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Zimbabwe
Top Stories
for the 15 Dec - 21 Dec
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OK Zimbabwe Limited is struggling with severe liquidity shortages, prompting plans to sell $27.7 million in properties. Cash constraints have caused stock shortages, disrupted supply chains, and slashed half-year revenue by 84% to $28.26 million, producing a net loss of $17.81 million. Management secured banking facilities, used supplier-finance arrangements, and aims to stabilise operations, restore liquidity, and rebuild inventories to improve trading performance.
Zimbabwe’s merger landscape has increasingly been dominated by local companies as economic pressures force firms to consolidate for survival. Competition and Tariff Commission data showed domestic deals made up 54% of mergers reviewed in 2024. This marked a shift from foreign-led activity. Although overall merger volumes and values dipped, economists said currency instability, inflation, and rising costs are pushing businesses to strengthen balance sheets through local consolidation.
A Lower Gweru miner has risen from artisanal gold panning to running a multimillion-dollar mine, crediting empowerment policies under Zimbabwe’s Second Republic. Tawanda Muchenurwa’s Birthday Mine employs over 100 workers and produces more than 1.5kg of gold monthly. His story reflects the growing role of small-scale miners, who now contribute about 75% of Zimbabwe’s gold output, supporting jobs and local livelihoods.
Air Tanzania will launch twice-weekly flights linking Victoria Falls, Dar es Salaam, and Cape Town. The Zimbabwean Open Skies Policy enables the route. It positions Victoria Falls as a growing aviation hub and promotes multi-destination travel across Southern and East Africa. Stakeholders expect tourists to stay longer, spend more, and boost regional marketing. They emphasize the need for reliable operations and competitive pricing.
Zimbabwe officially reserved 14 economic sectors exclusively for citizens, requiring foreign-owned businesses in these industries to cede 75% control to locals within three years. The regulations, under Statutory Instrument 215 of 2025, cover areas including transport, beauty services, bakeries, artisanal mining, and pharmaceutical retail. Compliance mandates annual 25% divestments, with non-adherence risking license suspension or cancellation. The policy aims to protect low-barrier sectors from foreign dominance and expand local economic participation.
Econet Wireless Zimbabwe plans to delist from the Zimbabwe Stock Exchange, citing persistent undervaluation relative to regional telecom peers. The company will restructure by spinning off its passive infrastructure into Econet Infrastructure Company Limited, to be listed on the Victoria Falls Stock Exchange. Econet will retain 70% ownership, with 30% earmarked for shareholder settlements. The strategy aims to unlock value and align with continental telecom best practice.