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ZIMBABWE, banking on mining to end two decades of economic stagnation, plans to list Kuvimba, the company in which it has placed state mining assets, to raise cash to meet government obligations. Late last year, the government created Kuvimba Mining House, in which the State pension fund and sovereign wealth fund hold 65% shareholding, to house its holdings in platinum, gold and nickel. “In the next two years, it will be a highly profitable group,” Finance minister Mthuli Ncube said in an interview. “When we eventually list, government will offload some of its shareholding.” The creation of Kuvimba is the latest attempt by the government to kickstart its mining industry. While companies were deterred by local ownership requirements and a frequently changing currency regime, investors from Russia, Cyprus and Nigeria are now exploring having platinum mines in Zimbabwe, which has the world’s third-biggest reserves of the metal. In addition to partnering Russian investors in a platinum venture, Kuvimba plans to rehabilitate aging mines and develop new ones. The company will likely be listed on the dollar-denominated stock exchange that was established in the resort town of Victoria Falls last year, Ncube said. The rest of the company is owned by a consortium headed by David Brown, the former chief executive officer of South Africa’s Impala Platinum Holdings, he said, without giving details about the arrangement. “We are looking for international skills, skills with a track record and he has a track record,” Ncube said. Money from Kuvimba will be used to back entrepreneurs, compensate people who lost the value of their bank deposits when the local currency crashed, bolster funding for veterans of the 1970s liberation war and provide seed capital for a new government workers’ pension fund, he said. It will also be used to compensate white former farmers. Zimbabwe’s initial refusal to compensate white farmers soured Zimbabwe’s relations with multilateral lenders and the West. Now the country plans to appoint advisers to help it raise the US$3,5 billion it has agreed to pay. “With Kuvimba, the government has put something on the table, it has skin in the game,” Ncube said. “Everything now hinges on concluding the appointment of the adviser and then the work of fund raising will begin in earnest.”— Bloomberg
South Africa is one of the hardest-hit countries in Africa with over 740,000 infections.
The country recorded 60 more virus-related deaths on Wednesday, bringing the death toll to 20,011.
What You Need To Know: In another reversal, the Centers for Disease Control and Prevention has changed its guidance on who should be tested for the coronavirus, encouraging asymptomatic people who have come in contact with an infected person to get tested and self-quarantine for 14 days. Last month, guidance said those who did […]
As of Sunday 9 August, South Africa has 559 858 confirmed COVID-19 cases.
Proteas T20 and ODI captain Quinton de Kock confirmed he's agreed to be Test skipper as a short-term measure only.
By Hazel Trice Edney (TriceEdneyWire.com) - Black and Latino communities throughout the United States have disproportionately suffered the most devastating impacts of the coronavirus, including a higher rate in deaths, underscoring inequities in the nation’s health care system and the broader society. In New York state, for example, African-Americans make up 14 percent of the population, […]
The post Health Insurers Must Answer for COVID-Related Disparities Devastating Black and Latino Communities appeared first on Milwaukee Community Journal.
AS the number of novel coronavirus cases across the island continues on an upward trajectory, one major hospital is reporting that it has reached maximum bed capacity for patients and is now moving to make arrangements to create additional space.
According to the Gauteng Education Department, nearly 1 000 matric markers pulled out for various reasons - reasons we can relate to.
SACRAMENTO - Sacramento County officials have found themselves in defense mode after it appears theyhave used the bulk of the federal money they have received to respond to the coronavirus pandemic for Corrections expenses. The Sacramento OBSERVER has obtained documents that point to County officials spending more than 90 percent of its to-date allocations from […]
WASHINGTON, DC, United States (AFP) - The US State Department rescinded an award for a Finnish journalist who reported on Russian disinformation after spotting her social media postings critical of President Donald Trump, an internal review said yesterday.
By HILLEL ITALIE AP National Writer NEW YORK (AP) — With Election Day approaching and the pandemic ongoing, Oprah Winfrey is setting aside her usual book club recommendations and instead citing seven personal favorites, ranging from James Baldwin's landmark essays in 'The Fire Next Time' to Mary Oliver's poetry collection 'Devotions.' Winfrey is calling her choices 'The Books That Help Me Through,' works she values for 'their ability to comfort, inspire, and enlighten.' 'It's a mix of fiction, poetry, non-fiction and spirituality, books I know and trust and revisit time and again,' she said in a statement Monday. Her new […]
The post `The books that help her through': Winfrey suggests seven appeared first on Black News Channel.
Nigeria has suspended a controversial electricity tariff hike that has stoked tensions in the country as part of a deal to ward off a general strike by unions.
Hours after an angry mob of Trump supporters took control of the U.S. Capitol in a violent insurrection, Selena Gomez... View Article
The post Selena Gomez: Big Tech ‘cashing in from evil’ appeared first on TheGrio.
Cash is being swiped from the financial institution accounts of unemployed Californians — at a time they want it most. 1000’s extra might be in danger, and it might be…
ST JOHN’S, Antigua — Cricket West Indies (CWI) will, this week, send a two-member inspection team to Bangladesh to conduct a detailed assessment ahead of the scheduled ICC Future Tours Programme (FTP) tour in January next year.
The article Mansingh, Slowe to lead CWI inspection team to Bangladesh appeared first on Stabroek News.
Mwea Ngurubani County, Kenya — Whether volunteering at local high schools in her community, educating boys about the importance of speaking out and building self-confidence or taking a summer course at Oklahoma State University in the United States as a 2019 Mandela Washington Fellow – Kenyan social entrepreneur Joyce Kamande is passionate about supporting farmers and young people in rural areas.
The vision of Safi Organics is to be the leading converters of farm waste to high-quality carbon-negative fertiliser that increases farmers yields.
What they don't know is that they increase their yields from more robust, locally made carbon-negative organic fertiliser produced by farm waste from companies such as Safi Organics.
In Kenya and other African countries, unreliable and sometimes nonexistent agricultural extension services lead to poor farming practices, which can result in turn to low yields for smallholder farmers in many parts of Africa.
We applied for the grant as Safi Organics to offer capacity building to the youth on sustainable farming and launching demonstration farms for our farmers.
By Ashley MossStaff Writer There’s no shortage of COVID-19 tests in Dallas now, just folks willing to take them. “We have capacity to do (least) 2500 tests per day,” said …
