Zimbabwe Economic News: Zim tourist Arrivals Up By 17pct, Zim Partners India In Mining Venture, Lafarge to Ramp up Cement Production
Zim Tourist Arrivals up 17 Percent
Zimbabwe has registered a 17% increase in tourist arrivals to 404 282 in the first quarter of 2013, according to figures released by the Zimbabwe Tourism Authority.
The country's overseas arrivals stood at 14% with Europe contributing 54% followed by Asia at 20%. ZTA said the ever increasing regional trade and commerce also contribute immensely to the growth through indirect transiting tourists as shown by the current 40% increase in business tourists and 65% increase in shopping tourists - Daily News, Tuesday June 11
Zim, India in mining joint venture
Zimbabwe has partnered India to form a mining joint venture. The venture, planning to develop 4 mining reserves in Zimbabwe, targets chrome, gold, iron and diamonds.
Last week, India's State owned NMDZ Limited signed a memorandum of understanding with Mosi oa tunya Development Company, a special purpose vehicle under the administrative control of Walter Mzembi's Tourism ministry - Daily News, Tuesday June 11
Lafarge to ramp up production
Lafarge Cement Zimbabwe says it plans to double output to 1 mln tonnes per year within the next decade. The cement maker currently has an installed capacity of 450 000 tonnes per annum - Daily News, Tuesday June 11
AfrAsia Bank upbeat about Zim
Mauritius based AfrAsia Bank Limited says it remains upbeat about its investment in Zimbabwe despite the country's fragile economy and political uncertainty, ABL's chief executive James Benoit last week said investing in Zimbabwe is probably no worse than Europe, currently facing an acute financial crisis - Daily News, Tuesday June 11