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  • High Court Fines Chinese Cement Firm for Contempt of Court

    By Staff Reporter

    Zimbabwe’s High Court has fined Labenmon Investments, a Chinese-owned cement manufacturer, US$3 000 for contempt of court after it continued operating in Hurungwe despite a binding order to halt works.

    On 30 September 2025, Justice Philda Muzofa found Labenmon Investments and its Operations Director, Daniel Mlalazi, guilty of defying a provisional order she had issued on 4 February 2025. The earlier order stopped all commencement works at Wih-Zim Construction Material Investments Cement Manufacturing Plant in Magunje, Hurungwe District, pending investigations by the Environmental Management Agency (EMA) into alleged breaches of the company’s Environmental Impact Assessment (EIA) certificate.

    The ruling came after villagers from Chasara and Kapere, represented by Zimbabwe Lawyers for Human Rights (ZLHR), filed a contempt of court application on 26 February 2025. The villagers argued that the cement maker had wilfully disregarded the stop-work order and pressed ahead with operations that encroached on their farming and grazing land.

    Justice Muzofa ordered Labenmon Investments to pay a US$3 000 fine within a month and directed the firm to immediately cease operations until the main matter is concluded. Mlalazi was handed a 30-day jail term, wholly suspended on condition that he ensures full compliance with the court order.

    In a statement, ZLHR welcomed the judgment, describing it as “a clear affirmation of the rule of law.” The human rights lawyers said: “This ruling demonstrates that communities are not powerless when corporations act outside the law. It reaffirms that the courts remain a vital safeguard for protecting citizens from unlawful corporate conduct.”

    ZLHR further noted that the ruling underscored the principle of accountability. “What this judgment makes clear is that court orders are binding, and no company, regardless of its ownership or financial standing, can place itself above the law,” the organisation said.

    The human rights group also commended the villagers for pursuing the matter despite intimidation and pressure. “The resilience shown by the affected communities is commendable. Their determination to defend their land and environment is an important example of civic courage,” ZLHR added.

    Separately, EMA also fined Labenmon Investments US$5 000 after inspectors found the company had failed to comply with conditions set out in its EIA certificate. An inspection report compiled in July revealed that the cement manufacturer had violated key environmental provisions under certificate numbers L10000034346 and L10000099080.

  • Bryden School Demands EMA Action Over Chinese Cement Factory Dispute

    By Staff Reporter

    Bryden School’s Board of Governors says it is still waiting for clarity from the Environmental Management Agency (EMA) following the school’s resistance to a Chinese cement manufacturing company’s planned operations near its premises.

    Last month, the school launched a legal battle against the construction of a lime and cement factory just 500 metres from its boundary. The school argued that the project would expose learners to serious health and environmental risks.

    Despite a High Court order on March 25 directing Shuntai Investments to suspend all activities, the company has reportedly pressed ahead, releasing toxic dust, noxious fumes, loud blasting, and heavy machinery noise into the community.

    In a circular to parents, Bryden’s Board of Governors noted that Shuntai’s Environmental and Social Impact Assessment (ESIA) was approved by EMA despite overlooking key zoning and health concerns in an area designated for education. The school has since sued EMA, while a judge inspected the site and later ruled that Shuntai was in contempt of court.

    In its latest circular, the board expressed frustration at EMA’s silence.

    “We therefore continue at the mercy of the Minister of the Environment, Climate and Wildlife, Honorable Dr. Evelyn Ndlovu, to hear our application in the Administrative Court. Our submission to this Honorable Court was on 28 May 2025,” the school said.

    “Further, we have not received any written response from the Provincial Director of EMA since our meeting in February 2025. The silence from this Ministry on this most important environmental issue is deafening.”

    The matter has since been raised in Parliament, while Chegutu Municipality has acknowledged in its Masterplan that Bryden and nearby institutions are reserved for education, not industrial activity.

    Bryden also acknowledged government officials for stepping in.

