Zimbabwe Economic Review
@ZimbabweReview
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BREAKING: Invictus declares a gas discovery in Zim.
“The Govt of Zim is pleased to announce that Geo Associates & its partners Invictus Energy and One Gas Resources have successfully declared a gas discovery in Zim through the ongoing exploration activities in Muzarabani👇🏿
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Civil Servants now taking home US$ 450.00.
✳️Current covid allowance: US$ 250
✳️New approved US$ component: US$50
✳️ZWL component to be pegged at equivalent of US$150 at prevailing interbank rate.
✳️Teachers are paid extra US$80
✳️Pensioner’s allowance now US$ 100.
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President ED Mnangagwa met former President of Mozambique, Cde Joachim Chissano at State House in Harare this morning.
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It's done, unit # 7 hits the grid with 300 MW
Hwange Expansion Project sucessfully completed the rolling of
#7
unit of steam turbine at rated 3000rpm on November 15, 2022 for the first time!
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Another wheat record for Zimbabwe.
Zimbabwe’s record wheat produce now stands at 465 000 tonnes.
The harvest from this year’s winter wheat crop is 100 000 tonnes more than national demand, which presently stands at 360 000 tonnes.
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46km of Harare-Mutare dualisation complete, open to traffic
46 KMs of dual carriageway have now been completed and opened to traffic on the stretch between Harare and Marondera.
Last Friday, 6km that are part of the 46km, were officially opened to traffic by Transport and
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David Kuda Mnangagwa,
Age: 34-years.
Youth quota MP for Midlands.
Qualifications:
✅Actuary Scientists- Drake University,
✅Law Degree
Working Experience:
✅Aon Insurance.
✅National Building Society board member.
✅Flame-Lily Venture Capital
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Zimbabwe has a new currency.
"With effect from today, banks shall convert the current Zimbabwe dollar balances to ZiG. Zimbabweans have 21 days to exchange ZWL notes for ZiG.
"I don't believe in taking people's money. The ZiG will circulate with other currencies in the
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At 12:40 PM today, the newly constructed RG Mugabe Airport apron welcomed its inaugural international flight, ET872.
The state-of-the-art boarding bridge, manufactured by CIMC TIANDA, flawlessly connected with the international aircraft.
With its expanded and generously
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US$30m state-of-the-art Bakery Plant in Bulawayo by Bakers Inn is 90% complete.
The installation of a US$30 million state-of-the-art Bakery Plant in Bulawayo by Bakers Inn is 90% complete. The bakery will be the biggest in Zimbabwe and will be producing 200 000 loaves per day.
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Why currency with QR Code Money.
RBZ introduced QR Code Money. Introduction of QR Code-Based Digital Currency has exciting implications for Future Transactions.
Here's why it's a big deal:
🔗 Integrated with blockchain for security & transparency
💳 Seamlessly links with
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ZIMPLATS spends US$239mil on local equipment suppliers.
Zimplats spent 56% of equipment supply& consumables on local suppliers as part of its responsibility to empower local communities, the group owners Implats said.
Implats said Zimplats spent US$239m with Zim local suppliers
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Zimbabweans will soon buy groceries with Gold coins and gold-backed digital tokens.
🟢The Bank will undertake an awareness campaign in all the national provinces in preparation for Phase II (Transactional Phase) of the Gold-Backed Digital Tokens (GBDT), which is at an advanced
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Output of Hwange Unit 7 first achieved full capacity of 335MW at 09:27, 30th March.
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RBZ's Mangudya responds to IMF on the recommendation to phase out gold coins.
He says RBZ will not phase out gold coins.
"The IMF mission team to Zimbabwe did not fully appreciate the bank’s noble objective of introducing gold coins into the domestic economy."
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The construction of 220 units for Beitbridge Border staff houses is now complete.
🔘220-unit Beitbridge border staff village construction completed.
🔘Staff village is part of the ZimBorders Border modernization deal.
