Tuesday 26 September 2017
(Bloomberg 09/11/17)
The South African companies that dominate the U.K.’s growing private hospital industry are counting on more people like Katie Corrie. A children’s party entertainer, Corrie opted to use 13,000 pounds ($17,000) of her savings and inheritance to get a hip replacement rather than spend months on a National Health Service waiting list. Britons like her are forking out almost 1 billion pounds a year to cover their own medical expenses, a trend that’s giving at least one industry the scope to look past Brexit turmoil. “Even if I hadn’t had the money put aside, I would have found a way to pay for it,” said Corrie, 50, who estimates the business she runs with her husband would have lost 10,000...
(Reuters (Eng) 09/09/17)
President Robert Mugabe on Friday said Zimbabwe will begin compiling a new voter register next week ahead of the 2018 presidential and parliamentary elections, in which the 93-year-old is seeking to extend his 37-year hold on power. Mugabe said in an official government notice that the Zimbabwe Electoral Commission would start registering voters on Sept. 14 and would end the process on Jan. 15. Opposition parties have been demanding a new roll for voters and have previously accused Mugabe’s ruling ZANU-PF party of manipulating the existing register. ZANU-PF denies these accusations. Mugabe also told the central committee of his ZANU-PF on Friday that his party should galvanize supporters to register anew. He said Western powers were behind the last month’s...
(Reuters (Eng) 09/09/17)
President Robert Mugabe said on Friday that Zimbabwe’s economy, hobbled by foreign currency shortages and a widening budget deficit, was slowly rebounding and would be driven by mining and agriculture. Without giving details, Mugabe told a meeting of the ruling ZANU-PF’s Soviet-style central committee that the former British colony was on the way to regaining its status as a regional breadbasket and was expecting a bumper harvest of the staple maize in 2017. Zimbabwe generates half of its export earnings from mining, particularly gold and platinum, but diamond output fell to 961,000 carats last year from 3.5 million the year before, after the government seized all gem mining in the east of the country. “We are going to leverage on...
(Bloomberg 09/08/17)
Political violence has flared in Zimbabwe as the southern African nation gears up for elections next year that may see a united opposition seek to end President Robert Mugabe’s near four-decade rule. The Zimbabwe Peace Project recorded attacks on 745 people last month, up from 435 in July. The ruling party, military, police and intelligence services were responsible for 94 percent of the assaults, according to the human-rights group, which is based in the capital, Harare, and has 420 observers in the 10 provinces. “The nature of the human-rights violations, mainly politically motivated violence, makes disturbing reading,” Jestina Mukoko, the head of the group, said in an interview. The attacks point “to a festering culture of political intolerance that potentially...
(Xinhuanet 09/08/17)
Communication ministers from the Southern Development Community (SADC) countries vowed on Thursday to turn the region into an information and knowledge-based economy. This emerged from a ICT (information and communication technology) meeting taking place in Durban, a coastal city in southeastern South Africa. Communication ministers from 15 SADC countries have been meeting in Durban since Monday to discuss the region's ICT infrastructure. The meeting, also attended by policy regulators, implementing agencies and ICT industry players, was designed to help create a more integrated region and help move its communication systems forward. "An accessible, affordable and reliable telecommunications is essential for us to benefit from the Fourth Industrial Revolution which has the potential to leapfrog SADC region economically and socially as...
(Xinhuanet 09/08/17)
Zimbabwean President Robert Mugabe has escalated his tiff with South Africa's ruling African National Congress (ANC) by describing as stupid the party secretary-general Gwede Mantashe's reaction to his negative comments on political icon Nelson Mandela. Mugabe had on two previous occasions told his Zanu-PF party supporters that Mandela only negotiated for his freedom from jail and not for the economic emancipation of the majority blacks who continued to languish in poverty while whites had it all. Mantashe this week said he had spoken to the Zanu-PF secretary for administration Ignatius Chombo whom he asked to restrain Mugabe from insulting Madiba, as Mandela was affectionately known. "This morning, I phoned the secretary-general of Zanu-PF and I said to him, your president...
(APA 09/08/17)
Deprivation and marginalization, underpinned by weak governance, are primary forces driving young Africans into violent extremism, according to a comprehensive new study by the United Nations Development Programme (UNDP), the first study of its kind. Based on interviews with 495 voluntary recruits to extremist organizations such as Al-Shabaab and Boko Haram, the new study also found that it is often perceived state violence or abuse of power that provides the final tipping point for the decision to join an extremist group. “Journey to Extremism in Africa: Drivers, Incentives and the Tipping Point for Recruitment” presents the results of a two-year UNDP Africa study on recruitment in the most prominent extremist groups in Africa. The study reveals a picture of a...