    “Firstly, the Bryden Board, parents and staff would like to thank Joint Operations Command Mashonaland West for visiting the school and the Shuntai cement factory site on a fact-finding mission on 11 September 2025.

    “We thank them for taking their time and being thorough and diligent in this regard. The delegation noted that the distances provided by Shuntai Investments and EMA are highly questionable. They also queried the continuation of work at the Shuntai site in disregard of the High Court order issued on 25 March 2025.

    “We also thank the Chegutu Municipality for attending the meeting and providing the official Masterplan map. This confirmed that Bryden and three other learning institutions are in the education zone, and that both schools and planned low-density housing would be negatively affected by a cement factory.

    “In addition, we also wish to let you know that the Bryden-Shuntai issue has been raised in Parliament this week. We will release any new developments as they come through,” the School said

  • Remarkable progress recorded on Kunzvi-Harare water pipeline

    CONSTRUCTION of the Kunzvi-Harare pipeline that will convey water from Kunzvi Dam to the capital has begun, marking a significant step towards ending Harare’s crippling water shortages that have persisted for more than two decades.

    The 48-kilometre pipeline will channel raw water from Kunzvi to a treatment plant set to be developed at Donnybrook in eastern Harare.

    Once complete, it will convey up to 240 megalitres of water daily, significantly easing the capital’s deficit, with current daily supplies averaging 400 megalitres, against a demand of about 800 megalitres.

    The pipeline is a central component of the Harare East Water Augmentation Project, which had stalled for years largely due to financial constraints.

    It is being implemented by local contractor Redan Bulk under a US$52 million tender awarded by the Zimbabwe National Water Authority (Zinwa).

    Construction is expected to take two years, aligning with the completion of Kunzvi Dam, which is scheduled to start impounding water during the forthcoming rainy season.

    The mega-project involves the laying of a 1,4-metre glass reinforced polyester (GRP) pipeline and installation of two booster pump stations.

    GRP pipes are lightweight, durable and resistant to corrosion, making them ideal for large-scale water conveyance projects as they reduce maintenance costs and extend the lifespan of infrastructure.

    So far, about 30 workers have been employed, with the number expected to rise to 250 as construction gains momentum.

    On site, the contractor has mobilised a high-tech mechanical trencher capable of excavating between 500 and 700 metres per day depending on soil type, speeding up installation.

    Last week, contractors were laying the first three kilometres of pipeline about seven kilometres from the dam site.

    Zinwa resident engineer for the project Johanne Mwase said the pipeline would not only augment Harare’s water supplies but also bring many benefits.

    “The Kunzvi-Harare pipeline is a raw water pipeline to supply Harare,” he said.

    “It stretches 48km from Kunzvi Dam to Donnybrook Water Treatment Plant, with two booster stations along the way.

    “We will also have offtakes for Juru Growth Point and farmers along the corridor to help create a greenbelt from Kunzvi to Harare.”

    He said once the dam begins impounding water during the coming rainy season, the pipeline is expected to begin conveying water to Harare next year.

    “This will go a long way in alleviating Harare’s perennial water challenges,” he added.

    Eng Mwase expressed confidence that the project was on track for completion by the end of next year, provided the current funding commitment is maintained.

    “We are glad that Redan Bulk, a local company, is proving capable of delivering such a massive infrastructure project. They are using state-of-the-art equipment, including a powerful trencher that has a minimum production capacity of 500 metres a day,” he said.

    “In fact, our other activities are struggling to keep up with the speed of the excavation.”

    Redan Bulk’s projects manager Engineer Lucio Chayeruka underlined the importance of timely funding in keeping the project on track.

    “The timeline for completion is supposed to align with the completion of the dam and the release of Treasury funds, which are directly financing the project.

    “There is no external funding. Our trenches are three metres deep and three metres wide, and this is one of the biggest water conveyance projects currently underway in Zimbabwe,” he said.

