Business

Old Mutual shareholders are split on whether the South African insurer should pony up and settle with Chief Executive Officer Peter Moyo or run the risk of a R250 million damages claim.

Zimbabwe’s economy is projected to contract by up to 6% this year due to a drought that hit farming output and electricity generation but is expected to rebound in 2020 on better agriculture prospects, a treasury document showed on Monday.

The Zimbabwe Energy Regulatory Authority (Zera) on Saturday hiked fuel prices, a development which, the public fear, is likely to trigger price increases of other commodities.

The Zimbabwe Power Company (ZPC) says Hwange Power Station is now generating an average 500 megawatts per day after the refurbishment of unit 5, easing electricity shortages in the country following months of acute outages.

Platinum miner Zimplats has been seized with perennial management squabbles resulting in a major shake-up, that saw the demotion of some top managers.