@MinistryofTID
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Bikita South Constituency results:
🔘Mutodi Energy: 11,396 (ZANU PF)
🔘Nyika Barney: 6,622 (CCC)
CCC candidate congratulated the winner Mr. Mutodi.
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.
@edmnangagwa
will announce his VPs tomorrow.
Full diary:
🔵0740hrs - Swearing-in Ceremony of the Vice Presidents at State House.
🔵0845hrs - UZ Graduation Ceremony, UZ.
🔵Courtesy calls to congratulate H.E at the State House:
1400hrs - Bulawayo Province
1430hrs -
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Sakunda Holdings equips Tongogara Polyclinic to the tune of US400 000.00
SAKUNDA Holdings made a donation of medical equipment worth US$400 000 to modernise Tongogara Clinic constructed by the Zimbabwe Defence Forces (ZDF)
The ZDF handed over a state-of-the-art clinic to
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Zimbabwe in big export story… Feb exports in numbers.
Exports increased by 37% to US$1.18 b between Jan & Feb 2024.
🔵Imports rose by 12% to US$1.41 b during the same period.
🔵Trade deficit reduced to US$234 million from US$392 million in 2023.
🔵Exports to South Africa
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66% of Harare - Beitbridge Road opened.
Harare - Beitbridge Road 385km out of 580km opened to the public.
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Tollgates fee has been reduced By 50% of proposed toll fees.
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260.6 km opened to traffic on Harare Masvingo Beitbridge Road.
Update date: Wednesday (01/12/2021)
1 Bitumen ..60km
2 Fossil ..60km
3 Masimba ..49.2km
4 Tensor ..46.2km
5 Exodus ..38km
6 DoR ..7.2km
Total ..260.6km
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ZPC Power generation improves.
At 1800MW peak, ZPC is now generating 60 % of the peak demand requirements
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GOVERNMENT has commissioned more than 90 service vehicles to enhance the operations of the Zimbabwe Prisons and Correctional Service (ZPCS).
The vehicles include court trucks, escort vehicles and minibuses.
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BEITBRIDGE BORDER PROJECT DETAILS.
✅Cost: US$296m
✅New housing dvpmnt.
✅Facilities for informal traders &public amenities.
✅Fire station
✅Housing sewer lines
✅Housing electrical supply lines
✅Reservoir, water lines
✅Wastewater treatment plant & a water pump station.
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US$153M RG Mugabe International Airport to be completed June 2022
The US$153 m project will add a new international terminal building & aprons, four new bridges, a secondary radar system, a VVIP pavilion, & an airfield ground lighting and communication system, among other things
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RGM international Airport
🔘Financing: US$153m loan from China Eximbank.
🔘The loan signing date: Dec 2017.
🔘Ratified by Parliament in May 2018.
🔘Ground breaking:July 2018.
🔘Loan tenure: 20 years
🔘Interest: 2% p.a interest rate
🔘Honeymoon/grace period 7-years
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THE Midlands State University (MSU) has embarked on an US$11 million modified coal tar plant that is expected to create 2 500 jobs and save the country 40 percent of the money it uses to import bitumen.
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President Mnangagwa has commissioned Hwange Units 7 Units and 8 Expansion Project.
This project added 600MW to the national grid
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First satellite goes into space today
Zim’s first-ever satellite – ZimSat-1 – will begin its historic journey into space at around 11.30am today in a development that is likely to herald multiple benefits for the country’s development drive.
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The Hwange Unit 7 Synchronisation process.
ZESA HOLDINGS Executive Chairperson, Dr. Sidney Gata in the company of engineers and other technical staff going through the Synchronisation process at the Hwange power station.
Unit 7 will add 300MW to the National Grid
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Beitbridge-Bulawayo-Victoria Falls Road rehabilitation update.
