Afreximbank’s insurance subsidiary, AFREXInsure, secures its first transaction
AfrexInsure has completed its first insurance policy, facilitating the issuance of all-risk construction insurance cover to Oman Shapoorji Company in relation to the construction of the Afreximbank Africa Trade Center in Harare, Zimbabwe.
COMESA, Zimbabwe sign agreement to upgrade Chirundu border post
The Common Market for Eastern and Southern Africa (COMESA) Secretariat, and the Government of Zimbabwe, have signed a Euro 920,544.28 sub-delegation agreement to construct a cross-border market at Chirundu border post between Zambia and Zimbabwe.
[Zimbabwe] The People’s Own Savings Bank launches co-badged Debit and Prepaid Mastercard cards
The Mastercard debit card is now the default card that POSB account holders can use to transact whether they prefer using United States Dollars (USD) both internationally and/or locally, and local Zimbabwean Dollars (ZWL) using the same card (one card with two transacting currencies).
La Suisse s’engage à verser 15 millions de francs pour financer des PME en Zambie et au Zimbabwe
La Suisse s’engage à verser 15 millions de francs au Fonds de l’initiative Bamboo-UNCDF pour les pays les moins avancés.
[ChatGPT Biography] Strive Masiyiwa: Founder of Econet Wireless
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
[Column] Givemore T. Chiwanza: How has the Russia-Ukraine crisis affected Africa?
This Ukraine crisis escalated on 24 February 2022 and has tremendously impacted the global socio-economic terrain. The situation has and will continue to affect the African continent's financial system and food and energy security.
[Startup Interview] Tawanda Chitewe, CEO, iSeven Consultants, Zimbabwe
iSeven Consultants is a Zimbabwe based startup offering retail management consulting services. It has carved a niche in solving clients’ challenges in operations, procurement and inventory management, human resources and public relations.
[Interview] Byron Mudhune, Co-Founder, MafAfrique
Byron Mudhune is the co-founder and chairman of MafAfrique, an advisory and fund management group with operations in Africa and Eurasia.
[Column] Never Ncube: Seizing opportunities in Zimbabwe’s new era
While corporate connectivity will provide the foundations of a growing economy, the provision of technology solutions within the SME sector will ensure Zimbabwe’s growth path is as inclusive and wide-ranging as possible.
A guide to Africa’s key markets in 2018
For bond investors, Africa was a happy hunting ground last year. Its local-currency and dollar securities easily outperformed those of emerging markets overall as investors piled into a continent offering high yields and starting to recover from the commodity bust of three years ago.
[Column] Darryl Pietersen: Improving digital innovation and technology for Zimbabweans
While technology and innovation hold great promises for marginalised communities, including women across the African continent, conversations around women’s access to digital technologies remain topical.
Zimbabwe accedes to Afreximbank's Fund for Export Development in Africa (FEDA) establishment agreement
This accession marks another significant step forward in Afreximbank's efforts to mobilize its Member States to sign and ratify the Establishment Agreement of FEDA. It also demonstrates the growing support for FEDA as a new multilateral development platform.
Spear Capital to invest in Greenwave Milling
Spear Capital has concluded an investment deal with Greenwave Milling, a manufacturer and distributor of quality high-value basic commodities throughout Zimbabwe.
7 African Startups to receive $385k in developing solutions for blue economy
Climate resilience venture launcher Triggering Exponential Climate Action (TECA) has announced the selection of seven startups to each receive $55,000 in funding to advance their solutions for the blue economy in Africa.
EU greenlight to a €50m guarantee to support GreenCo’s expansion within SADC
European Fund for Sustainable Development plus (EFSD+) has given the green light to a €50m guarantee to support GreenCo’s expansion within the Southern African Development Community, including Zambia, Namibia, Zimbabwe and South Africa.
Mama Money partners with AFC Commercial Bank for money transfers to Zimbabwe
Mama Money, a South African fintech that offers cross-border money transfer and banking services, has partnered with AFC Commercial Bank, to allow Mama Money customers to easily send money to any AFC Commercial Bank branch.