(Bloomberg 09/07/17)
African Rainbow Minerals Ltd., the miner chaired by South Africa’s richest black businessman, will pay a record dividend this year as rising iron-ore and manganese prices boosted earnings at its ferrous unit. ARM will pay investors 6.50 rand a share, almost triple that of the previous year, and its 11th consecutive dividend, the Johannesburg-based company said in a statement Thursday. The company benefited from a 45 percent increase in prices received for exported iron ore and 93 percent more for its manganese. While ARM is “confident in the long-term outlook for commodities,” the company said prices will “remain volatile” this year. The rand, in which ARM pays most of its costs, has strengthened against the dollar this year, reducing earnings...
(Reuters (Eng) 09/06/17)
Zimbabwe’s opposition Movement for Democratic Change (MDC) said on Wednesday it had no plans to join factions of the ruling ZANU-PF party to form a national unity coalition after the eventual death of 93-year-old President Robert Mugabe. A Reuters investigation this week revealed that Vice-President Emmerson Mnangagwa, favorite to succeed Mugabe, has been looking to build a broad coalition that would kickstart the economy by reintegrating thousands of white farmers booted off their land in the early 2000s. The report was based on leaks from inside Zimbabwe’s Central Intelligence Organisation and interviews with top political players, including MDC leader Morgan Tsvangirai.
(The Financial Gazette 09/06/17)
Zimbabwe's retailers have warned of possible food shortages as it becomes increasingly difficult for the country to process foreign payments to raw material suppliers outside country, with the backlog estimated at $180 million. Businesses have been struggling to make foreign payments since the banknote shortage intensified at the beginning of 2016. Zimbabwe dumped its inflation-ravaged dollar in 2009, adopting the use of the United States dollar and, to a lesser extent, South Africa’s rand. However, a widening trade gap, on the back of declining local production, and illicit financial flows have left the country in a liquidity trap. Government has drawn up a priority list for foreign payments and imposed a ban on some imports it deems to be non-essential...
(News Day 09/06/17)
The Zimbabwe Revenue Authority (Zimra) says net collections for August were $307,95 million against a target of $267,66m, exceeding the target by 15%. Net collections for the month were 20,59% higher year-on-year from the $256,01m that was collected during the same period last year. During the month, gross collections amounted to $338,29m, while refunds were at $30,35m. “The sterling performance is mainly a result of automation initiatives, anti-corruption measures, skills realignment, improved staff supervision, as well as risk-based audits that are being carried out by the Authority,” Zimra said in a statement. The tax collector said it was continuously following up on tax debts and negotiating with taxpayers for payment plans, as well as closely monitoring adherence to the agreed...
(News Day 09/06/17)
The fundamental basis of any nation is the separation of powers – that there be a clear distinction between the government and political parties. In political parties, officials serve strict and narrow ends, where their interests take precedence, whereas in the government, bureaucrats work for everyone regardless of political affiliation. However, in Zimbabwe this clear demarcation is almost non-existent, as there is conflation between the State and Zanu PF, which is detrimental to nation-building. We have raised concern several times that Zanu PF should draw a thick line between its operations and government, because the overlapping roles are confounding. Just recently, in Masvingo Zanu PF officials fought over the employment of people for the dualisation of the Harare-Masvingo highway project,...
(News24 09/05/17)
Zimbabwe's ruling Zanu-PF party has come up with a novel way of enticing new members - issuing party cards that can also be used as bank debit cards. Given the chronic cash shortages in the country, the cards could prove an effective recruitment tool ahead of 2018 polls. "These cards are different from the ones that we used to issue because they can be used for other financial transactions and are as good as bank cards," Zanu-PF political commissar, Saviour Kasukuwere, told the state-run Sunday News. Officials say the cards will be linked to the state-owned People's Own Savings Bank POSB) and will also bear the party member's bank account number. Many people in the rural areas don't have bank...