5km opened to traffic (Hwange Section)
Priming in progress on the rehabilitation and reconstruction of Beitbridge-Bulawayo-Victoria Falls road.
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Good news as Zimbabwe is soon to add extra 300MW.
Min Zhemu Soda:
✅“I am pleased to announce that on 16 May we will witness the syncronisation of Unit 8 and getting connected onto the national grid.”
✅“In June we will have Unit 7 being available commercially.”
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Zimbabwe gold and cash reserves.
🔵1 100 kgs of gold at RBZ
🔵1 500 kgs gold held offshore.
🔵RBZ cash reserves of US$100m.
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Zim secures 30 tonnes beef export market in the DRC.
✳️ZIMBABWE can now export beef to the DRC after the Agricultural Marketing Authority (AMA) finalised an agreement for the sale of over 30 tonnes of beef/month to DRC.
✳️The arrangement is being made after a trade mission of
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Hwange unit 7 has now officially passed all the tests.
Unit number 7 of the Hwange Power Station Expansion Project obtained the COD (Commercial Operation Date) certificate, which certifies that unit 7 was officially put into commercial operation at 0:00 on July 27.
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President Mnangagwa will not seek third term.
“Well, I am very happy that Zimbabweans are very imaginative,” he said.
“They can imagine about anything, which shows there is democracy in the country, you see.
“But we in ZANU PF are very democratic and we obey the Constitution.
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Government has provided financing towards Bulawayo-Victoria Falls Road.
Works to repair the road have begun. See pictures below👇🏿
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Cost & Procedure of getting gold mining claims in Zim.
THREAD
✅You must first choose which province you want to conduct mining in. You then go to the provincial office to purchase a Prospecting license costing ZWL1000.
Credit:
@Mining_Zimbabwe
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Zimbabwe wheat harvest in numbers.
🟣2023: 467 905 t (90 186ha)
🟣2022: 375 000 t (81 000ha)
🟣National requirement: 360 000 t
Mash West: 138,000
Mash East: 86,187
Mash Central: 85,541
Midlands: 64,364
Manicaland: 60,797
Mat South: 24,231
Masvingo: 8,692
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Zim to revert to ZW$:
@edmnangagwa
“We must bite the bullet, whether it gives us some suffering for a period, we shall proceed to have our own currency, not a situation where the economy has a regime of currencies in use, we want a single currency & we are going there,”he said.
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Mining grew from US$3.7 billion in 2018 to US$12 billion.
Today President told his supporters that: The Second Republic has transformed mining from $3,7 billion to over $12 billion using locally available resources.
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On Thursday
@edmnangagwa
commissioned the Sabi Star lithium floatation plant in Buhera.
Details.
The plant will be capable of processing low-grade spodumene with high efficiency and output.
Costs
🟢Plant construction cost: US$ 45m.
🟢Exploration cost: USD 6m.
Employment
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Zimbabwe opens new parliament.
Zimbabwe to use it's new parliament for the first time next week, on 23 November 2023.
There will be a State of the nation address by President Mnangagwa.
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Dr Mangudya: We can't can’t dollarise.
“But we can’t dollarise, we cannot be competitive in a dollarised environ, we need to look at the national interests; this economy cannot sustain dollarisation, we have limited forex; we leave from hand to mouth (in terms of forex).
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Olivine to increase margarine production 10 fold.
CEO Sylvester Mangani,said the company was investing US$24m into a new margarine plant to meet demand.
Entity was currently producing 500t of margarine a month, which would increase to 4 500t when the new plant is installed.
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Current upgrading of Beitbridge to Harare will proceed to Chirundu.
Chirundu border post to be renovated soon.
Minister of transport
@MhonaFelix
said
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Zim Avocado exports defy falling prices, rise 38%
AVOCADO export volumes surged 38 %
🔘Jan-June 2023: 4.5 kgs million
🔘Jan-June 2022: 3 kgs million
Earnings recorded a 10 %.
