🇿🇼ZimbabweSouthern Africa
African Sun delists from Victoria Falls Stock Exchange, transitions to unlisted public company
via NewsDay Zimbabwe5 min read
Hospitality group African Sun Limited has delisted from the Victoria Falls Stock Exchange VFEX and will now operate as an unlisted public company. The company confirmed it met all regulatory conditions for the voluntary termination of its listing, with trading in its shares ceasing on April 9, 2026, and the delisting effective April 20, 2026. This move follows shareholder approval at an extraordinary general meeting in March and a share buyback offer. Repurchased shares will be processed according to the Companies and Other Business Entities Act, with settlements starting after the formal transfer of shares on April 20. For shareholders who did not participate in the buyback, an over-the-counter OTC trading platform will be introduced. This strategic repositioning by African Sun, one of Zimbabwe’s largest hotel groups, is a significant development for the VFEX, a foreign currency-denominated bourse, and its impact on liquidity and investor confidence will be closely observed by analysts and the hospitality sector.
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The Malilangwe Trust is seeking a license to establish a 2-megawatt solar power plant within the Chiredzi conservancy. This initiative aims to provide a sustainable energy source for the conservancy's operations.
The Agricultural and Rural Development Authority ARDA recently hosted members of the Foreign Military Attachés Association at its Antelope Estate for a familiarisation tour of ongoing agricultural projects. The delegation, which included attachés from the United Kingdom, the United States, Zambia, South Africa, Côte d’Ivoire, Ghana, Belarus, Mozambique, and Namibia, praised Zimbabwe's efforts to boost productivity and strengthen national food security. UK Defence Attaché Lieutenant Colonel Alastair Kern commended ARDA's work in strengthening domestic food systems and delivering socio-economic benefits. Zambia’s Defence Attaché Brigadier General Maggie Nakamba described the program as "impactful and worth emulating," expressing interest in replicating similar initiatives. The attachés showed particular interest in Zimbabwe’s wheat production drive, with ARDA targeting 65,000 hectares nationally this season to achieve wheat self-sufficiency. In Matabeleland South Province, 4,000 hectares are allocated for wheat production, with ARDA directly managing 3,100 hectares. ARDA chief executive officer Tinotenda Mhiko stated that planting is progressing well and is on course to meet or exceed the provincial target. Director of operations Washington Katiyo affirmed the authority's commitment to sound agronomic practices for optimal yields. The tour highlights growing international interest in Zimbabwe’s agricultural transformation strategy as the country aims to consolidate food securit
Must ReadThe proposed US$3.6 million payment from businessman Wicknell Chivayo to Zimbabwean parliamentarians, amounting to US$10,000 each, has become a legal issue. Zimbabwean law, specifically the Criminal Law Codification and Reform Act and the Privileges, Immunities and Powers of Parliament Act, prohibits public officers, including Members of Parliament, from accepting gifts or rewards intended to influence their official duties. Section 170 of the Criminal Law Act makes it a criminal offense for a public officer to receive a benefit in exchange for acting in a particular way in relation to their duties, carrying penalties of fines and imprisonment. The Privileges, Immunities and Powers of Parliament Act further states that no member shall accept any fee, compensation, gift, or reward for promoting or opposing any matter submitted to Parliament. The Code of Conduct and Ethics for Members of Parliament reinforces this, requiring MPs to act in the public interest and avoid financial obligations that could influence their decisions, and to disclose significant gifts. Even if framed as "constituency support," the scale and source of the payment would likely trigger scrutiny. The responsibility now falls on the Clerk of Parliament, Kennedy Chokuda, and the Speaker to enforce these laws. Any MP accepting the payment could face criminal prosecution and parliamentary sanctions, with such conduct reportable to the Zimbabwe Anti-Corruption Commission.
Must ReadBusinessman Wicknell Chivayo has caused a political stir by announcing a US$3.6 million "donation" to Zimbabwe's 360 lawmakers for constituency projects, with each legislator offered US$10,000. The money is reportedly to be handed to the Speaker of the National Assembly, Jacob Mudenda, this week. This offer comes as Parliament prepares to debate the Constitutional Amendment No 3 Bill, which includes provisions to extend the terms of the President, Members of Parliament, and councillors from five to seven years, and allows Parliament to elect the President, a move critics say undermines democratic principles. The timing of Chivayo's donation, despite his history of philanthropy, has raised ethical questions regarding potential influence on legislative decisions, particularly concerning constitutional changes. Critics argue that accepting such a donation could compromise parliamentary integrity, weaken the social contract, and create a conflict of interest, especially if lawmakers need to scrutinize Chivayo's business dealings. The article emphasizes that legislators, as trustees of public authority, must prioritize their conscience, constituents' interests, and the Constitution over financial inducements to maintain the independence and moral authority of Parliament.