Sunday 28 May 2017
(News Day 03/17/17)
The recent mission by Tanzanian buyers in Zimbabwe is expected to generate export business worth $1,5 million in the next six months and there is a huge potential for more business, an official has said. Trade promotion body ZimTrade recently hosted an eight-member Tanzanian business delegation, which sought to make orders from local companies. The buyers were drawn from pharmaceuticals, agricultural implements and inputs sector companies. ZimTrade’s public relations officer, Dillon Kamutenga, told NewsDay that the recent mission by Tanzanian buyers was expected to generate export business worth about $1,5 million in the next six months and there is a huge potential for continued business. According to Trade Map, total trade between Tanzania and Zimbabwe grew by an average of...
(New Zimbabwe 03/17/17)
Zimbabwe owes South Africa's power utility ESKOM more than $12 million and is struggling to clear the debt, it has emerged. Harare does not generate enough electricity to meet its needs and relies on imports from the region to plug the supply gap. However, with its economy in the tank and government struggling with its finances, supplies from the region often come under threat due to unpaid bills. The country's supply deal with Eskom is nearing its end and energy minister Samuel Undenge held talks company officials on Monday aimed at reaching agreement. The talks also focused on clearing Zimbabwe's debt which has accrued over a number of years. Undenge, during a press briefing after closed door meetings with South...
(The Herald Online 03/17/17)
President Mugabe leaves for Ezulwini, Swaziland, today to attend an Extraordinary Summit of SADC Heads of State and Government that opens at Lozitha Royal Palace tomorrow. He will join other Heads of State and Government for the special indaba on Industrialisation and Regional Integration. The meeting is in fulfilment of the decision made by regional leaders last year to hold annual special summits for the purpose of reviewing industrialisation and integration of SADC economies. The SADC Industrialisation Strategy and Roadmap was steered by President Mugabe during his tenure as Sadc Chair (August 2014-August 2015). Secretary for Information, Media and Broadcasting Services Mr George Charamba told The Herald last night that the special summit was a follow-up to President Mugabe's initiation...
(Zimbabwe Independent 03/17/17)
The country's largest financial services group by deposits and assets, CBZ Bank, is exposed to the cash-strapped government through Treasury Bills (TBs) to the tune of US$760 million. CBZ Although TBs are one of the safest investment instruments and government always pays on maturity of its short-term securities, the risk of defaulting is growing due to its deepening fiscal crisis. According to CBZ's full-year financial results to December 31 2015 (FY15), the bank's exposure to government paper rose from US$471 million in the prior financial year to US$760 million. CBZ reclassified US$471 million, previously listed as money market assets on its statement of financial position, to financial securities. This comes after Finance minister Patrick Chinamasa last year said government had...
(Voice of America 03/17/17)
One of the enduring legacies of the Barack Obama presidency will be the relationship built between the United States and young Africans. As part of Obama’s Young African Leaders Initiative (YALI), each year 1,000 young people from sub-Saharan Africa travel to the United States to spend six weeks at a U.S. college or university. The program will continue this summer. But building enduring relationships is a two-way street, and many in Africa want to see Americans coming to their continent as well. That’s what 26 Americans selected to participate in a Reciprocal Exchange program, a new component of the Mandela Washington Fellowship for Young African Leaders, are now planning to do. The U.S. Department of State partnered with IREX, a...
(Voice of America 03/16/17)
Zimbabwe has opened its 2017 tobacco-selling season with hopes the “golden leaf” will change the economic fortunes of the southern African nation. Officials say the tobacco yield has been increasing after a downward turn in 2000 when the government chased white commercial farmers off their land. Zimbabwean farmers applauded after the 2017 tobacco selling season began Wednesday in Harare at the country’s biggest auction floor. Reserve Bank of Zimbabwe Governor John Mangudya saluted the farmers. “Producers of tobacco are indeed our heroes. You are important to this economy.
(The Financial Gazette 03/16/17)
Gold prices are expected to hit a two-year low, trading at under US$1 000 an ounce this year owing to projected low demand from jewelleries, industries and retailers at the back of a stronger United States dollar, a World Bank (WB) commodities forecast has revealed. The development is likely to affect Zimbabwe's mining sector, which had recovered after a hyperinflationary-era slump that ruined operations. By last week, gold was down 0,5 percent at US$1 209 an ounce after touching its lowest since February at US$1 206, putting it on track for a fifth straight session in the red. For local producers, the current trend of dipping weekly prices would hurt operations as most companies are struggling to recover from the...