🔘Jan-June 2023: US$1 647 462.00
🔘Jan-June 2022: US$1 498 363.00
The average price took
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Harare-Masvingo-Beitbridge 80% complete.
THE rehabilitation of the Harare-Masvingo-Beitbridge Highway is about 80% complete with 470km out of the total 580km of the road now opened to traffic.
Yesterday, Govt opened a 5,4km stretch in Mvuma which was recently reconstructed.
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Gradually Zimbabwean horticulture industry is on a recovery path.
This video shows produce destined for international market.
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Unit 7 is back on the grid with 300MW.
💠Hwange: 964MW.
💠Kariba: 540MW.
💠IPPs: 38MW.
TOTAL: 1 542MW.
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Zimbabwe yr 2022 exports to African Countries numbers:
🟢Exports to 31 African states; US$3,1b
🟢Exports to South Africa: US$2,75b
🟢Exports to Zambia: US$89,88m
🟢Exports to Botswana: US$37m
🟢Exports to Namibia: US$26,28m
🟢Exports to Sudan: US$20,3m
🟢Exports to DRC:
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This is our newly acquired South African Consulate in Johannesburg.
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RGM AirPort old terminal renovations completed.
China Jiangsu International completed the renovation of the RG Mugabe International Airport's old terminal, enhancing its passenger handling capacity. The revamped right-side flight display offers an improved visual experience.
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Zim to attain wheat surplus first time in 16 yrs.
✅Zim is anticipating more than 300 000mt of wheat this season.
✅The national annual requirement of 360 000mt.
✅Current national wheat stocks stand at 70 000mt,
✅Making Zim wheat self-sufficient for 1st time since 2005.
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Zimbabwe exporting 40 000T of maize to East Africa.
Land, Agric... Perm Sec Dr. John Basera said: “We are also targeting central Africa. We have enquiries in countries in central Africa and we will be exporting over 40 000 tonnes of cereals or maize to East Africa this year. We
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Unit 7 is now back on the grid. It had been switched off for final tests.
🔘Kariba 750MW
🔘Hwange 450MW
TOTAL 1200MW
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Priming in progress on the rehabilitation and reconstruction of Beitbridge-Bulawayo-Victoria Falls road.
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Zimbabwe is generating 99% of its peak demand.
✅Peak demand now 1 700mw.
✅IPPs today generate 39MW from a peak of 24 MW.
✅Hwange hit 1 Gigawatt, this is 2nd time in 2 months.
🔵Hwange - 1 000MW
🔵Kariba Station - 550MW
🔵IPPs - 39MW
TOTAL: 1 681 MW
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Dinson Iron and Steel plant is now 80% complete.
Contractors have deferred the operationalisation of the plant to the first quarter of next year due to unforeseen circumstances.
The mining of iron ore which is a key raw material for the plant has since begun.
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Harare-Beitbridge update as at 20/10/23 Kms
79% opened to traffic. See the breakdown below:
🟣Bitumen World: 118km
🟣Fossil: 111km
🟣Tensor: 76km
🟣Exodus: 74km
🟣Masimba Construction: 74km.
🟣DoR (Demo): 7.2km
Total: 460km
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President
@CyrilRamaphosa
receiving President
@EDMnangagwa
at the Beitbridge Border Port of Entry in Musina.
The Heads of State will hold official talks ahead of a guided tour of the Beitbridge border.
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ZiG 1 to 5 will now be minted in coins instead of the previously announced notes.
#ZiG
#Numismatics
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Kuvimba Mining House CEO is set to join Mutapa Investment Fund.
Kuvimba Mining House CEO, Simba Chinyemba, is moving on to new horizons.
He's set to join Mutapa Investment Fund as Chief Investment Officer, bringing his expertise to state-owned enterprises.