    He said the new pipeline and water treatment plant would provide a critical new source of clean water located outside the heavily polluted Manyame catchment area.

    “As the contractor, we are introducing innovative methodologies in project execution,” he said.

    “We operate the only trenching equipment in the country capable of achieving trenching outputs of at least 700 metres per day.

    “In addition, we are deploying modern digital technologies to capture and document utilities installed along the pipeline. Each pipe section is being geo-referenced, with pipe identities and chainages systematically recorded during installation.

    “This approach will provide a reliable digital record for remote referencing of subsurface features after construction, thereby enhancing future operation and maintenance.”

    The Kunzvi Dam project has been on the drawing board for decades as a key solution to Harare’s chronic water shortages.

    Initially conceived in the 1990s, the dam was identified as a strategic alternative water source to ease pressure on Lake Chivero and Lake Manyame, which have traditionally supplied the capital, but are now heavily polluted and increasingly inadequate for the city’s growing population.

    Located in Goromonzi district, about 67 kilometres northeast of Harare, the dam sits on Nyagui River, a tributary of Mazowe River.

    Once complete, it will have a capacity of around 158 million cubic metres of water.

    This storage is expected to support both domestic consumption and irrigation along the Harare-Goromonzi corridor, creating opportunities for agriculture and rural development.

    Construction of the dam officially commenced in 2021, and the project has made steady progress, with dam wall construction nearing completion.—Sunday Mail

  • Hwange Colliery invests US$60m in underground mine

    Hwange Colliery Company Limited has invested about US$60 million into its underground coal mining project, which is expected to drive the company’s turnaround strategy.

    The investment is part of the joint venture between HCCL and Zhongjin Investments and is designed to unlock the underground potential of Zimbabwe’s oldest colliery operation.

    The project will also support the resuscitation of HCCL’s coke oven battery, which will produce 18 000 tonnes of coke per annum.

    The colliery company, which was placed under administration more than two years ago, is on a growth trajectory, riding on an efficient Business Improvement Plan adopted by the new management.

    Financial and operational challenges left the company on the brink of collapse before the Government took a strategic decision to put it into administration.

    In a record two years, the company has been successfully turned around, producing over four million tonnes of coal annually.

    HCCL is key to Zimbabwe’s economy as a major coal producer crucial for national energy security and industrial development, supplying the Hwange Power Station, the country’s biggest main power producer.

    It also provides coking coal for other key industrial operations, including an emerging steel making giant Manhize, while it creates numerous jobs and drives economic activity around Hwange and produces products for the export markets.

    Engineer Akim Mutiti, the company’s underground mining consultant, speaking during a tour of the mine by Mines and Mining Development Minister Winston Chitando, said to date, two shafts had been drilled, each a kilometer deep, at an inclination of 12 degrees.

    “Coal is intersected at one kilometre from here and at that point, the coal is 240 meters below the surface. At the bottom of the shafts, there are development tunnels. We have developed almost a kilometre from the bottom of the shaft and we are continuing development until we get to almost 6 kilometres,” he said.

    Eng Mutiti said as the underground mine project progressed, the company was already in production, churning out 600 000 tonnes per annum.

    “But next year, we will increase to 2,5 million tonnes and the following year, it will be 3 million tonnes of coal per annum,” he said.

    Eng Mutiti added that next year, the company will introduce high-tech mining equipment that will produce approximately 210 000 tonnes per annum from one mining area.

    “The good thing about this mining method is that the extraction is very good at around 90 percent of extraction and we will also be mining the whole 10-metre seam that we have in Hwange and we will be separating coking coal and coal right from source.

    “We will be having two conveyor belts coming from the mine, bringing the coal out to the surface. From there, the coal will be conveyed by a conveyor belt that is currently under construction to a coal washing plant, where the coal will be washed.

    “After the washing plant, the coal will be delivered to the coke ovens, where the coal will be converted from coal into coke,” he said.

