MAPUTO Mozambique (Xinhua) --
Zimbabwe’s new president Emmerson Mnangagwa on Wednesday
invited Zimbabwean businessmen in Mozambique to go back
to invest in their own homeland, whose economy has been
going south and is in need of fresh cash.
made the remarks to the Zimbabwean community during his
one-day visit to Mozambique, saying his government is
working to deal with all legislation barriers that
constrain business in Zimbabwe.
“By that we
mean we are to attend to all pieces of legislation which
constrains business in our country,” said the president.
“With a lot
of people interested in investing in Zimbabwe under the
new dispensation, it will see Zimbabwe again grow by a
pace that will enable us to catch up with the rest of
the SADC region countries or the rest of developing
countries,” Mnangagwa added.
President Filipe Nyusi expressed his support to
you have time to go home, go and look at the menu of
opportunities that now exists at home ... We will do our
best to accommodate you on your way of specialization,”
took office two months ago and has vowed to revitalize
the country’s sluggish economy through a series of
measures, including stamping out corruption, opening the
country to foreign investment and inculcating a new
culture of hard work in Zimbabweans.
The price of
a loaf of bread in 2008 was 16 million Zimbabwe dollars.
The same loaf of bread cost more than 100 trillion
Zimbabwe dollars in 2009.
Zimbabwe not phasing out bond notes: finance minister
HARARE Zimbabwe (Xinhua) --
Zimbabwean Finance Minister
Patrick Chinamasa said Wednesday the new government has
no plans to phase out bond notes, the surrogate currency
introduced in 2016, to tame cash shortages in the
recent media reports alleging that government intended
to phase out the notes soon, Chinamasa said in a
statement that the economic fundamentals were not yet
ideal for the country to move out of the multiple
currency regime adopted in 2009.
African country adopted use of multiple currencies in
2009 after its currency had been rendered worthless by
dollar has been the main transacting currency but it has
been in short supply since 2015 due to low exports and
reiterate the fact that government has no plans to phase
out bond notes. The government is quite aware that the
most important economic fundamentals that the country
would need to achieve before de-dollarization begins are
foreign exchange reserves sufficient to cover at least
three months of imports, sustainable economic growth
path and reducing fiscal deficit to sustainable levels,”
the minister said.
He said the
government is placing more emphasis on achieving these
economic fundamentals, including enhancing consumer and
business confidence, in the medium term.
Zimbabwean president says no capacity for diaspora
HARARE Zimbabwe (Xinhua) --
Zimbabwean President Emmerson
Mnangagwa has said Zimbabwe does not have the capacity
to facilitate its citizens based outside the country to
vote while in their countries of residence.
news agency New Ziana reported Tuesday that Mnangagwa
had on Monday told the Zimbabwean community in Namibia
that the country did not have funds to allow voting to
take place outside its borders.
“We do not
have the logistics now or the capacity,” Mnangagwa told
the audience during a question and answer session.
Zimbabweans in the diaspora had not been denied their
right to vote as those who were “serious” could come
back home to register under the on-going voter
registration and vote when the time came.
had made a one-day visit to Namibia to discuss with his
counterpart Hage Geingob on the recent political changes
in Zimbabwe, following similar visits to South Africa
and Angola and ahead of several others in the Southern
African Development Community.
Zimbabweans in the diaspora have been urging the
government to allow them to vote while in their
countries of domicile but the government has argued that
it had funding constraints.
will go for elections most likely in the second half of
2018 with many people hoping that some electoral reforms
will be implemented to ensure that they are more
credible than in the past.
said observers would be invited from the region, the
continent as well as the international community to
monitor the polls.
every country that has an embassy in Zimbabwe is allowed
five people to observe the elections,” he said.
Zimbabwe seeks to resuscitate major asbestos mine
HARARE Zimbabwe (Xinhua) --
Zimbabwe’s new government is
planning to resuscitate a major asbestos mine in the
central part of the country to create jobs and help
revive the economy.
of mines Winston Chitando was quoted by the state-run
Herald newspaper Tuesday as saying that efforts were
underway to raise funds to revive Shabani mine.
Mashaba Mines (SMM) in Zvishavane and Gaths’ Mine in
Mashava were once among the world’s largest asbestos
producing entities with annual output exceeding 140,000
tones. SMM stopped production in 2004 due to viability
Zimbabwean government has over the years battled to
revive operations at the mines without success.
plan resurfaced as Zimbabwean President Emmerson
Mnangagwa hopes to buoy the ailing economy by boosting
agriculture and mining.
said de-watering had begun at the mine, which was
expected to be completed by end of this year.
“As we talk
now, we do have about 50 people at the dump, mobilizing
to start the reprocessing of the dump, which should
commence by May this year,” Chitando said.
said the government had not yet found an investor for
SMM, currently under the administration of the state-run
Zimbabwe Mining Development Corporation.
At its peak,
SMM employed 5,000 workers with an estimated 200
downstream industries benefiting from its operations.
Zimbabwe explores Chinese chicken market for export
WINDHOEK Namibia (Xinhua) --
Zimbabwean President Emmerson Mnangagwa
on Monday said that he is hopeful about the
opportunities that have been availed to his country
singling out the Chinese chicken market as a prospective
area for export.
speaking at a business forum meeting for Zimbabweans in
Namibian capital Windhoek where he is on a one-day
who came to power last November following military
intervention said that the two countries were working
towards brokering an agreement that would see small
poultry producing businesses in Zimbabwe exporting their
chicken to China.
Zimbabweans living in Namibia to consider relocating
back home to utilize these opportunities and help build
the country that was once known as the bread basket of
been goodwill from across the world, so many delegates
coming to Zimbabwe with various proposals. Our people
are ready to move and rebuild,” he said.
one of the first few countries that reached out to the
president right after his inauguration to offer support.
expected to visit China in April this year to work out
more areas of cooperation.