(APA 03/16/17)
Zimbabwe’s tobacco marketing season kicked off on Wednesday amid revelations that the total output of the golden leaf is more than 200 million kilogrammes this year. Figures released on Wednesday showed that a total of 202 million kg of tobacco was produced during the just ended 2016/17 farming season. However, only 16 million or about eight percent of the total, would be traded via the auction system, with the remainder being sold to contract buyers. Trading opened at an average of US$4.60 per kg.
(Xinhuanet 03/16/17)
China's aid to the education sector in Africa is helping boost teacher training, a key component in skilling the population to fast track development, a UN official has said. Ann Therese Ndong-Jatta, Director of United Nations Educational, Scientific and Cultural Organization (UNESCO) Regional Office for Eastern Africa, in an interview recognized China's contribution to Africa's education sector over the years. "We value the initiative in teacher training in Uganda and other countries in Africa. This will revitalize the teaching profession," she said. China through UNESCO donated equipment to three teacher training institutions in Uganda on March 3. Figures from the Chinese embassy here show that 137 tutors were trained and 272 pieces of Information Communication and Technology and studio equipment...
(AFP (eng) 03/16/17)
Africa will host a Commonwealth Games one day despite the blow of Durban being stripped of hosting the 2022 edition, David Grevemberg, the chief executive of The Commonwealth Games Federation (CGF), told AFP. Durban lost the right to host the Games on Monday -- just 18 months after being awarded them -- when it failed to meet criteria laid down by the CGF, primarily over costs. "I wouldn't want to make a judgement call," Grevemberg told AFP on the sidelines of a briefing by 2018 Games hosts Gold Coast on Wednesday. "Durban has hosted some great events, it is a fantastic city and are wonderful warm hosts with bright ambitions and great aspirations. "However, it takes more than a municipality,...
(The Herald Online 03/15/17)
Masvingo — The Civil Protection Unit has started moving anti-malaria drugs and food aid to thousands of flood victims in southern Chikombedzi, who were cut-off from the rest of the country after Runde and Mwenezi Rivers flooded, submerging major access bridges. Donor organisations are also providing assistance in the form of temporary shelter such as tents to areas ravaged by floods, particularly Matibi 2 and Malipati, where an outbreak of malaria reportedly claimed over 20 people at the peak of the floods. Movement of critical drugs to fight malaria and food relief to flood victims in southern Chikombedzi became almost impossible after flooded Runde River submerged the Chilonga Bridge that connects the district's commercial capital of Chiredzi with southern Chikombedzi...
(The Wall Street Journal 03/15/17)
Ndalo Media founder Khanyi Dhlomo and Mara Group founder Ashish Thakkar on where the potential is and what’s blocking it How is innovation in Africa different from innovation in Silicon Valley? And how can innovation in Africa be encouraged? Dan Keeler, frontier-markets editor of The Wall Street Journal, discussed those questions with Khanyi Dhlomo, founder and chief executive of Ndalo Media, a publisher based in South Africa, and Ashish Thakkar, founder of Mara Group, a pan-African investment group with operations in banking, real estate, infrastructure and technology. Edited excerpts follow. MR. KEELER: What about innovation in Africa? Khanyi, what sort of things are you seeing that are inspiring you? MS. DHLOMO:There’s a lot of innovation happening in Africa. But it’s...
(Agence Ecofin 03/14/17)
The Land Policy Initiative (LPI), a joint programme of the tripartite consortium consisting of the African Union Commission (AUC), the African Development Bank (AfDB) and the United Nations Economic Commission for Africa (ECA) has launched a pilot project to track progress in implementing in the AU Declaration on land issues in Africa. This was revealed by the ECA in a press statement dated March 7. In collaboration with the International Food Policy Research Institute (IFPRI), the project will assess progress made in implementing the key decisions and commitments of the AU Declaration on Land adopted in July 2009 by the General Assembly of the pan-African institution. “We are to a large extent in unchartered waters given many of our Member...
