🇿🇼ZimbabweSouthern Africa
Unifreight to acquire local FedEx Express partner in US$2.08 million deal
via NewsDay Zimbabwe1 min read
Unifreight has entered into a US$2.08 million agreement to acquire the local FedEx Express partner. This business development is part of a series of recent economic and business news from Zimbabwe. Other reports indicate that tobacco exports have surged by 62% due to strong global demand, while March rains in 2026 have improved some crop conditions. Conversely, power outages and raw material shortages have negatively impacted ART operations, with the manufacturer reporting a 6% decline in export volumes and a 26% decline in paper division volumes for the third quarter ending June 2022. Edgars' financial year performance suggests a recovery and strategic shift, with retail operations increasingly complemented by financial services as a significant profit driver. The VFEX shows stability, though underlying value concerns persist.
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The education ministry and the National AIDS Council NAC are increasing efforts to reintegrate teenage mothers into schools. This initiative aims to support young mothers in continuing their education, addressing a critical social and educational challenge.
Zimbabwe's Minister of Health and Child Care, Douglas Mombeshora, announced intensified efforts to ensure that revenue from sugar taxes and other health-related levies is exclusively used to strengthen the country's healthcare system. Authorities are engaging with Treasury, Parliament, and the Presidency to establish mechanisms that will prevent these funds from being diverted to other government expenditures. Mombeshora stated that dedicated funding would address persistent challenges in the health sector, including equipment shortages and resource needs for major health concerns. He highlighted that ring-fenced health taxes could close funding gaps, support cancer treatment, strengthen maternal and neonatal healthcare, and enhance the response to non-communicable diseases. Zimbabwe introduced the sugar tax to promote healthier lifestyles and generate healthcare resources, with part of the proceeds already used to procure cancer treatment equipment. This move aims to provide more predictable and sustainable healthcare financing amidst increasing demand for quality medical services, ensuring long-term health planning and investment.
Must ReadIn late February 2026, Middle East tensions disrupted shipping through the Strait of Hormuz, impacting 20% of global oil trade and causing a significant oil supply shift. Oil production reductions reached 9.1 million barrels per day mb/d by April 2026, with global oil inventories declining by 5.1 mb/d. To stabilize prices, the US released 172 million barrels from its Strategic Petroleum Reserve SPR over 120 days, supplemented by 400 million barrels from International Energy Agency IEA members. By early June, US SPR levels dropped to approximately 357.1 million barrels, their lowest since 1983, while Brent crude prices were projected to rise to US$150-US$160 per barrel. US energy secretary Chris Wright acknowledged in mid-March 2026 that the US was unprepared to secure tanker passage through the Strait of Hormuz. Security risks extended to the Red Sea and Bab el-Mandeb Strait by March 28, with JPMorgan estimating a full closure of Bab el-Mandeb could add US$20 per barrel to oil prices. Despite declining SPR and domestic refined product inventories, US crude exports surged over 30% in April to 5.2 mb/d. In contrast, China and Russia have strengthened their energy resilience through practical cooperation, including the Power of Siberia pipelines and long-term oil and gas contracts, with China promoting RMB settlement for diversified trade. For Africa and the Global South, key lessons include the necessity of strategic reserves for long-term security, supply diversification, and
Harare's announcement of plans to acquire 200 buses has raised concerns about potential procurement graft. This development comes amidst other significant news in Zimbabwe, including the country's efforts to end AIDS by 2030, proposed new grain levies to address climate and food security risks, and a deepening referendum row as CAB 3 heads to Parliament. Other headlines highlight the arrest of a Bikita RDC finance boss over alleged abuse of office, political tensions leading to violent attacks at grasslands plots, and a warning from a watchdog about a legal fog clouding Zimbabwe’s new minerals policy. Additionally, 300,000 Zimbabwean farmers are set to benefit from chilli production, and the VFEX stability is noted to mask underlying value. The country is also facing delays in unlocking green billions due to carbon cash issues.