Zimbabwe’s currency weakened almost 14% in the weekly central bank auction, just days after Finance Minister Mthuli Ncube called for changes to how the foreign-exchange market is managed.
South Africa’s record power outages are stifling travel across the key bridge between the country and Zimbabwe, one of Africa’s busiest inland borders.
Prosecutors charged two former top executives at South Africa’s state rail and ports operator with fraud and other crimes in a widening crackdown on alleged perpetrators of corruption during former President Jacob Zuma’s rule.
Zimbabwe’s state mining vehicle, Kuvimba Mining House Ltd., is taking over the 50% shareholding in a platinum project owned by Russia’s Vi Holding NV and plans to make further mining acquisitions, according to nation’s Treasury.
Trafigura Group and Zimbabwe’s government have discussed a deal that would give the commodities trader control over output from some of the nation’s biggest mines as repayment for debts, documents seen by Bloomberg show. Bloomberg has previously reported on Kuvimba’s apparent links to Kudakwashe Tagwirei, a Zimbabwean tycoon who’s been sanctioned by the U.S. and U.K. over corruption allegations, and who was part-owner of many of the mining assets that are now part of Kuvimba.
Former South African President Jacob Zuma, who now leads the opposition uMkhonto weSizwe (MK) Party, has called for closer ties between his organization and the Economic Freedom Fighters (EFF) to achieve genuine liberation for black South Africans.
The war between the United States and Iran is intensifying, with both sides launching fresh attacks that are pushing the Middle East closer to a broader conflict.
MUTARE - Former Finance Minister Tendai Biti, journalist Fanuel Chinowaita, lawyer Nyasha Gerald and Morgan Ncube were arrested in Mutare while mobilising support for the Constitutional Defenders Forum (CDF) that he leads.