    Eng Mutiti noted that during that process, the coke oven gases produced will be used to fire a power station that the company will be constructing.

    The production capacity of that power station is 120 megawatts. Over and above that, we are also going to build two generating units producing 150 megawatts each.

    The combined production of the power station will be 420 megawatts

    “The project for the coke ovens will take about two to three years from now and for the power plant, about three to five years from now.

    Minister Chitando said the joint venture was put in place to unlock the underground potential for HCCL and will be the biggest underground mine in Zimbabwe.

    “Initially, this is supporting the resuscitation of the Hwange Colliery coke oven battery, which will be producing 18 000 tonnes of coke per annum. The joint venture company between Hwange and the partner is a starting foundation of a staggering 1,8 million tonnes of coke per annum. This is in fulfilment of His Excellency’s vision of growing the economy by 2030,” he said. —Herald

  • Invictus to lead Zim Energies Summit on Gas

    THE Government and Australian investor, Invictus Energy, will partner to lead the session: “Invest in Zimbabwe Energies Closed Door Summit” at the African Energy Week (AEW) slated for September 29 to October 3, 2025, in Cape Town, South Africa.

    The session is expected to provide a strategic opportunity for investors, project developers and global partners to gain direct insight into the country’s energy and mining sectors, according to organisers.

    As one of Africa’s oil and gas frontiers and one of the continent’s biggest mineral producers, Zimbabwe offers significant opportunities for companies across both the natural and mineral resource sectors.

    “Strong political will and an improved business have strengthened the country’s attractiveness for foreign investment, while Zimbabwean President Mnangagwa’s position as chairperson of the Southern African Development Community in 2025 reflects a commitment to working with regional partners to advance economic development”, the African Energy Chamber, the organisers of the conference, said in a statement issued on Friday.

    “The ‘Invest in Zimbabwe Energies Summit’ builds on these efforts, offering a platform for global investors to connect with Zimbabwean projects.

    “Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy.”

    While Zimbabwe’s energy matrix has been dominated by hydropower, forays into natural gas exploration show the promise of a diversified energy portfolio.

    The country has emerged as one of Africa’s top frontier gas markets in recent years, with ongoing drilling activities led by Invictus Energy yielding positive results, said the agency.

    It noted how Invictus Energy was advancing the development of the Cabora Bassa Project in northern Zimbabwe — one of the world’s largest untested frontier rift basins — following a string of discoveries made in 2023 and 2024.

    The Government is currently the Petroleum Production Sharing Agreement with Invictus Energy and has recently provided National Project Status to the Cabora Bassa development.

    As an Australian oil and gas company focused on the Cabora Bassa Project, Invictus Energy is leading Zimbabwe’s gas agenda having secured the green light in 2025 to begin pilot production activities in the country, including supplying gas to the Eureka Gold Mine.

    This not only underscores the potential for gas utilisation in the country but reflects opportunities for cross-sector development, said the agency.

    Looking ahead, Invictus Energy is preparing to drill its next exploration well at the Musuma-1 site in H2, 2025, backed by an agreement signed with Al Mansour Holdings (AMH).

    Beyond natural gas, Zimbabwe continues to cement its position as an emerging energy producer, with projects in coal production, renewable energy development and power infrastructure set to enhance energy access and security.

    Meanwhile, Zimbabwe is consolidating its position as a leading mineral producer, with the anticipated restructuring of the Mines and Minerals Amendment Bill supporting mining activities. As one of Africa’s largest lithium producer, the country has already begun to play a central role in global supply chains and is poised to be a driver for Africa’s energy transition.

    Zimbabwe is also emerging as a front-runner in gold and platinum group metal production. Striving to reach 40 tons in gold production in 2025, the country is inviting investments across the gold value chain.

    The Invest in Zimbabwe Energies Summit is expected to serve as a vehicle for this investment.