Mobility for Africa receives $2 million funding from InfraCo
InfraCo Africa has signed an agreement committing US$2 million to scale the offering of Mobility for Africa, an electric mobility company delivering affordable, cargo-carrying e-tricycles and solar-powered battery charging solutions for underserved communities in rural Zimbabwe.
[Column] Susan Sitemere: The global benefits of online transfers in Zimbabwe
A combination of rapidly evolving technology and the restrictions imposed by the COVID -19 pandemic has resulted in nothing short of a revolution in the online money transfer sector.
World Bank Group appoints Nathan Belete as the new Country Director for Malawi, Tanzania, Zambia and Zimbabwe
Mr. Belete is an Ethiopian national and a development professional with over 25 years of work experience across Africa, East Asia, and South Asia.
TDB extends $10m trade finance to NMB Bank to support exporters in Zimbabwe
The Eastern and Southern African Trade and Development (TDB) has extended a 3-year $10 million trade finance line of credit to support NMB Bank’s corporate clients in export-focused sectors of the economy.
IDBZ has joined forces with Norsad Capital to create new opportunities for Zimbabwean businesses.
Norsad Capital signs Memorandum of Understanding (MoU) with the Infrastructure Development Bank of Zimbabwe (IDBZ) to create new opportunities for Zimbabwean businesses.
IFC partners with Nespresso to support coffee farmers in Uganda and Zimbabwe
IFC and Nespresso announced a new partnership to promote more sustainable, resilient, and inclusive livelihoods for coffee-growing communities in Africa while preserving some of the world's rarest coffee varieties.
[Column] Susan Sitemere: With cyber fraud on the rise in Zimbabwe, customer security remains essential
As online financial transactions are becoming increasingly popular, many Zimbabweans are adopting the use of mobile wallets and online banking services across the country.
Afreximbank Trade Payment Services (AfPAY) launched
African Export-Import Bank (Afreximbank) announced the commercial launch of Afreximbank Trade Payment Services – or “AfPAY” – an intervention designed to facilitate the settlement of international trade on open account terms on behalf of identified African financial institutions and their clients.
Invictus Energy spuds maiden Cabora Bassa oil and gas exploration well in Zimbabwe
Invictus Energy announced that drilling of its 80% owned and operated Cabora Bassa project in Zimbabwe at the Mukuyu-1 exploration well in SG 4571 has commenced.
Pitch AgriHack 2022 announced Six youth technology innovators in Africa as winners
Six youth technology innovators in Africa’s agriculture and food sectors win cash prizes in Pitch AgriHack 2022.
Launch of VFEX Online Trading Platform
The Victoria Falls Stock Exchange Limited (“VFEX”) announced the launch of VFEX Direct, an online trading platform specifically designed for retail investors.
WorldRemit partners with Hello Paisa to ease money transfers to Zimbabwe
This partnership allows the Zimbabwean diaspora to effortlessly send money back home and provides their loved ones the ability to receive and withdraw the funds through an extended cash pickup network in both rural and peri-urban areas.
Invictus raises $25m to fund Mukuyu-1 and Baobab-1 drilling campaign in Zimbabwe
Invictus Energy announced a private placement to raise $25 million at $0.23 per share following the Company’s decision to sole fund the initial drilling campaign in Zimbabwe’s Cabora Bassa Basin.
Invictus expands Cabora Bassa exploration licence footprint in Zimbabwe
Invictus Energy (Invictus) announced its 80% owned subsidiary Geo Associates, has executed agreement with Sovereign Wealth Fund of Zimbabwe (SWFZ) for assignment of exploration rights to Exclusive Prospecting Orders (EPOs) in Cabora Bassa Basin.
MAPP Africa signs MoU with EMA of Zimbabwe to set up highly advanced water quality monitoring
MAPP Africa has signed a Memorandum of Understanding with the Environmental Management Agency of Zimbabwe (EMA) to set up ground, surface, and portable water quality monitoring, microbiology testing-as-a-service business.