#Mining
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Chirundu border now open 24 hours
Chirundu One-Stop border post now operates 24 hours a day as Zim & Zambia seek to enhance intra-Africa trade & respond to the surge in volumes of feeder traffic from Beitbridge and Forbes border posts as well as the traffic from each country
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President Mnangagwa’s tomorrow Diary in Harare.
🔘0845hrs-Commissioning of the Khaya Cement Vertical Mill (VCM) Plant in Msasa.
🔘1300hrs -Commissioning of the Delta:
(a) Sparkling Beverages plant, Granite side
(b) Brewery, Southerton
(c) Lagers Manufacturing plant, Southerton
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Mthuli Ncube, African Finance Minister of the year.
Finance Minister Professor Mthuli Ncube received recognition at the Global Reputation Forum in London, named African Finance Minister of the Year.
The award acknowledged Zimbabwe's economic growth despite the challenges of
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The new Hwange Units 7 and 8's output reached their maximum levels yesterday.
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President Mnangagwa back at SABI STAR LITHIUM Mine for ribbon cutting.
✳️Event: Official Commissioning of Sabi Star Mine Flotation Plant.
✳️Date: 31 Aug 2023.
✳️Location: Buhera, Manicaland Province
President Dr. E D. Mnangagwa also led the Ground Breaking Ceremony of the
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Zimbabwe maintains improved power generation.
🟣Hwange: 959mw
🟣Kariba: 486mw
🟣IPPs: 55mw
TOTAL: 1500MW
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Caledonia Mining no longer selling gold to RBZ's Fidelity.
THREAD
@CaledoniaMining
has started the direct sale of gold produced from the Blanket Mine to a refiner outside Zimbabwe.
@KMutisi
@kmugova
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Zim in 43% increase in tobacco volume sales.
🔘Zim records a 43% increase in volume sales from 206 402 030 to 295 660 862 kgs by Day 110 at both the auction & contract floors.
🔘The value has increased by 42% from US$631 881 223 to US$895 561 317 over the same time period.
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INVICTUS Energy to complete oil, and gas exploration drilling in 50-60 days
INVICTUS Energy, which is searching for oil and gas in Muzarabani, says it is on track to meet its target.
“Mukuyu-2 is on track to complete drilling and evaluation within an estimated 50-60 days.
Since
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Zimbabwe imports and Exports at glance.
🔘Exports from Zimbabwe rose to US$7.2 billion in 2023.
🔘Imports amounted to US$9.2 billion, exceeding exports.
🔘The UAE became Zimbabwe's third-largest export market, accounting for 22.5% of exports.
🔘China and South Africa
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President declares national disaster,…US$2 billion required.
🔵President Mnangagwa declares
2023/2024 summer cropping season national disaster
🔵El Nino-induced drought cited as cause.
🔵2.7 million people expected to be food insecure.
🔵Government to ensure vulnerable
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Hwange Unit 7 passes tests, back on grid Monday
Hwange Thermal Power Station Unit 7, which was recently taken off the national grid for further tests, will be back online on Monday, adding 300MW to the national output, Energy Minister Soda Zhemu has said.
Crdt:
@nqobilebhebhe
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.
@edmnangagwa
will officially open the 113th Zim Agricultural Show in Harare on 1 September 2023 at 9.30a.m.
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President Mnangagwa is set to officially commission the new Muchesu Coal Mine project in Binga today.
This project is being undertaken by a British investor,
@ContangoPlc
.
In June the company reported that: “We are honored that His Excellency Dr. Emmerson Mnangagwa, President
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The exports of Lithium have increased significantly from 2018 up to 2022.
The respective export revenue generated from the export of lithium during these years grew from:
🟣2018: USD 1.8 Million
🟣2022: USD 70 Million.
🟣By September 2023: USD 209 Million.
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Happy 44th independence Zimbabwe‼️
Picture credit; Conical Towers.
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President Mnangagwa is set to commission the Cowdray Park Health Centre on Friday.
