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Mugabe's exit does not guarantee economic success: Standard Bank
By Thulani Khoza 07-08-08
NEITHER President Robert Mugabe’s departure from office nor a globally accepted transition government can guarantee the success of any policy aimed at rebuilding Zimbabwe, a prominent regional bank has said. Full Story
| The coins return to Zimbabwe - Comment | ||||
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Staff Reporter [30-07-08 2000H]
The central bank of Zimbabwe governor has announced new currency reforms that will see the knocking off 10 zeros on all denominations but has not addressed the fundamentals of the hyperinflation affecting the currency. Full Story
Gono to introduce
new currency
By
Blessing Chapwati
[29-07-08 1335]
HARARE - Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono will on Wednesday
announce his half-year monetary policy statement which many expect to address
the prevailing cash crunch and monetary measures to tame the run-away
inflation the country is experiencing.
Full Story
Zim Business Community calls for speedy negotiations
Staff Reporter
HARARE-Zimbabwe's business community has thrown its weight behind the historic memorandum of understanding which was signed by the principals of the country's main political parties on Monday. Full Story
Mugabe's 100% indigenous empowerment
Disgruntlement...Mugabe's campaigning poster in the 27 June presidential election plastered with messages of disgruntlement. Mugabe intends to seize shareholding from foreign owned companies and give them to indigenous people. 100 % empowerment was his trump card in the June election.
Selected articles in Archives:
SA
power cuts hit Rio Tinto project
Staff
reporter
Global resources group, Rio Tinto Alcan says it is reviewing the
construction of a US$2 billion Aluminium smelter as South Africa’s
power supply crisis continues to undermine the country’s key mining
sector. Full Story
RBZ splashes billions on court victory celebration
Gideon Gono, RBZ Govenor Harare from the Kopje
Posted in News Updates on 19th February, 2008
By Thulani Mpofu
BULAWAYO - Reserve Bank of Zimbabwe (RBZ) Governor,
Gideon Gono has splashed billions in public funds on advertisements in national newspapers to celebrate a recent court ruling which absolved the central bank in a foreign currency case. Full Story
Mining sector hit by skills flight
By a Correspondent
Zimbabwe’s
mining industry has been hit by a huge skills flight workers move abroad
to escape the country’s hyper-inflationary environment. The sector,
previously a key foreign currency earner, was already up against the
wall weighed down by a host of problems that include debilitating
foreign currency shortages, power supply problems and bad economic
planning.
These problems have seen the country missing out on the current commodities boom which has seen world market prices for gold and platinum, key exports for the country, scale record levels.
The
Zimbabwe Chamber of Mines says the sector is now losing professional and
technical staff to neighbouring South Africa and Mozambique where they
get salaries ten-times higher than that what the local industry is
paying.
A
report by the Chamber says the sector lost more than half its skilled
personnel in the last year alone.
Chamber President, Jack Murehwa told AFP that South African companies were collecting artisans and other skilled workers by the bus-loads adding there was little the local industry could do to stem the drain.
Current rates for a mining technician in Zimbabwe work out to less than US$200 while in South Africa they can expect to earn up to US$2,500 US dollars a month.
The central bank says in 2006 the country earned US$802 million from mineral exports with most companies however, operating well below capacity.
The industry has expressed concern over continuing power supply problems, the country’s exchange rate policy with an even bigger cloud hovering in the horizon in the wake of government moves to localise mine ownership.
ZimEye