APO Group’s Beatrice Tonhodzayi appointed to the board of the Zimbabwe Tourism Authority
APO Group, the leading Pan-African communications consultancy and press release distribution service, is delighted to announce that its Account Manager Beatrice Tonhodzayi has been appointed to the Board of the Zimbabwe Tourism Authority (ZTA).
First Capital Bank partners with the EIB to develop SMEs and MidCap companies in Zimbabwe
The First Capital Bank, in partnership with the European Investment Bank, secured a developmental line of credit to the tune of €12.5 million, to develop eligible investment projects undertaken by SMEs and MidCap companies in Zimbabwe.
Invictus Energy executes well services contract with Baker Hughes for Cabora Bassa project in Zimbabwe
Invictus Energy confirms it has executed a binding well services contract with Baker Hughes for its basin opening drilling campaign in the Muzarabani-Mbire area of Zimbabwe, scheduled to commence end of July 2022.
Mukuru, WorldRemit partner to further expand remittance service into Southern Africa
Mukuru and WorldRemit announced a deepening of their existing partnership, with the aim to expand their collaboration for cash remittances into Zambia, South Africa, Mozambique, Malawi and Botswana.
Mastercard, Zimswitch partner to modernize Zimbabwe’s payment infrastructure
Mastercard and Zimswitch, Zimbabwe’s national payment switch, have partnered to enable the modernization of Zimbabwe’s payment infrastructure, using Mastercard’s technology, products and services.
Zimbabwe’s Russian-backed platinum venture sells stake to Fossil Mines
Great Dyke Investments, a Russian-backed project planning to build Zimbabwe’s biggest platinum mine, has sold a 4.4% stake to Fossil Mines, as Covid-19 disrupted fundraising for the venture.
ZOL Zimbabwe rebrands to Liquid Home Zimbabwe
ZOL Zimbabwe unveiled its new brand identity, Liquid Home Zimbabwe, to reflect the natural evolution of the well-loved home brand and its much-awaited alignment with the parent brand, Liquid Intelligent Technologies.
Juniper Biologics signs exclusive license agreement with Helsinn for infigratinib for the emerging markets
Juniper Biologics Pte Ltd, announced the signing of an exclusive license agreement to develop and commercialise infigratinib (INN) in the Middle East and Africa for the treatment of adults.
Invictus Energy receives multiple farm-in bids for the Cabora Bassa Project onshore Zimbabwe
Invictus Energy announced it has received three farm-in offers for the Cabora Bassa Project onshore Zimbabwe, including an updated bid from Cluff Energy Africa.
Digital farming on the move in Zimbabwe with FarmBuzz
Anesu Mapisa and Emmanuel Marume, two university graduates from Zimbabwe, set up the company FarmBuzz to help farmers improve their yields using drones.
L’agriculture numérique en marche au Zimbabwe avec FarmBuzz
Anesu Mapisa et Emmanuel Marume, deux diplômés universitaires du Zimbabwe, ont créé l’entreprise FarmBuzz afin d’aider les agriculteurs à améliorer leurs rendements à l’aide de drones.
[Zimbabwe] African Development Bank notes progress on arrears clearance
African Development Bank officials and representatives of the Zimbabwe government met to discuss the nation’s arrears clearance and ongoing partnership between the southern African nation and the development institution.
Invictus Energy signs rig contract for Cabora Bassa project in Zimbabwe
Invictus Energy announced it has executed a binding drilling rig contract for Cabora Bassa project with Exalo Drilling SA to drill the Muzarabani-1 exploration well and an option for an additional exploration well for the basin opening drilling campaign.
AfDB grant to improve governance of natural resource outflows in six African countries
Six African countries will soon benefit from a grant from the Transitional Support Facility (TSF) of the African Development Fund, through a project designed to strengthen national capacity for governing natural resource outflows in Africa.
