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.
Scott Sakupwanya has called for a dramatic increase in prize money for Zimbabwe’s top-flight league, proposing that the winners of the Castle Lager Premiership receive US$3 million — a figure that would make it the highest-paying league title on the African continent.
Zimbabwean-American artist Draze released a new single titled No, featuring legendary musician Thomas Mapfumo, ahead of Zimbabwe’s Independence Day celebrations on April 18.
Highlanders FC coach Benjani Mwaruwari has reportedly gone three months without pay, highlighting growing concerns over the club’s sponsorship payment system.
