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BMW CEO Harald Krueger is stepping down after a four-year tenure in which the automaker lost its lead in luxury car sales and saw an early head start in electric vehicles evaporate. Friday’s news comes after BMW lost money on its automotive business in the first quarter of the year after the company was hit…
A little more than 100 years ago, Naspers was created by white South Africans to produce a Dutch-language newspaper. Naspers, now Africa’s largest public company thanks to its investment in China’s Tencent, has appointed Phuti Mahanyele-Dabengwa its first woman, and first black person, as CEO of its SA business ahead of an offshore listing of its valuable…
By Veritas SI 142 of 2019 [link] ‒ the Reserve Bank of Zimbabwe (Legal Tender) Regulations, 2019, to give it its full name ‒ declared that the Zimbabwe dollar should be the sole legal tender in Zimbabwe for all transactions. Other currencies, specifically US dollars, British pounds, South African rand and Botswana pula, are no longer legal tender….
By Tatenda Mujeyi The Zimbabwe Tourism Authority (ZTA) has partnered with the Harare City Council to venture into township tourism and market Zimbabwean townships. “We are indeed delighted and honoured to have you here, to participate, discuss and share in this Township Tourism Workshop under the theme ‘Unlocking & Empowering township communities through Tourism,” ZTA…
New book on how to restore trust in globalisation and democracy This week’s nomination of Christine Lagarde to be the next President of the European Central Bank is the latest example of women in top positions in economic policymaking around the globe. A new book from the Centre for Economic Policy Research (CEPR), the European…
Under the high patronage of H.E. Denis Sassou Nguesso, President of the Republic of Congo, the Pan-African Parliament (PAP) in collaboration with the Republic of Congo and the United Nations Programme on HIV/AIDS (UNAIDS), will hold a High-Level Pan-African Summit on HIV/AIDS and health financing in Africa from 11 to 12 July 2019 in Brazzaville, Congo. The…
Mack Air and Air Zimbabwe signed an Agreement for the launch of the “Flame Lily Hoppa” domestic and regional air service in Harare, Zimbabwe on the 4th of July 2019. The agreement outlines an integrated and synergistic operational and commercial partnership between the two airlines. This agreement includes the imminent launch of daily domestic scheduled…
By Tatenda Mujeyi The second edition of the renewable energy conference held in Harare yesterday explored the mixed fortunes characteristic of the Zimbabwean energy sector. The key challenge in the energy sector was inaccessibility of energy to the majority of the population which left non-renewable energy as the only option. “Latest figures from ZIMSTATS indicated…
As natural disasters threaten the most vulnerable people in the Southern Africa and Indian Ocean region, the EU is providing €7 million in humanitarian aid to increase the capacity of communities and authorities to prepare for and respond to disasters. This aid is in addition to the approximately €17 million in EU humanitarian assistance given…
Kenya Airways adds to the 15,468 aircraft with GE Aviation’s digital solutions Maximizing Airline Efficiency with the Most Accurate Data and Analytics; Kenya Airways (www.Kenya-Airways.com) adds to the 15,468 aircraft with GE Aviation’s (www.GEAviation.com) digital solutions. Kenya Airways has selected GE Aviation for the Flight Operations suite of digital products across the airline’s fleet of…
Fish accounts for more than one-fifth of the protein intake of African south of the Sahara and provides a livelihood to millions of people Africa’s small-scale fisheries play a critical role in global food security and must be supported with greater research and investment, say international and African experts. Industry, NGO, government and academic representatives…
Led by CEO Nj Ayuk, the team is meeting with several high-profile Chinese executives and energy companies seeking to invest in sub-Saharan Africa A team of attorneys from Centurion (https://CenturionLG.com) is in China this week to participate in the EG Ronda Licensing Roadshow being held today and tomorrow at the Kempinski Hotel Beijing. Led by…
This 2-day roadshow is a demonstration of what the Chamber can accomplish for African governments and private stakeholders The biggest names in the Chinese energy industry participated in the EG Ronda Licensing Round Roadshow in Beijing yesterday, hosted by the African Energy Chamber (EnergyChamber.org/). This is the first investment roadshow organised by the Chamber in…
By Byron Mutingwende Across a number of counties in Southern Africa, vulnerability assessment and analysis results for the 2018/19 agricultural season paint a gloomy picture but with relevant interventions there is light at the end of the tunnel. This write-up will focus on Zimbabwe. Addressing stakeholders during the Windhoek Regional Vulnerability Assessment and…
ActionAid Zimbabwe (AAZ) in partnership with Zimbabwe Environment Lawyers Association (ZELA), AfroSoft Private Limited and Africa Breeders Services Total Cattle Management (ABS TCM) has launched the Second Phase of the Zimbabwe Resilience Building Fund (ZRBF) Programme in the Zambezi Valley reaching 45 105 households. Phase 1 of the ZRBF Programme ran from July 2016 to May…
