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Econet provides a timely boost for Zimfest

Zimbabwe's biggest global festival Zimfest received a timely boost when telecoms Giant Econet agreed to become a headline sponsor for the event through their new UK MVNO operation Econet Wireless UK. The recently agreed package will see Econet Wireless UK granted exclusivity as telecoms partner to the event and will open up a number of cross selling opportunities for the two organisations.

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Invesco Perpetual buys into Zimbabwe

Invesco Perpetual star manager Neil Woodford has committed $25m to a new AIM-listed vehicle which will make investments in troubled African nation Zimbabwe.

 
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Diamond trade key to Zim’s turnaround
HARARE (Zimbabwe Investor) - As it has become clearer that Zimbabwe will not be experiencing large inflows of foreign direct investment (FDI) as anticipated following the consummation of the inclusive government via the Global Political Agreement (GPA), the country’s ability to trade its diamonds is now being seen a key to any turn around efforts. 
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Distress at RBZ threat to banking sector - IMF

HARARE (Zimbabwe Investor) - Zimbabwe’s banking system is facing increasing risks in a number of areas according to the International Monetary Fund (IMF) report released in July following their meeting with Zimbabwean authorities in March 2010.

 
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This is football – Rainbow nation celebrates WC in Birmingham, UK

LONDON (Zimbabwe Investor) - When Germany was announced as the hosts of the 2006 FIFA World Cup despite South Africa being strong favourites the choice was greeted with surprise and indignation around the world. In South Africa Mandela’s Rainbow Nation had gathered to celebrate their impending victory but they instead had to break out into a moving rendition of “Senzeni na” (What have we done to deserve this) to demonstrate their sense of injustice. Singing was their natural response.

 
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Government to focus on economic development, 5.4% growth expected

HARARE (Zimbabwe Investor) – Zimbabwe’s inclusive government is to continue prioritising economic growth momentum, President Robert Mugabe has said in his address to open the 3rd session of the 7th Parliament of Zimbabwe in Harare on 13 July 2010 in which he announced a revised growth target for the year to 5.4%.

 
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Power cuts freeze OK profits

HARARE (Zimbabwe Investor) - Zimbabwe’s largest supermarket chain, OK Zimbabwe, generated US$187.5 million in revenue but profitability was weighed down by refrigerator failure emanating from frequent power cuts, Chairman David Lake has said in a statement to shareholders for the announcement of the company’s financial results for the year ending March 31, 2010.

 
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Gold output to double in 2010

ZIMBABWE'S gold production this year is set to double despite a lack of capital, frequent power cuts and uncertainty over an ownership law that are stalling the sector's recovery, an industry official said on Wednesday.

 
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