By Reuters HARARE: The value of stocks on Zimbabwe’s dollar-only bourse has jumped by 85% since the start of the year to more than $1 billion, its CEO told Reuters on Tuesday, adding he anticipated continued growth. The Victoria Falls Stock Exchange (VFEX) was set up in 2020 to attract global investors targeting export-oriented companies
By Xinhua HARARE: Zimbabwe recorded an increase of 52.3 percent in the number of both domestic and international flights in 2022 compared to the previous year, as the tourism sector continues to rebound from the COVID-19 pandemic, the Zimbabwe National Statistics Agency (ZIMSTAT) said Monday. The number of flights increased to 50,640 in 2022, up
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By Alois Vinga ENGLAND based mining investor, Marula Mining PLC – Haywards Heath has tabled plans to establish a new mining subsidiary in Zimbabwe which will focus on the fast growing battery metals sector. The mineral resource rich Southern Africa nation has the largest lithium deposit on the continent amid expectations that it can do better from
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By Bloomberg News Zimbabwe’s ban on lithium ore exports has resulted in stockpiles of the key battery metal building up in the southern African country. The ban – introduced by the government last December in a bid to encourage local processing of the metal – has resulted in two-million tons of ore being stockpiled, according to
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By UK Correspondent BANKER Lance Mambondiani is stepping down as managing director of BancABC, having been head of the Zimbabwe unit of the regional financial services institution since July 2019. Sources dismissed speculation claiming the banker, known for his keen interest financial services innovation, was leaving due to a fallout with the bank’s board. His
By Bloomberg News Dollar-only Victoria Falls Stock Exchange experiencing listings boom De-listing on main exchange not a worry, finance minister says Zimbabwe plans to set up an offshore financial centre in the resort city of Victoria Falls that the government wishes to vie with the likes of Dubai and the Isle of Man to attract
Investing in crypto from Zimbabwe can be a great way to diversify your portfolio and take advantage of the potential returns offered by digital currencies. However, as with any form of investment, there are certain safety protocols that should be kept in mind to ensure the security of your funds. On top of that, the
By Clara Denina and Wendell Roelf I Reuters CAPE TOWN: Lithium-rich African countries, including Zimbabwe and Namibia, are trying to develop processing and refining industries to capture more of the profits of global demand for the battery material. As the auto industry shifts towards electric vehicles (EVs) – spurred by proposed bans on fossil-fuel cars
By Reuters South Africa’s logistics utility Transnet on Friday suspended freight rail services on its North East Corridor, which links with several countries in southern Africa, as heavy rains damaged infrastructure on the line. The corridor, which mostly moves mineral commodities, links South Africa to Swaziland, Zimbabwe, Mozambique, Zambia and the Democratic Republic of Congo.
By Reuters African governments must be wary of the risks created by rising global competition for the continent’s minerals, Botswana’s mines minister said, as world powers seek new sources of metals needed for the transition to a lower carbon economy. “When there is a rush, people come in, take whatever they want to take, and
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By Leopold Munhende, Chief Correspondent TOP mining expert and London listed Premier African Minerals (PAM) Chief Executive Officer (CEO) George Roach has come out in support of government new thrust to have lithium processed locally. Speaking a month after President Emmerson Mnangagwa announced a blanket ban on export of raw lithium, Roach, whose Zulu Lithium has interests in Fort Rixon said the mineral
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By energyvoice.com Drilling problems have defeated Invictus Energy, for now, with the company bringing its first exploration well to a close. While pressure has proved to be a challenge, there have been encouraging results. The company began drilling the Mukuyu-1 well, in Zimbabwe’s Cabora Bassa Basin, in late September. By mid-November, Invictus was reporting positive results.
By Agencies Botswana Diamonds (BOD), the UK-based explorer, says it is seeking joint venture opportunities to seek out new assets in Zimbabwe. The country relies on diamond mining for around 70 per cent of its foreign currency revenue, but is battling grinding poverty among its 15m population, John Teeling, chairman of BOD, said in a
By Bloomberg news A rally in Copperbelt Energy Corp. is poised to help Zambia’s benchmark stock index become Africa’s best performer this year. The 22-member Lusaka Securities Exchange All Share Index climbed 12% in dollar terms in 2022 and is set for a second straight year of gains. Copperbelt, which supplies power to mining companies in
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