Meeting to consolidate the regional food and nutrition security outlook for 2019 The Southern African Development Community (SADC) Regional Vulnerability Assessment and Analysis (RVAA) programme’s annual dissemination meeting has opened in Windhoek, Namibia with a call to strengthen and prioritise the mainstreaming of climate change into vulnerability assessments and analysis. The meeting that took…
The Zimbabwe Tourism Authority remains committed to working with relevant partners in developing the Joshua Nkomo Heritage Trails into fully-fledge tourism product, an official has said. Speaking today at the 20th anniversary Joshua Nkomo Day Commemorations – Joshua Nkomo Legacy Walk and Umdala Wethu Dance held in Bulawayo, ZTA acting chief executive Mrs Rita Likukuma…
By Charles Dhewa If developing countries are going to only recognise and respect research results from formal research institutes and universities, they will continue excluding diverse voices and stifling ambition. While formal institutions in Africa are doing their thing, ordinary people in farming communities, fishing villages and informal markets are creatively shaping their own future…
Tanzania, which will export maize to some countries plagued by inclement weather and droughts, has emerged the sole shining light in the Southern African Development Community’s (SADC) corn crisis. The country is set to sell 700 000 tonnes of the staple maize food to Zimbabwe, which is enduring reduced yields after the Cyclone Idai ravaged…
By Esther Ngumbi The latest UN Food and Agriculture Organization’s annual Africa Regional Overview of Food Security and Nutrition Report highlighted drought as one of the key factors contributing to the continuing rise in the number of hungry people in sub-Saharan Africa. And in South Africa, the Government’s Crop Estimates Committee announced that the country would harvest 20…
The danger of sticking to ancient technology by financial institutions By Elvis Dvene If a bank is stuck in last century thinking with last century leadership such cultural strategy will lead to eventual failure. I was in a hotel for lunch with a friend, when he asked me: “What do you think about sticking to…
As I see it by Dr Brighton Chireka I have been following the debate going on since the banning of multi-currency in Zimbabwe. Of particular interest is the proposal by our physicians to have their medical fees paid as RTGS to comply “with the law”. Prior to this some of the physicians were being paid…
Standard Chartered announce launch of social banking solution for Africa in Kenya, Uganda, Ghana and Tanzania Digital banks now available in Botswana, Zambia and Zimbabwe as part of the Bank’s digital transformation strategy for Africa. Standard Chartered (https://www.SC.com/) today announced yet another multi-market launch of its digital bank in Botswana, Zambia and Zimbabwe as part…
Associations representing workers in the informal economy throughout Zimbabwe have formed an alliance under the theme “The Informal Economy Matters”. The associations under the alliance are the Bulawayo Vendors’ and Traders’ Association (BVTA); Vendors’ Initiative for Social and Economic Transformation (VISET); Women Alliance of Business Associations of Zimbabwe (WABAZ); Zimbabwe Chamber of Informal Economy Associations (ZCIEA);…
By Byron Mutingwende Joseph Makamba Busha, the President of FreeZim Congress, has approached the High Court to force government to set aside Statutory Instrument (SI) 33 of 2019. On the 20th of February 2019, John Panonetsa Mangudya, the Governor of the Reserve Bank of Zimbabwe announced a Monetary Policy Statement which brought to the…
By Tatenda Mujeyi The Premier Service Medical Aid Society (PSMAS) is geared for extensive growth in the future, the medical utility said at its annual general meeting in Harare today. The medical aid society which historically assumed popularity for the wrong reasons has turned a new page as it gears for continued growth. “In the…
In recent weeks a new Econet business has “swept” the city of Harare — quite literally. Clean City is a digital platform used by private waste collection companies to collect rubbish bins from homes. It uses a franchise business model and is simply providing a digital platform that links companies that collect waste with private…
International and Pan-African organisations agree to collaborate on initiatives following successful ABEF2019 The prospect of a fully sustainable Blue Economy for Africa gathered significant momentum following the second Africa Blue Economy Forum (ABEF2019) (www.ABEF2019.com) held in Tunis on 25-26 June. Fishing, aquaculture, shipping, ports, energy and finance industries all came under the spotlight at ABEF2019,…
The Zimbabwe Tourism Authority has assured all visitors to Zimbabwe that the recently promulgated Statutory Instrument 142 of 2019: Reserve Bank of Zimbabwe (Legal Tender) Regulations, 2019 will not negatively affect the travelling public, specifically foreign visitors. The organisation said the regulations are meant for any transactions carried out within Zimbabwe, where it is now…
By Davison Kaiyo African countries have been urged to plug the haemorrhaging of financial resources through aggressive tax planning and avoid increasingly opening themselves to tax havens’ exploitation. Speaking at the opening ceremony for the sixth edition of the International Tax Justice Academy in Dakar Senegal running from the 24th to the 28th of June…