(Bloomberg 09/05/17)
A surge in agriculture has helped lift Africa’s biggest economies out of their slumps, but the recovery may be weak. Gross domestic product in Nigeria, the continent’s largest crude producer, advanced for the first time in six quarters in the three months ended June from a year earlier, growing 0.55 percent, the statistics agency said. In South Africa, GDP expanded 2.5 percent from the previous quarter, ending the second recession in almost a decade. Both economies had agriculture largely to thank: in South Africa, a bumper corn harvest following the worst drought in more than a century saw the sector surge 34 percent from the prior quarter, while in Nigeria, where farming vies with industries as the second-biggest contributor to...
(Eye Witness News 09/04/17)
Zimbabwe'a Mugabe says that Nelson Mandela preferred his personal freedom over the economic freedom of black South Africans. President Robert Mugabe has once again criticised former South African president Nelson Mandela. Mugabe says that Mandela preferred his personal freedom over the economic freedom of black South Africans. He has changed his tune on the late South African icon. When Mandela died four years ago, Mugabe described him as a champion of the oppressed. But at a Zanu-PF rally at the weekend, the Zimbabwean president claimed that Madiba had cherished his personal freedom more than anything else. It was the second time in less than a week that Mugabe had criticised Mandela’s legacy. In quotes carried by NewZimbabwe.com, Mugabe said that...
(Bloomberg 09/04/17)
The worst may be over for Africa’s two largest economies as they likely emerged from a slump in the second quarter. Official data on Tuesday will probably show South Africa’s economy expanded in the three months through June, ending its second recession in less than a decade. Nigeria’s gross domestic product probably grew from a year earlier, and came out of its worst slump in a quarter of a century. South Africa and Nigeria together account for almost half of sub-Saharan Africa’s GDP and their recoveries may boost trade and production across the region. The reasons differ: while Nigeria, the continent’s biggest oil producer, is benefiting from a rebound in crude output, stronger retail sales may help drive growth in...
(Reuters (Eng) 09/02/17)
Zimbabwe’s first lady Grace Mugabe hit the campaign trail with her husband Robert on Friday, urging discipline in his party two weeks after she faced assault charges in South Africa. Grace, who is seen as a possible successor to her 93-year-old husband, was accused of assaulting a model at an upmarket Johannesburg hotel, but flew home after a minister granted her immunity. The first lady did not refer to the incident in her first speech since returning, instead telling a ZANU-PF party rally that supporters should stand behind Africa’s oldest leader in the build-up to next year’s elections. “We have a very unique position in Zimbabwe where we have our president who will soon be 94 years because that is...
(Xinhuanet 08/31/17)
A rally organized by the Zimbabwean ruling party Zanu-PF in solidarity with First Lady Grace Mugabe Wednesday ended up being held to show support to the First Family as a whole, with the party's secretary for administration Ignatius Chombo being the guest of honor. Messages delivered at the gathering hovered around the issue of internal party squabbles and ignored the diplomatic tiff the First Lady was involved in while in South Africa two weeks ago. The First Lady had to invoke diplomatic immunity cover to evade court after she allegedly assaulted 20-year-old model Gabriella Engels whom she had found in the company of her two sons in their room. With the South African police wanting to interview her and human...
(Xinhuanet 08/31/17)
Cooperation between China and Africa has seen remarkable progress in renewable energy, showing the determination of developing countries to harness the huge potential of clean energy and combat climate change. China-Africa Renewable Energy Cooperation and Innovation Alliance, a coalition of financing institutions, smart grid providers and core manufacturers, on Thursday signed a Memorandum of Understanding (MOU) on cooperation with Africa Renewable Energy Initiative (AREI). "Africa has the highest potential for renewable energy, but the least access to it," said Seyni Nafo, chairman of AREI endorsed by the African Union Assembly. The MOU will enable the two parties to cooperate in renewable energy generation in Africa, with Chinese smart grid providers and core renewable energy manufacturers providing technological and financial support...
(Bloomberg 08/30/17)
One Thousand & One Voices LLC, a private-equity fund started by the great-grandson of the founder of Coors Brewing Co., said it bought a producer of sushi-quality trout that is the largest such facility in Africa. SanLei’s operations are on the Katse Dam in Lesotho, an enclave surrounded by South Africa, 1K1V, as the fund is known, said in an emailed statement Tuesday. The company didn’t disclose the value of the transaction. SanLei has secured a marketing and distribution agreement with CGC Japan Co., which has more than 4,000 stores and collective revenue of more than $40.5 billion, making it Japan’s largest joint-procurement supermarket chain, 1K1V said. The fund has been hunting for private-equity investments that tap Africa’s growing consumer...

Pages