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It’s business as usual with Zimbabwe’s bond note, for now

It’s business as usual with Zimbabwe’s bond note, for now

It has been over two weeks since the Reserve Bank of Zimbabwe (RBZ) released its controversial bond note into the market at a denomination of $2, and the initial protests and public uproar have died down with consumers heading into the festive season. As economist John Robertson, managing director at…

There are barriers, but investing in Zimbabwe could pay off long term

There are barriers, but investing in Zimbabwe could pay off long term

The evidence of Zimbabwe’s ailing economy is everywhere: massive unemployment, numerous companies going to the wall each month, a weak annual economic growth rate, and high day-to-day living costs, writes Bill Corcoran. Since President Robert Mugabe’s Zanu-PF party won the 2013 general election, a relatively stable economy has begun to decline, to…

Mwana Africa’s Chinese non-exec sells shares, as court puts on hold proceedings on his petition

Mwana Africa’s Chinese non-exec sells shares, as court puts on hold proceedings on his petition

Mwana Africa (LON:MWA) has told investors that non-executive director Ning Yat Hoi and China International Mining Group Corporation (CIMGC) have disposed of around half their shareholdings. In a stock market statement Mwana said that Ning and CIMGC had sold 81.4mln and 106.2mln shares respectively at a price of 1.8p per…

South Africa faces backlash over xenophobic attacks on migrant workers

South Africa faces backlash over xenophobic attacks on migrant workers

South Africa is facing a backlash from the rest of the continent over the targeting of immigrants in a wave of xenophobic violence. South African vehicles were pelted with stones in Mozambique on Friday and South African companies are reportedly being threatened with closure in Nigeria. Protests have been held…

Mwana Africa makes progress on cutting costs as gold production increases

Mwana Africa makes progress on cutting costs as gold production increases

Mwana Africa (LON:MWA) made steady progress at its gold, nickel and diamond producing assets in the first quarter of 2015. At the Freda Rebecca gold mine in Zimbabwe, gold production increased quarter-on-quarter by 0.42% to 14,358 ounces, as the recovery rate increased to 83% from 78%. The need to work…