VICTORIA FALLS, Zimbabwe, June 7 (Xinhua) -- Africa's largest trading bloc
COMESA officially announced the launch of its customs union on Sunday in the
Zimbabwean resort town of Victoria Falls, another key milestone for the bloc's
economic integration.
Backgrounder: Basic facts about COMESA
Backgrounder: Brief introduction about COMESA authority and chief
Backgrounder: Brief introduction about Zimbabwe
HARARE, May 27 (Xinhua) -- A team from the Kimberley Process, an international diamond trade watchdog, is due in Zimbabwe shortly to audit operations of the local industry, officials said on Wednesday.
Zimbabwe's diamond industry has come under international spotlight in recent years, in particular over suspected illegal mining and smuggling of the precious gems at Chiadzwa in Marange, according to local media New Ziana.
There were also suspicions and allegations that security forces deployed in Marange to secure the diamond deposits had killed scores of illegal panners, heightening calls for an international probing into the local industry.
Government critics joined the fray, and tried to prod the Kimberley Process to order a ban on Zimbabwe diamond trade. Officials said it was against this background that the team from the Kimberley Process, drawn from countries such as Canada, Namibia, South Africa and the United States, was visiting Zimbabwe.
But earlier claims of diamond smuggling at River Ranch Mine inBeitbridge were dismissed by another Kimberley Process team in 2007.
The new team, which is expected in Zimbabwe either later this week or next week, was expected to visit all the country's three diamond mines - River Ranch, Murowa and Chiadzwa to inspect their operations.
"We are ready for them. This will put all the speculation to rest," an official, who declined to be named on account of the sensitivity of the issue, was quoted as saying.
Zimbabwean diamond industry has in recent years become a major component of the local mining sector, with experts predicting thatthe precious mineral and platinum will become the top foreign currency earners for the country in the near future.
The Chiadzwa deposits, for example, are the largest concentrated reserves in the world. The reserves remain largely unexploited, and the area around Chiadzwa is still to be fully explored to ascertain the extent of the deposits.
Industry sources said more diamond deposits have been found elsewhere in the country, sparking intense jostling for mining rights among local and international players.
HARARE, Feb. 17 (Xinhua) -- The Zimbabwean government is on the verge of striking a deal with India worth 60 million U.S. dollars to revamp mine mechanization, local media The Chronicle reported on Tuesday.
The chief executive officer of the Zimbabwe Miners' Federation (ZMF) Wellington Takavarasha on Monday said the government is finalizing a deal with India worth 60 million dollars that will enhance mine mechanization, especially for the small-scale miners.
The mining industry contributes immensely toward the economy. However, the mining sector last year was reeling under various challenges with the gold sector in particular constrained by high production costs, power outages and shortage of critical inputs.
Takavarasha was optimistic that the mining sector would be revamped should the deal between India and Zimbabwe go through.
He said the ZMF was working to ensure that miners were fully equipped to ensure effectiveness and high output. Takavarasha said the mining sector would not be affected by the recent decision by the Reserve Bank of Zimbabwe to stop funding quasi-fiscal activities.
In the recently announced national budget and the monetary policy statements, the government and the central bank said the RBZ would be stopping engaging in quasi-fiscal activities as these were fuelling inflation.
The ZMF had approached the RBZ to bankroll the mine mechanization program as it had done with farm mechanization.
A man holds the new Zimbabwe currency specimen, Feb. 2, 2009. Zimbabwe's central bank revalued its dollar again, lopping another 12 zeros off its battered currency to try to tame hyperinflation and avert total economic collapse Tuesday.(Xinhua/AFP Photo)
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The crisishas been worsened by political
stalemate, but the opposition last week agreed to join a coalition government,
raising prospects the economy could be saved from further ruin.
The southern African country is battling the world's
highest inflation rate, officially put at 231 million percent, and acute
shortages of food and foreign exchange.
Reserve Bank of Zimbabwe Governor Gideon Gono
announced the new currency moves on Monday, adding that some foreign exchange
controls will be relaxed and gold producers now can sell bullion directly and
not to the central bank as in the past.
"This Monetary Policy Statement unveils yet another
necessary program of revaluing our local currency, through the removal of 12
zeroes, with immediate effect," Gono said in his MPC statement.
"Yesterday's trillionaires, I am sorry, will not be
able to buy their favourite drink today," said Gono.
"His statement does contain some positive measures
but it does not go far enough. It would appear he is trying to restore the
Zimbabwean dollar, but given the choice of multiple currencies, who would want
to trade in Zimbabwe dollars?" John Robertson, a leading Harare-based economist
said.
(Agencies)
Photo taken on Jan. 16, 2009 shows a specimen of the old Zimbabwe currency of one hundred trillion dollars. Zimbabwe's central bank revalued its dollar again, lopping another 12 zeros off its battered currency to try to tame hyperinflation and avert total economic collapse Tuesday.(Xinhua/AFP Photo)
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HARARE, April 21 (Xinhua) -- Germany has lifted travel warnings against Zimbabwe, becoming the third country to do so in recent weeks after Japan and the United States, New Ziana reported on Tuesday.
Deputy head of the Germany Embassy in Zimbabwe
Hubertus Klink told the local news agency on Tuesday that the decision to remove
the warnings was made last week.
"The decision was reached just before the Easter
holidays," he said. "We had never imposed travel restrictions on Zimbabwe but
advised our citizens to visit the country only for urgent business and not
tourism," he said, adding that the German government has now eased its
disposition on Zimbabwe.
He said German citizens had, despite the warning,
continued to visit Zimbabwe particularly the Victoria Falls.
"Though we advised our nationals to visit just for
urgent business we encouraged them to visit Victoria Falls which we deemed
safe," he said.
Klink admitted some sticking issues remain unsolved,
but said relations between Germany and Zimbabwe are slowly getting back to
normal.
Alleged new farm invasions and the cholera epidemic,
though on the decline, have to be immediately addressed as they produce negative
headlines, he said.
The diplomat stressed negative headlines would not
help in attracting more German tourists into the country, while positive reports
would increase the number of visitors as Germans were avid travelers.
A considerable number of Germans visited the majestic
Victoria Falls every year, *** up a large portion of high spenders who do not
shy away from a conflict free region.
Klink also said the country had unparalleled tourist
attractions that easily lure visitors. "A bigger chunk of German tourists is
made up of nature and outdoor lovers and Zimbabwe offer better national parks
and game reserves. The untouched nature is a big advantage," he added.
Tourism, due to its quick turnaround nature, is one of the key sectors that the Zimbabwe government is banking on for inflows to resuscitate the economy.
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