    “Zimbabwe is positioning itself as one of Africa’s most exciting frontiers for both energy and mining investment. The country’s emerging natural gas potential, combined with its vast mineral wealth, creates opportunities that few markets can rival.

    “Strong political will, regulatory reform and a commitment to regional integration make Zimbabwe an attractive destination for capital. Investors who move now will be well-placed to benefit from the country’s transformation into a diversified energy and mining powerhouse,” says NJ Ayuk, executive chairman, African Energy Chamber.—Herald

  • PPC Zimbabwe sees 22% boost in sales owing to cement tariff

    CEMENT manufacturer, PPC Zimbabwe Limited’s (PPCZL) cement sales volumes increased by 22% in the four months ended July 31, 2025, benefiting from stronger consumer demand and tariffs on imported cement imposed in May this year.

    In May 2025, the Zimbabwean government introduced a 30% surtax on imported cement, as outlined in Statutory Instrument 50A of 2025, following intense lobbying from local manufacturers of the building material.

    The measure faced pushback from importers, some of whom challenged its legality in the High Court, arguing that it violated Common Market for Eastern and Southern Africa regulations and was disrupting business operations.

    However, in a trading update for the four months ended July 31, 2025, PPCZL’s South African parent firm, PPC Limited (PPC), revealed its local unit was already seeing some gains from the legislation.

    “Cement sales volumes in Zimbabwe increased by 22% in the current period compared to the comparable period, largely as a result of a combination of strong consumer demand and the positive impact of the introduction of a 30% tariff on imported cement in May 2025,” PPC said.

    “During the first two months of the current period PPC Zimbabwe implemented an extended shutdown in its Colleen Bawn plant.

    “This was planned, as part of the three-year plant performance improvement plan, aimed at better positioning PPC Zimbabwe to produce higher volumes of own-clinker for the production of cement to supply the growing demand in the market.”

    PPC said the costs of the extended shutdown, combined with the higher consumption of imported clinker, impacted earnings before interest, taxes, depreciation, and amortisation (EBITDA) and the EBITDA margin in the first three months of the current period.

    “PPC Zimbabwe’s EBITDA margin reduced to 15,3% from 29% in the comparable period. After the extended shutdown, the monthly EBITDA margin returned to the level achieved in the comparable period,” PPC said.

    The group, however, noted that cash generation remained strong, notwithstanding the lower EBITDA margins.

    “Dividends of US$6 million were declared in the current period (comparable period: Nil),” PPC said.

    “Dividends totalling US$14 million have also been declared subsequent to the current period resulting in total dividends declared for H1FY26 of US$20 million (comparable period: US$4 million).”

    In an update on the sale of the Arlington property for US$30 million last month, PPC revealed the deal remains on track, but has not been accounted for in the current period.

    PPCZL’s balance sheet will see an immediate uplift from the sale, with proceeds set to unlock significant value for PPC.

    “Group revenue for the current period increased by 4%, driven by growth in both SA and Botswana cement and Zimbabwe,” PPC said.

    “Group EBITDA continued to increase over the comparable period, and the EBITDA margin reached 15,9% in the current period, which is a growth in excess of 2PP in comparison with the 13,7% of the comparable period.

    “As margins increase considerably in Zimbabwe and reduce marginally in South Africa over August and September, group EBITDA margins are expected to continue to increase from the current period level.”—NewsDay

  • Zimbabwe to create own rating, certification tool for green buildings

    The Green Building Council of Zimbabwe (GBCZ) is in the process of creating a rating and building certification tool with a homegrown touch that will define green buildings in the country.

    The tool will play a critical role in providing a framework and process for assessing and certifying buildings based on their environmental, social, and economic performance in the face of climate change.

    Speaking at the recent 2025 Zimbabwe Climate Change Sustainability Week and Green Business Expo in Bulawayo, GBCZ chairperson, Dr Mike Juru, said buildings account for 40 percent of carbon emissions.