(Reuters (Eng) 03/13/17)
The United Arab Emirates, one of the Middle East's largest economies, wants to expand trade ties with faster growing nations in Asia and Africa, a senior official said on Sunday. Rich Gulf Arab states are looking at ways to diversify their economies, including who they trade with, after more than two years of depressed oil prices forced a rethink of government spending. The pace of economic growth in Asian and sub-Saharan African economies has made them ideal partners, Abdullah al-Saleh, undersecretary for foreign trade and industry at the UAE ministry of the economy, told Reuters in an interview in Dubai. Asia's two largest economies China and India are expected to grow by 6.5 percent and 7.2 percent this year whilst...
(Xinhuanet 03/10/17)
Thirteen people died and four others were seriously injured Wednesday night when a commuter omnibus they were travelling in collided head-on with a South African registered haulage truck in a highway in southwest Zimbabwe, Police confirmed in a statement Thursday. The statement said 13 people in the minibus died on the spot. The minibus was traveling to Masvingo in southern Zimbabwe with the mourners and a corpse. "On approaching the said spot, the haulage truck hit a pothole and the driver lost control of the vehicle. He then encroached onto the lane of the oncoming vehicle, resulting in a head on collision with the commuter omnibus," police spokesperson Charity Charamba was quoted as saying by state broadcaster, the Zimbabwe Broadcasting...
(AFP (eng) 03/10/17)
In the beginning was .com, followed by a host of other .somethings, but on Friday, 32 years after the world's first domain name was registered, the African Union has launched .africa for the continent. Africans who want to register a website will be able to apply for a .africa domain name in the coming months, which outgoing AU commission chair Nkosazana Dlamini-Zuma said would allow the continent's people and businesses to better reach the world. "With .africa, I would say Africa has finally got its digital identity," said Dlamini-Zuma, who will next week hand power to Chadian Foreign Minister Moussa Faki Mahamat after four years at the helm of the continental body Sub-Saharan Africa has one of the lowest rates...
(Xinhuanet 03/09/17)
A critical mass of trained and well equipped community health workforce is key to easing the rising burden of infectious and noncommunicable diseases in Africa, experts said on Wednesday at a continental forum taking place in Nairobi. The experts, policymakers and campaigners who attended Africa Health Agenda International Conference agreed that optimal engagement of community health workers is key to revolutionize response to diseases ravaging the continent. Kenya's Cabinet Secretary for Health Cleopa Mailu in his opening remarks said that investments in training for community health workers will have multiplier impact on Africa's socioeconomic development. "We require highly skilled and motivated cadre of community health workforce to deal with a high diseases burden in disadvantaged settings in this continent. These...
(News Day 03/08/17)
Government has dug a deep financial hole after it agreed to pay an unbudgeted for $180 million in bonuses to the restive civil service, with analysts warning the move signalled the country’s unwillingness to undertake fiscal reforms. On Monday, government buckled under pressure and resolved to pay 2016 bonuses to the civil servants and avert a brewing industrial action. Finance minister Patrick Chinamasa said Treasury would look for the funds. The move comes at a time when government has been charming the international community with promises of reforms to get lines of credit required to reboot the economy. Analysts told NewsDay the payment of bonuses was driven by populism ahead of the 2018 elections. “It’s a reflection of both fiscal...
(Bloomberg 03/08/17)
Zimbabwe has set aside $62 million to buy corn from farmers after plantings of the grain increased 55 percent from a year earlier, and will seek funds for additional purchases, according to Agriculture Minister Joseph Made. The state-run Agricultural Marketing Authority has been told to raise $80 million to fund further purchases of Zimbabwe’s staple food, Made told a parliamentary committee on Friday. He didn’t provide details of how the money would be raised. Zimbabwe, which is usually a net importer of corn, produced 1.3 million metric tons of the grain last year, compared with its 2.2 million-ton annual requirements, according to the Ministry of Agriculture. The government has sought to increase output after the country suffered food shortages last...
(Xinhuanet 03/08/17)
Zimbabwe on Wednesday joined the rest of the world in commemorating the 2017 International Women's Day. Thousands of women and girls gathered at the Harare International Conference Center where they celebrated the day at a colorful event that was punctuated by song and dance. Speaking at the event, United Nations Resident Coordinator in Zimbabwe Bishow Parajuli said Zimbabwe has made great strides in women empowerment and gender equality although more effort is still needed to create an environment where women and girls can achieve their full potential. He noted that Zimbabwe has performed well in women representation in parliament which currently stands at 35 percent, higher than the global average of 23 percent. Zimbabwe had also achieved gender parity in...

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