Failure, scandal and success: Taking stock of Mnangagwa’s China ‘mega deals’
In April this year, the State-controlled Herald splashed a triumphant headline across its front page: “Chinese company to build $7bn tourism city”. A Chinese firm, the Touchroad Group, planned to build a $7 billion tourism city in Zimbabwe, the paper said, gleefully adding that this came as “investor interest in Zimbabwe by international tourism players […]
National Railways of Zimbabwe defends Transnet deal
National Railways of Zimbabwe (NRZ) has allayed fears that it might have entered into a questionable deal with Transnet, following the issuing of suspension notices to three top officials who were allegedly involved in suspicious procurement of 1 064 diesel and electric locomotives in South Africa. Last week, Transnet’s board issued its chief executive, Siyabonga […]
Zimbabwe says ‘hostility of the West’ putting off renewed investment
JOHANNESBURG (Reuters) – Western hostility towards Zimbabwe is deterring investment, the presidency spokesman said on Tuesday, comments in sharp contrast with President Emmerson Mnangagwa’s previous efforts to woo Western governments. Mnangagwa has made progress in improving Zimbabwe’s relations with Western states before and after he won a July 30 presidential election, the first since the […]
DIDG rolls sleeves in NRZ turnaround… gets 50percent stake to manufacture rail sleepers
DIASPORA Infrastructure Development Group (DIDG) has acquired a 50 percent stake of the country’s sole manufacturer of rail slippers Fort Concrete and will inject $3 million into the Gweru-based company to start manufacturing the slippers for the rail track rehabilitation project. DIDG won the $400 million tender to recapitalise and operate the National Railways of […]
So far, signs not pointing to investor interest in Zimbabwe
A quick search done on Zimbabwe on the Google search engine yesterday in the morning under the news section, before scrolling down the page, gave eight stories on the country, with five being negative. Therefore, if a foreign investor did a simple web search of the country today, the news they would be met with, […]
Zimbabwe’s contested election muddles its pitch for foreign investment
Zimbabwe’s presidential elections in July were supposed to be a chance for the southern African nation to show the world that it’s moved beyond the authoritarianism and economic isolationism that marked former President Robert Mugabe’s rule. That hope faded when six people were killed in post-election protests. Officially, ruling-party candidate Emmerson Mnangagwa won a razor-thin […]
National Railways of Zimbabwe equipment lease deal pays off
THE National Railways of Zimbabwe (NRZ) says its decision to hire equipment from Transnet South Africa has started paying dividends, with cargo freight volumes increasing since April this year. “As part of the NRZ’s $400 million recapitalisation deal with the Diaspora Infrastructure Development Group (DIDG) /Transnet Consortium, the NRZ is leasing equipment from Transnet as […]
First-ever Nutrition Africa Investor Forum to discuss tackling malnutrition by attracting private sector investment into the dynamic African food industry
The Global Alliance for Improved Nutrition (GAIN) (www.GainHealth.org) – an international organisation founded by the Bill and Melinda Gates Foundation and driven by the mission of a world without malnutrition- is hosting the first-ever Nutrition Africa Investor Forum (NAIF) in Nairobi, Kenya, on October 16-17, to invite and engage private sector investors to play a […]
DP World to Build and Operate New Logistics Hub in Mali
Global trade enabler DP World (http://web.DPWorld.com) has signed a 20-year concession with an automatic 20-year extension with the Republic of Mali to build and operate a 1000-hectare modern logistics hub outside of Bamako, the capital and largest city of Mali. The multimodal logistics platform, Mali Logistics Hub (MLH), will have inland container depots (ICD) and […]
Post-Mugabe Zimbabwe set to frustrate eager investors
A European investor’s phone rings in a Harare restaurant and it’s good news: an $80 million construction deal has been agreed with the Zimbabwean government. All that’s needed now is a central bank guarantee letter. It never arrives. President Emmerson Mnangagwa, who took power when Robert Mugabe was removed in a de facto coup last […]
