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Chinese In Mad Rush For Zimbabwe’s ‘New Oil’

As Chinese investors tighten their grip on lithium resources, especially in Africa and South America, in a bid to secure raw materials for its processing facilities back home, as the world transitions to cleaner energy electric vehicles, Zimbabwe has not been spared in the scramble for the “New Oil”. Zimbabwe, …

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Correspondent Banks Exodus Gridlock Payments: RBZ

The Reserve Bank of Zimbabwe (RBZ) says the exodus of correspondent banks out of Zimbabwe is behind payment gridlocks confronting exporters and importers. The central bank estimates that at least 102 correspondent banking relationships have been lost over the last decade due to Zimbabwe’s high-risk profile. A correspondent bank, which …

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Zimbabwe Clears 90pc Of Debt To Airlines

Zimbabwe has cleared 90% percent of its obligations to international airlines which amounted to about US$100 million, the International Air Transport Association (IATA) revealed Wednesday. As of July this year, The Harare administration, together with Nigeria, had between them owed some US$565 million of the $1.4 billion in airline revenues …

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Chinese Firms In Horrendous Labour Violations: ZCTU

The Zimbabwe Congress of Trade Unions (ZCTU) has warned top government officials and consultants covering up horrendous labour rights violations perpetrated by Chinese-owned companies. The union contends that since the arrival of Chinese capital in the country, a series of labour rights violations, which include murder of local workers, torture, …

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Treasury Starved Hospitals Of Medicines: Chiwenga

Vice-President Constantino Chiwenga, who is also Health minister, has revealed that hospitals were this year starved of medicines by Treasury after it only released $5 billion of the Health ministry’s $15 billion allocation. This resulted in the ministry only managing to procure 14% of the required medicines for hospitals this …

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New Parly Land Owner Sues Govt For Failure To Pay

Government has been sued for reportedly failing to compensate the claimed owner of the land where the country’s new Parliament building was constructed. Touted as a gift to Zimbabwe, the building US$140m building was constructed in Mt Hampden, some 18km, northwest of Harare. The imposing 650-seat structure heralds the start …

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