Econet and Ericsson launch 5G in Zimbabwe
Econet Wireless Zimbabwe, has partnered with Ericsson to launch 5G services in Zimbabwe, in a significant milestone for the Zimbabwe Stock Exchange-listed mobile network operator and in light of Econet’s digital transformation journey.
Invictus receives Cabora Bassa final processed seismic data in Zimbabwe
Invictus Energy announced that data processing of the 2021 Cabora Bassa 2D Seismic Survey (CB21 survey) and concurrent reprocessing of a legacy Mobil dataset has largely been completed by onshore high resolution data specialists.
Zimbabwe becomes the 3rd country to restrict social media this year for political reasons
According to cybersecurity company Surfshark, Zimbabwe suffered its third internet disruption in the past 3 years, as internet service was purposely slowed down on Sunday, 20 February 2022.
IFC, Zimbabwe partner to develop agriculture insurance to protect smallholder farmers
IFC and Zimbabwe's insurance regulator, the Insurance and Pensions Commission (IPEC), announced a partnership to create a market for agricultural insurance products in Zimbabwe to protect smallholder farmers.
Invictus Energy awards well services contract to Baker Hughes for Cabora Bassa project in Zimbabwe
Invictus Energy announced that Baker Hughes has been awarded the integrated well services contract following completion of the tender and evaluation process for Cabora Bassa project in Zimbabwe.
The nexus between smallholder tobacco commercialisation and food security in Southern Africa
The event began with participants engaging in three parallel regional presentations and discussions for East, West and Southern Africa, and culminated in a continental-level panel involving expert commentators and audience questions.
Emirates restores flights to five African countries
Emirates resumed its passenger operations between Dubai and five African countries, offering customers more choice, superior value and enhanced connectivity to and through Dubai.
Liquid Intelligent Technologies welcomes ICASA’s implementing non-geo porting rules
Liquid Intelligent Technologies welcomes the landmark decision made by the Independent Communications Authority of South Africa (ICASA) concerning the porting of non-geographic numbers.
Invictus Energy receives 2D seismic dataset over Cabora Bassa project in Zimbabwe
Invictus Energy announced it received 2D seismic dataset of its 80% owned and operated Cabora Bassa project in Zimbabwe.
Invictus secures long leads for 2-well drilling campaign at Cabora Bassa, Zimbabwe
Invictus Energy confirmed it has secured the necessary casing, wellheads and ancillary long lead items for a 2-well drilling campaign at Cabora Bassa, Zimbabwe, commencing in May 2022.
Added boost for SADC export infrastructure as DHL Global Forwarding expands its presence in Zimbabwe
DHL Global Forwarding has launched in Zimbabwe to extend its presence across Africa.
Zimbabwean government grants land to Afreximbank for construction of the Africa Trade Centre
The African Export-Import Bank (Afreximbank) has been granted land in Harare by the Zimbabwean Government to build a landmark centre for facilitating intra-African trade.
Liquid Intelligent Technologies launches OneVoice for Cloud PBX in six African markets
Liquid Intelligent Technologies launched OneVoice for Cloud PBX offering in six key African markets. This is part of the organisation’s investment as it partners with its customers in their digital transformation journeys.
Invictus completes Cabora Bassa seismic survey in Zimbabwe
Invictus Energy announced that its 80% owned and operated Cabora Bassa 2021 seismic survey (CB21 Survey) project in Zimbabwe has been completed with a total of 839.5 km of high resolution 2D seismic data acquired.
[Zimbabwe] BancABC unveils co-branded cards to drive digital payments and e-commerce
The new cards, the bank says will enable customers to make safe and seamless digital, domestic and international payments including e-commerce transactions.
Caledonia Mining enters agreement to acquire Maligreen project in Zimbabwe
Caledonia Mining announced it has entered into an agreement to purchase the mining claims over the Maligreen project, a property situated in the Gweru mining district in the Zimbabwe Midlands, from Pan African Mining.
[Zimbabwe] L’accès à l’eau potable financé par l'AfDB transforme la vie quotidienne de Réfugiés
Un meilleur accès à l’eau a changé la vie des réfugiés et des communautés d’accueil en leur offrant de nouvelles opportunités.