    “Buildings are an important factor in people’s lives and yet they account for 40 percent of carbon emissions, which are a contributor to climate change. UN Habitat did their research and opined that by the year 2050, 75 percent of the buildings that will be there are not yet built.

    “The buildings we currently have only constitute 25 percent of the buildings that will be there by 2050. To support that statement, the population of Zimbabwe is currently at 16 million and the population median is 19, which means in 25 years’ time, 8 million of the population will be in the housing market looking for their own accommodation,” he said.

    “As the GBCZ, we are working on our own rating and building certification tool, something that is homegrown. Certainly, the climate in Australia is not the same as in Zimbabwe. So, we are working to have our own rating and certification tool that will be used to define green buildings in Zimbabwe.”

    He said a lot of construction was ongoing and would continue to happen out of need and necessity for human survival, while they were promoting buildings that by design, construction and operation minimise their impact on the environment.

    Dr Juru, a real estate practitioner with over 25 years of experience and chief executive officer (CEO) of Integrated Properties, an ISO-certified real estate firm, emphasised the need for buildings to reduce emissions to deal head-on with issues of climate change.

    “Green buildings offer energy and resource efficiency which is what is required to reduce the emissions. They are also key to water conservation, as you may have heard that the next world wars will be about fresh water supply.

    “We are fast running out of fresh water and for as long as we do not build green buildings, it means we will continue wasting water and we will perish as human kind,” he added.

    “Green buildings reduce the waste that comes out of buildings because waste fills up the landfills and takes up valuable space that we could use for agriculture. We need to embrace green building standards to address climate change.”

    He said they were also working with the Parliament of Zimbabwe to push for legislation to promote and encourage green building standards to be enacted in Zimbabwe.

    Dr Juru said this would help the country to address climate change and ensure they have a great story to tell their grandchildren in 2050—that they created a country that is sustainable for them.

    He said: “The GBCZ is part of the World Green Building Council, which has member councils in over 70 countries worldwide. We are about awareness and training, as well as the certification of buildings. How do we certify that the buildings are green? There is a process that has to be followed.”

    Dr Juru said not all buildings would be green, but they had to be designed to meet the criteria, and they were developing the standards, while the certification of buildings was most important.

    He said armed with the right certification it would mean Zimbabwe’s green buildings would address climate change and would have standards that could be followed.

    “Green buildings will create a sustainable built environment, which is needed to address climate change. They will create a green economy, which cannot be achieved if we do not have green building standards to create green jobs.”

    As Zimbabwe this year in May became the first country to launch a national carbon registry, Dr Juru said carbon credits could only come when there was a green building rating tool that would ensure buildings were certified sustainable in their operations.

    The Zimbabwe Carbon Registry (ZCR) is a secure, transparent system for recording and tracking carbon credits, while it marks a major step toward operationalising Article 6 of the Paris Agreement, which enables countries to cooperate on cutting emissions through international carbon markets and non-market mechanisms.—Zimpapers Business Hub

  • Major works for Mutare roads

    CITY of Mutare is set to carry out major works on Railway Street and Bridge Road, resulting in temporary closure of the two roads.

    Railway Street is the immediate right turn after the flyover before getting into town, while Bridge Road branches from Railway Street to connect with Park Road.

    In a notice to the public today, the local authority said the works are planned to commence today (Tuesday) and run until October 10.

    “Notice is hereby given that there will be a temporary road closure of Railway Street and Bridge Road to execute major road works. The road works are planned to commence on September 23 and run until October 10,” reads the notice.

    Mutare City Council directed all road users to use alternative routes until completion of the works.—Manica Post

  • ZITF introduces virtual marketplace for Mine Entra 2025

    The Zimbabwe International Trade Fair (ZITF) Company has announced the introduction of a Virtual Marketplace, marking a new era of digital engagement for the upcoming Mine Entra 2025 exhibitions.

    Identified as a cutting-edge digital platform, the initiative is designed to elevate the exhibition experience for all Mine Entra participants. ZITF said this innovative platform is set to transform how exhibitors connect, engage, and do business by offering a dynamic online environment that complements the physical exhibition.