By Tatenda Mujeyi ZIMRE experienced mixed fortunes in its 2019 first quarter operations which were 12 % below budget owing to policy shifts and the challenging economic environment. The group noted that the policy arrangements that were drawn following the monetary statement of February had changed the operations within business reporting standards. “I must hasten…
Econet’s innovation, Ecofarmer, a mobile-based insurance services programme epitomises the important role that technology can play in achieving gender equality. Ecofarmer is a mobile technology solution, which delivers weather-based insurance, real-time, location-based weather information and farming tips via cellphone, that is helping producers to combat the effects of climate change. Statistics show that Zimbabwe is…
By ZIMCODD On 24 June 2019, the government abolished the 10-year-old multi-currency regime in the country making the Zimbabwe dollar the sole legal tender. The Zimbabwe Coalition on Debt and Development (ZIMCODD) bemoans the apparent policy inconsistency and premature knee jerk reaction. The need for a local sovereign currency is not disputed, however the government…
The Strategic Water Supply and Sanitation Improvement Project will support the rehabilitation of approximately 50km of the Juba town distribution network and related works The Board of Directors of the African Development Bank (www.AfDB.org) on June 20, 2019, approved a proposal to commit $24.7 million to finance the South Sudan Strategic Water Supply and Sanitation…
Over 1500 delegates, including a record-breaking number of 16+ government ministers will attend the event in Cape Town As the leading event for Africa’s upstream, Africa Oil Week (Africa-OilWeek.com) is committed to staying at the cutting-edge of developments in oil and gas. Over 1500 delegates, including a record-breaking number of 16+ government ministers will attend…
By Tatenda Mujeyi Pro Plastics noted first quarter United States Dollar (USD) sales growth of up to 60% and anxieties brought through SI 142 as continuing Government’s constant policy shift at their Annual General Meeting (AGM) in Harare. “Direct USD sales had improved significantly at the expense of the RTGS. At the beginning of the…
By Tatenda Mujeyi Transparency International Zimbabwe (TIZ) is engaging in a research on the implications of corruption from a gender perspective. This emerged at a breakfast meeting the organization held today in Harare. The gendered challenges of corruption are argued to be affecting mainly women as the patriarchal nature of Zimbabwean society guaranteed male participation…
The African Export-Import Bank (Afreximbank) and the Central Bank of Tunisia have signed an agreement for a $500-million Tunisia-Africa Trade and Investment Promotion Programme which will be used for providing financing aimed at promoting and expanding trade and investments between Tunisia and the rest of Africa. Under the terms of the agreement sign in Moscow on 22 June, Afreximbank will…
By Veritas Yesterday morning an important statutory instrument was published in a Government Gazette Extraordinary: the Reserve Bank of Zimbabwe (Legal Tender) Regulations, 2019 (SI 142 of 2019). The instrument can be viewed on the Veritas website [link]. The effect of the instrument is that from yesterday only RTGS dollars, whether in the form of…
The announcement was made to energy sector stakeholders at a sideline event held during the Africa Energy Forum, which took place in Lisbon, Portugal The African Development Bank (www.AfDB.org) announced a EUR 40 million investment from the European Commission for the Facility for Energy Inclusion (FEI), a new platform for financing small-scale renewables in Africa. The…
By Alex Magaisa The most significant news from Zimbabwe today is the dramatic return of the Zimbabwe dollar. Zimbabweans woke up to the news of a legal instrument, Statutory Instrument 142 of 2019, which reintroduces the Zimbabwe dollar and ends the multi-currency regime. The purpose of this note is not to assess the legality of…
By Nevson Mpofu Zimbabwe has been encouraged and pushed forward to increase its National Budget on Nutrition from 0, 45% to 3%. An Expert in Nutrition Kudakwashe Zombe of Zimbabwe Civil Organisations Society Scaling Up Nutrition Alliance (ZCSOSUNA) speaking in Harare highlighted the need to consider Nutrition Health as the only way-forward to eradicate or…
By Charles Dhewa As buying patterns signify ordinary people’s priorities, developing countries should invest more in finding pockets of opportunity from micro-markets than pursuing mega deals. In most African countries, much of the overlooked growth is within open food markets from which the majority get food and income. An outside observer may see open markets…
The President will be presented the award during the conference, during which he will also present the keynote address Africa Oil & Power (https://AfricaOilandPower.com) will present the award to H.E. Macky Sall at its annual conference in Cape Town; H.E. Macky Sall is renowned for his efforts to revive Senegal’s economy and create an attractive…
Digital ventures already have more than 33 million registered users, according to study by the Technical Centre for Agricultural and Rural Cooperation (CTA) and Dalberg Advisors. More than 90 per cent of the market for digital services that support African smallholders remains untapped and could be worth more than €2 billion (US$2.26bn), according to a…