The center is the second to be completed in an initiative by the Second Republic to build 30 22-bed clinics and five 60-bed district hospitals across the country over the next three years.
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Harare-Masvingo-Beitbridge Road Upgrading Update.
✅76 % of Hre-Beitbridge Road opened.
✅440km out of 580km opened to the public.
✅140km to go.
✅Bitumen: 118km
✅Fossil: 105km
✅Exodus: 72km
✅Masimba: 70km
✅Tensor: 68km
✅Trial Section: 7.2km
Harare-Masvingo-Beitbridge road construction progress: A total of 420.92km opened to traffic to date.
🟢Bitumen World: 112km
🟢Fossil Contracting: 100km
🟢Masimba Construction: 70.02km
🟢Tensor Systems: 67.5km
🟢Exodus: 64.2km
🟢Trial Section: 7.2km
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Mine to raise US$13m for a 7 MW solar plant.
Golden Valley Mine intends to raise US$13 million through a private placement to build a 7MW solar plant at its gold mine in Kadoma.
The company has already signed an agreement with Okavango GVM Power, a special purpose vehicle (SPV)
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Another mini Hospital was completed.
Mataga Mini Hospital becomes the third hospital under the US$218 million health care sector development.
The other 2 are:
🔘Stoneridge
🔘Cowdray Park
In progress Chimanimani Clinic.
Mataga Mini Hospital will cater for the Mataga and
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Mthuli Ncube Domestic Economy.
🟢With respect to the domestic economy, growth is now projected at 5.3% in 2023.
🟢Already ZIMSTAT already estimates economic growth during the first quarter of 2023 at 6.2% and 6.5% for 2022.
🟢Such growth rates put Zimbabwe among the
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Mnangagwa’s term & mining.
✅108% growth in exports
✅+US$6 new mining investment in 4 years.
Contribution to Gross domestic Product:
✳️2017: 9%
✳️2022: 13%
Export proceeds:
✳️2017: US$ 2.7 b
✳️2022: US$ 5.62 b
Mining industry attracted +US$6 b in new projects in last 4 yrs.
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Namibian President HE
@hagegeingob
, calls for the removal of sanctions on Zimbabwe.
“Selective punitive measures against Zimbabwe and Venezuela must also be lifted as these measures constitute the greatest obstacle to the implementation of the 2030 Agenda for sustainable
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Final House of Assembly Results.
✳️ZANU PF: 136
✳️CCC: 73
TOTAL: 209
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Zim in improved power generation.
At 1 800MW National peak demand, ZPC is generating 62% of peak demand.
🔘Munyati: 16MW
🔘Bulawayo: 0MW
🔘Harare: 12MW
🔘Kariba: 538MW
🔘Hwange: 550MW
TOTAL: 1 116MW
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Bikita Minerals successfully completed the construction of a 12MW Photovoltaic plant.
Bikita Minerals has successfully completed the construction of a 12MW Photovoltaic plant.
The company is also constructing the 120km Tokwe- Bikita powerline to be commissioned in the first
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The government has also increased the number of contractors that will lay the 245-kilometer pipeline from Lake Gwayi-Shangani to Bulawayo to 11, to ensure water is pumped to the city by the end of this year.
Each contractor has been given at least 21km to work on.
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ZEC nears announcement of presidential results.
ZEC invited Presidential candidates and their Chief Elections Agents to witness the collation of Presidential results.
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Zim and SA Presidents to tour Beitbridge Border Post today.
President Mnangagwa is today expected to meet his South African counterpart Mr Cyril Ramaphosa for the launch of the Border Management Authority (BMA), in Musina, Limpopo Province.
The two leaders are also expected to
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PRESIDENTIAL RESULTS - FINAL
Nelson Chamisa: 1 967 343
Emerson Mnangagwa: 2 350 711
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President Mnangagwa will commission Units 7 & 8 at Hwange Power Station, in Hwange on the 3rd of August 2023 at 1030hrs.
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