Caledonia Mining advances multi-asset strategy with Zimbabwe acquisition

ZIMBABWE – Caledonia Mining has entered into an agreement to purchase the mining claims over the Maligreen project, a property situated in the Gweru mining district of Zimbabwe, from privately-owned Pan African Mining, for US$4 million in cash. Caledonia noted that Maligreen is a substantial brownfield exploration opportunity with significant historical exploration and evaluation work having been conducted on the property over the last 30 years. This includes an estimated 60,000 meters of diamond core and percussion drilling, 3.5 t of bulk metallurgical test work, and aeromagnetic and ground geophysical surveys. As of August 31, Maligreen is estimated to host a National Instrument…

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Agribusiness firm InspiraFarms opens regional office in Harare

ZIMBABWE – InspiraFarms is expanding its presence across Africa with the establishment of a regional office representation for Southern Africa, based in Harare, Zimbabwe. InspiraFarms’ team designs first-mile, on-farm pre-cooling cold chain and food handling solutions, which are made up of the best European technologies. Zimbabwe has become a key market for InspiraFarms, with the Zimbabwean horticultural sector growing rapidly in response to the increasing demand for fresh fruit and vegetables in the European Union (EU), UK, Middle East, Far East and regional markets. The expansion in demand is also…

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VFEX signs MoU with Dubai Exchange

ZIMBABWE – The Victoria Falls Stock Exchange (VFEX), a subsidiary of Zimbabwe Stock Exchange (ZSE), has signed a Memorandum of Understanding (MoU) with the Dubai Gold and Commodities Exchange (DGCX), the region’s leading derivatives exchange, to strengthen bilateral co-operation as well as exchange knowledge around commodities trading. As part of the agreement, the DGCX will extend technical support, knowledge and skills to VFEX with the ultimate aim of establishing an international commodities exchange in Zimbabwe, according to a ZSE statement. Additionally, VFEX will seek support from the DGCX in framing…

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Deutsche Bank severs ties to Standard Bank’s Zimbabwean unit

ZIMBABWE – Deutsche Bank has cut correspondent banking ties with Standard Bank Group’s Zimbabwean unit, dealing a body-blow to one of the few remaining international banking providers operational in the southern African nation, reports Blomberg. Stanbic Bank Zimbabwe, as the local unit is known, is the latest lender to have its US dollar correspondent banking services – which are key to facilitating foreign currency exchange and payments – terminated by an international bank.  “Deutsche Bank was no longer able to support the clearing of a few of our US dollar-based…

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Hybrid solar system powers Tanganda Tea Company in Zimbabwe

ZIMBABWE – South African renewable energy company, Blockpower, has announced the completion of the second phase of the installation of 4.6 MWp/1.44 MWh hybrid solar plus storage system for Zimbabwe’s Tanganda Tea Company (TTC). The system will provide power to the company’s agricultural estates in the Chipinge District of Zimbabwe. Tanganda Tea Company Limited is the largest producer, packer and distributor of tea products in Zimbabwe and additionally operate several estates which also cultivate coffee, macadamia nuts and avocadoes. Due to the inconsistent power supply in Zimbabwe, Blockpower was tasked to come up…

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Econet taps into Ericsson’s learning services digital platform

ZIMBABWE – Econet Wireless Zimbabwe (Econet) and Ericsson have announced a partnership to implement Ericsson’s Learning Services Digital Platform for Econet’s employees. Econet will have access to Ericsson’s premium e-learning content service, All Access Plus. The partnership with Ericsson enables Econet to utilize the Learning Services Digital Platform ensuring unlimited and uninterrupted access to Ericsson’s e-Learning content available in the global Ericsson training library.   As a knowledge library, All Access Plus is updated regularly and includes more than 200 interactive training and videos, podcasts, and white papers. This partnership gives…

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Qatar Airways debuts Harare-Lusaka route

ZIMBABWE – Qatar Airways has launched its first flight to Harare and Lusaka bringing connectivity and enhancing trade between the Southern Africa region and the Middle East The three-times a week Harare service will be operated by the airline’s state-of-the-art Boeing 787 Dreamliner featuring 22 seats in Business Class seats and 232 seats in Economy Class. Businesses and traders are set to benefit from the airline’s cargo offering carrying more than 30 tonnes of cargo per week. Qatar Airways group chief executive Akbar Al Baker said the coming in of…

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Zimbabwe sells gold refinery Fidelity Printers and Refiners for US$49m

ZIMBABWE – A total of ten companies will take control of Zimbabwe’s privatized gold refinery, Fidelity Printers and Refiners (FPR), for US$49 million, the country’s Finance minister Mthuli Ncube has said, reports Newsday. This will be the first time that the refinery will be in private hands since it was established in 1988. The sale, first announced in December 2020, will see the new shareholders owning 60% of Fidelity Printers and Refiners, while the Reserve Bank of Zimbabwe (RBZ) retains the remaining 40%. “The process of partial privatization of Fidelity…

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Seed Co completes US$12m seed drying plant in Zimbabwe

ZIMBABWE – Seed producer, Seed Co Zimbabwe has completed setting up its new US$12 million artificial seed drying plant at Stapleford, Mt Hampden, Zimbabwe which will enhance early seed availability for sale post-harvest. The group is also looking at increasing the capacity of the artificial seed drying facility in Harare, as well as replicating it in the region. The company’s Chief Executive Morgan Nzwere said during the group’s analysts briefing that: “The artificial seed drying plant was successfully completed at Stapleford, which can do 5,000 tonnes. It will allow us…

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Old Mutual to install solar power plant at its Harare headquarters

ZIMBABWE – Old Mutual Life Assurance Company Zimbabwe, the subsidiary of the insurance company Old Mutual, is planning to install a 648 kWp solar power plant at its headquarters in Harare. The solar photovoltaic system will be connected to the Zimbabwean national electricity grid. Faced with load shedding in Zimbabwe, many companies are turning to self-consumption and this is the case of Old Mutual Life Assurance Company Zimbabwe. The insurance company wants to equip its Emerald Hill headquarters in Harare with a 648 kWp solar power plant. Old Mutual has…

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