Old Mutual has re-entered Zimbabwe's capital markets by listing on the Victoria Falls Stock Exchange VFEX following a six-year suspension.
This move is part of a broader set of economic activities in Zimbabwe, which includes the Zimbabwe Mercantile Exchange ZMX seeing increased confidence with trades reaching US$1.28 million. Other business news indicates that ART operations have been affected by power outages and raw material shortages, leading to a decline in export and paper division volumes by 6% and 26% respectively in the third quarter to June 2022. Additionally, US-based BlackRock has increased its interest in Caledonia Mining, notifying the company of crossing a reporting threshold.
This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
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Bulawayo Deputy Mayor Edwin Ndlovu and two other councillors were remanded in custody until Monday for a bail ruling. They appeared in court charged with attempting to extort US$52,000 from a businessman in connection with a hotel development project. Ndlovu was arrested on August 22 while allegedly counting US$5,000 in trap money.
Chiragwi has commended the reopening of the National Sports Stadium, with CAPS United reportedly looking forward to a homecoming event. This development comes amidst other news, including a court case involving Mnangagwa鈥檚 daughter-in-law regarding property acquisition, the Minerva Zimbabwe Open chess title won by Kukudzarema, and the remand of Bulawayo's deputy mayor and councillors in an extortion case. Additionally, Nevsun Select is preparing for a tournament in Arusha, and Parliament is conducting nationwide hearings for a whistleblower Bill.
The daughter-in-law of Mnangagwa appeared in court to address how she accumulated a significant property empire. She stated that her husband is able to afford it.