Zimbabwe faces US$30 million funding gap in hospitality sector ahead of IATF 2029
via NewsDay Zimbabwe1 min read
Zimbabwe's hospitality sector is grappling with a funding deficit of up to US$30 million in anticipation of IATF 2029. Other news includes Ndodana Tshuma appearing on two charges with a case postponement to July 22, and the Constitutional Court reserving judgment in a challenge to Majome鈥檚 reassignment. The ZMX has seen rising confidence with trades reaching US$1.28 million, while SecZim reported a strong first-half surplus amidst capital markets reforms. ART operations have been impacted by power outages and raw material shortages, leading to a 6% decline in export volumes and a 26% decline in paper division volumes for the third quarter ending June 2022. Zimbabwe has also commissioned a specialized honey testing laboratory to enhance export competitiveness.
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Must ReadZimbabwean President Emmerson Mnangagwa, 83, recently enacted a law that extends his presidential term by two years and removes citizens' right to directly vote for the president, transferring this power to Parliament. This move has significantly altered Zimbabwe's political landscape, drawing parallels to the more than 30-year rule of former President Robert Mugabe. The article highlights this development as a critical warning for South Africa, which is approaching its local elections on November 4. It emphasizes that while Zimbabweans are losing their direct voting rights, South Africans still possess this power but often neglect it. The author argues that voting is a fundamental privilege that can be eroded through apathy, and that citizens' disengagement contributes to the decline of democracy. The piece concludes by stating that democracy requires active citizens, not just honest leaders, and that the situation in Zimbabwe underscores the importance of exercising and defending democratic rights before they are lost.
Econet Wireless Zimbabwe, the country's largest mobile network operator, is investing more than US$200 million to expand its network capacity, improve service quality, and strengthen infrastructure resilience. This investment addresses the surging demand for mobile data driven by increased smartphone adoption, video streaming, and digital services. Econet Group chief executive officer Douglas Mboweni stated that the company's immediate priorities include expanding network capacity and making infrastructure more resilient to ensure reliable connectivity. The company operates over 7,000 base stations supporting 2G, 3G, 4G, and 5G technologies and is progressively reallocating spectrum to 4G and 5G services. However, the transition is slowed by older mobile devices, particularly in rural areas, preventing millions of subscribers from accessing modern digital services. Mboweni noted that over three million subscribers use handsets too old for high-bandwidth applications and that Econet is working on initiatives to make new smartphones more affordable. Power supply challenges also contribute to network disruptions, prompting Econet to invest in alternative energy, including a solar power station at its Tech City campus and an artificial intelligence-powered energy management system. The company expects this system to reduce power-related faults by up to 50% by the end of the year, with customers experiencing a more resilient network with fewer outages by December.
Zimbabwean athletes Makanakaishe Charamba, Thandazani Ndlovu, and Ashley Miller achieved impressive results at the Gyulai Istv谩n Memorial鈥揌ungarian Athletics Grand Prix in Budapest. Charamba secured second place in the men鈥檚 200 metres with a time of 20.09 seconds, finishing behind Morocco鈥檚 Yassine Hssine. Ndlovu recorded a personal best of 44.64 seconds, placing fourth in the men鈥檚 400 metres against a competitive international field. Miller finished fifth in the women鈥檚 400 metres hurdles with a time of 55.03 seconds. The National Athletics Association of Zimbabwe NAAZ president, Tendayi Tagara, stated that these performances will boost the team's confidence for the rest of the season, highlighting the progress made through investment in athlete development and high-performance programs. NAAZ emphasized that the results demonstrate Zimbabwean athletes' capability to compete effectively on the international stage.