Zimbabwe Economic News: Sol Air, British Airways, PPC, ZABG, Old Mutual, KFC, Hydro Electric Power
Sol Air has been granted an operating certificate by the Civil Aviation Authority of Zimbabwe to service domestic and international routes.
The certificate is with effect from January 28 – Daily News, Thursday 2.
British Airways return to Zimbabwe?
Government says discussions to bring in more international airlines such as British Airways are under way, as the open skies policy takes root, brightening prospects for improved tourism traffic and increased business activity.
Speaking on the sidelines of the Emirates Airways launch at the Harare International Airport last week, Transport, Communication and infrastructure Development Minister Nicholas Goche said a number of high-profile airlines were keen on flying into Zimbabwe –
Sunday Mail.
Cement producer PPC reports improved Zimbabwean performance
PPC has reported improved Zimbabwe sales for the quarter ended December 2011. The South Africa-based cement producer, however, did not indicate the level to which cement sales in Zimbabwe have grown during the period.
In its trading update for the last quarter, PPC said its cement sales in Zimbabwe had continued to grow. PPC, however, said it remains cautiously optimistic regarding the outlook for cement demand in South Africa and Zimbabwe – Herald.
ZABG seeks support
ZABG says it is on the verge of agreeing a deal with an unidentified foreign investor to inject capital into the troubled banking unit, unnamed officials within ZABG have said – Fingaz.
RioZim investment
Old Mutual has been linked to a consortium of local and European investor aiming to inject up to $35 mln into RioZim. Unnamed sources said the deal had been concluded resulting in the announcement by RioZim yesterday. Not may details in this report – Daily News.
KFC to target Zimbabwe
Zimbabwe is among countries that have been targeted by US fast-food giant Yum Brands to open 130 new KFC stores in Africa this year, bringing its presence on the continent to 1 000 restaurants. Yum, the parent of KFC, Taco Bell and Pizza Hut chains, also plans to bring KFC into 7 new African countries this year, general manager for Africa Keith Warren said. – Daily News, Saturday February 4,
Hydro electric power in Masvingo
The Masvingo Rural District Council has approved a $13 million mini-hydro power project at Lake Mutirikwi Great Zimbabwe Hydro-Power Company had applied for the establishment of the mini- hydro power plant.
The company is jointly owned by a Zimbabwean company, ZOL and its South African partner, New Planet. T
he company applied for 5 hectares of land to build a mini-hydro power plant, commencing work in September this year. The mini-hydro power plant is expected to produce 5 megawatts of electricity that will be fed into the national grid upon completion of the project in March 2014.
Masvingo RDC chief executive Clemence Makwarimba last Friday confirmed that the council had approved the application – Herald.
Mhangura Copper to reopen
Mhangura Copper Mine, which closed more than a decade ago, is on the verge of reopening following expression of interest by at least 3 unnamed investors.
The overtures follow feasibility studies on reclaiming the mining dump which has potential output worth over $80 mln following the firming of copper prices on the world market in recent years. Mhangura legislator Douglas Mombeshora said initial studies a few years ago were found to be less attractive to the investors as only $20 mln was set to be realised over a 5-year period – Herald.