     

    “We are excited to introduce this digital extension of Mine Entra 2025,” said ZITF marketing and communications manager, Mr Thandolwenkosi Nkomo. “The Virtual Marketplace is more than just a platform — it’s a strategic tool that enables our exhibitors to maximise visibility, generate leads, and build lasting business relationships.”

     

    The Virtual Marketplace empowers exhibitors to engage with a broader audience of visitors, potential buyers, and fellow exhibitors aligned with their business interests. It also allows them to host one-on-one virtual meetings for in-depth product demonstrations and meaningful conversations. The platform will also showcase digital resources and product offerings to a global online audience, extending their reach beyond the exhibition halls.

    With the growing online presence of different companies, the introduction of the Virtual Marketplace will enhance connections between companies along the mining value chain. ZITF said that the Virtual Marketplace allows exhibitors to update their company profile with logos, product details, and contact information, set availability calendars for virtual meetings, and list products and services for online browsing and ordering. It also allows companies to upload digital downloads such as brochures and catalogues for easy access by visitors.

    “We are inviting all exhibitors to complete their profiles and explore the platform’s features to fully leverage its potential, and the ZITF technical team is readily available to assist,” added Mr Nkomo.

    In today’s digital age, the marketing landscape has undergone a significant transformation. The proliferation of technology and the omnipresence of the internet have fundamentally altered the way businesses reach and engage with their target audience. Experts have said that as consumers spend more time online, impactful marketing in the digital age requires businesses to adapt to the changing landscape and leverage various tools and strategies, with the introduction of the Virtual Marketplace being one of the ZITF’s initiatives to enhance the use of digital marketing in the mining value chain.

    Organised by the ZITF Company in partnership with the Ministry of Mines and Mining Development, the Chamber of Mines Zimbabwe, and the Zimbabwe School of Mines, Mine Entra has provided players in the mining sector with a networking platform, which links suppliers, policymakers, potential investors, and other key stakeholders together.

    Meanwhile, registration for the Mine Entra 2025 edition, which will be held from 8 to 10 October under the theme: “Beyond Extraction: Sustaining the Future of Mining,” has begun. A recent update from ZITF reveals that more than 173 exhibitors have already confirmed their participation, representing the width and breadth of the mining, engineering, transport, construction, and related value chains.—Chronicle

     

     

  • Treasury Unveils Highway Funding Strategy

    TREASURY Secretary George Guvamatanga laid bare the financial challenges plaguing Zimbabwe’s major highway projects while introducing a novel funding strategy to ease the burden.

    Guvamatanga detailed the costs and debts tied to the Harare–Beitbridge and Plumtree–Mutare highways, emphasising the need for innovative solutions to sustain infrastructure development.

    The Harare–Beitbridge Highway, crucial for regional trade, has consumed US$600 million of its US$800 million budget, averaging US$1.4 million per kilometre.

    “We’ve made significant progress, but contractors are still owed US$100 million for work already done, which we must address urgently,” Guvamatanga said.

    This outstanding debt underscores the financial strain impacting the project’s timeline.

    The Plumtree–Mutare Highway, initially funded in 2011 with a US$206 million loan from the Development Bank of Southern Africa, faced setbacks after Zimbabwe’s default.

    “Penalties ballooned the debt to US$350 million, but through restructuring, we’ve reduced it to about US$30 million,” Guvamatanga said.

    Clearing this balance is critical to restoring Zimbabwe’s fiscal credibility.

    Looking ahead, the government plans to adopt “asset recycling,” a model championed by Africa50, the African Development Bank’s infrastructure arm.

    This strategy involves constructing infrastructure and leasing it to private operators to raise capital for new projects.

    “Asset recycling is a game-changer. It allows us to fund development sustainably without overstraining public finances,” Guvamatanga said.—Hurumende