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“Suspended” Tsvangirai counters with expulsion of “opportunist” Biti

“Suspended” Tsvangirai counters with expulsion of “opportunist” Biti

Zimbabwe‘s opposition leader Morgan Tsvangirai says his rival Tendai Biti has been expelled from their MDC party, along with eight other members. Mr Biti was an “opportunist” who was being manipulated by President Robert Mugabe‘s Zanu-PF party, he said. On Saturday, a faction led by Mr Biti said Mr Tsvangirai…

Confusion in Zimbabwe’s MDC as party rivals announce Tsvangirai suspension

Confusion in Zimbabwe’s MDC as party rivals announce Tsvangirai suspension

A faction in Zimbabwe’s main opposition movement said on Saturday it had suspended party leader Morgan Tsvangirai for “fascist” tendencies and failing to oust veteran President Robert Mugabe, deepening divisions in the opposition ranks. The group led by Tendai Biti, secretary-general of the Movement for Democratic Change (MDC), accused Tsvangirai…

Mugabe appeals for FDI, promises respect for property rights

Mugabe appeals for FDI, promises respect for property rights

President Robert Mugabe on Friday appealed for more Foreign Direct Investments to stimulate Zimbabwe’s underperforming economy, promising to respect property rights for investors. Zimbabwe has of late signalled intention to relax its controversial empowerment policy that President Mugabe’s ZANU-PF has championed using a 2008 law that requires all foreign firms,…

Zimbabwe enters deflation, recovery prospects curtailed

Zimbabwe enters deflation, recovery prospects curtailed

Zimbabwe’s limping economy has entered into deflation with official figures released by Zimbabwe National Statistics Agency (Zimstat) for March showing consumers prices declined by 0.91 percent having gone down by 0.49 percent in February. “This means that prices as measured by the all items Consumer Price Index decreased by an…

Cambria Africa confident MillChem and Payserv investments will yield results

Cambria Africa confident MillChem and Payserv investments will yield results

Cambria Africa (LON:CMB) told investors that it continued to invest in the future last year as put together regional expansion plans for the MillChem and Payserv businesses. “We are confident that the positive impact of regional expansion into Zambia, together with the launch of various new products, will yield results in the…

Cambria raises US$4 million in oversubcribed private placement

Cambria raises US$4 million in oversubcribed private placement

Cambria Africa (LON:CMB) is raising US$4.06mln issuing new shares in an oversubscribed placing. The cash will provideworking capital to support the expansion of the Millchem and Payserv Africa businesses. A regional and product roll-out strategy for both Millchem and Payserv has been developed, and Cambria says it is excited about the…

Govt needs $27 billion to fund ZimAsset – official

Govt needs $27 billion to fund ZimAsset – official

The government needs at least $27 billion to fund projects it has planned under its five-year economic blue print, the Zimbabwe Agenda for Sustainable Socio-economic Transformation (ZimAsset), but remains vague about sources of funding, an official has said. “To total financial requirement for ZimAsset is $27 billion up to 2018 with…