Egypt joins Africa Finance Corporation as 32nd member state
Egypt’s Prime Minister, H.E. Dr Mostafa Madbouly, committed North Africa’s most populous nation to become the 32nd member of the region’s leading infrastructure solutions provider, opening up a potential $1billion of investments.
[Zimbabwe] Dubai Gold and Commodities Exchange partners with Victoria Falls Stock Exchange to boost commodities trading
As part of the agreement, the DGCX will extend technical support, knowledge, and skills to VFEX, with the ultimate aim of establishing an international commodities exchange in Zimbabwe.
90% of IT leaders across Kenya, South Africa and Zimbabwe step up their focus on Cyber Security, report
Over 90% of IT decision-makers across South Africa, Kenya, and Zimbabwe have accelerated their focus on Cyber Security due to the substantial emergence of digital ways of working.
Indian government extends one million dollars for climate resilient agriculture in Zimbabwe
The Government of India has contributed almost USD one million to the United Nations World Food Programme (WFP) in Zimbabwe to help affected populations tackle climate shocks.
The Research Hub by african|markets goes live
The african|markets team is proud to announce the launch of the public version of the Research, an Africa-focused research distribution platform that connects investors to some of the best equity analysts covering Africa’s frontier markets.
FAO launches new online course to capacitate poultry farmer field school facilitators and master trainers in Zambia and Zimbabwe
The course will broaden their knowledge and skills in FFS facilitation in poultry production and health and in approaches to promote prudent antimicrobial use and raise awareness on antimicrobial resistance
DPA to install solar panels in TotalEnergies service stations in Zimbabwe
Distributed Power Africa (DPA), has been selected as one of the energy companies contracted for the installation of solar power for TotalEnergies Zimbabwe service stations across the country.
Invictus terminates farm-in agreement for Cabora Bassa Project in Zimbabwe
Invictus Energy announced that its previous non-binding farm-in agreement for the Cabora Bassa Project in Zimbabwe, has been terminated.
Zambia, Zimbabwe develops implementation plan for the Joint Industrialization Programme
The Zambia-Zimbabwe Technical Working Group (TWG) on the Joint Industrialization programme has agreed on an action matrix to guide the implementation of the programme and provide a timeframe for achieving the set targets.
Eight COMESA countries sign the Air Transport Market agreement
These are the Democratic Republic of Congo, Egypt, Ethiopia, Kenya, Rwanda, Eswatini, Zambia and Zimbabwe. This initiative is led by the African Union through the African Civil Aviation Commission (AFCAC).
NAS awarded airport lounge tender for new terminal at Kenneth Kaunda International Airport, Zambia
National Aviation Services (NAS), airport services provider, and NAC2000 Corporation have been awarded a tender to operate an airport lounge in the new terminal at Kenneth Kaunda International Airport (KKIA) in Lusaka, Zambia.
EIB, CABS unveil €15m financing for entrepreneurs and businesses across Zimbabwe
The European Investment Bank (EIB), has unveiled a €15 million of new long-term financing for entrepreneurs and businesses across Zimbabwe in cooperation with local bank CABS.
Invictus awards Cabora Bassa Basin seismic contract in Zimbabwe
Invictus, following the recent signing of the PEDPA with the Republic of Zimbabwe, has awarded Polaris Natural Resources a contract to provide acquisition services for its first 2D seismic program in the Cabora Bassa Basin.
[Nigeria] Africa Data Centres confirms build of 10MW Lagos data centre
Africa Data Centres, Africa’s largest network of interconnected, carrier- and cloud-neutral data centre facilities, has confirmed a significant investment into the construction of a new data centre facility in Lagos, Nigeria.
Zimbabwe agritech startup Farmhut secures investment to scale operations
Zimbabwe agritech startup Farmhut has received $US100 000 investment from the Hult Prize Foundation. This follows through the Hult Prize accelerator program of the 2020 cohort.
Invictus signs Petroleum Exploration Development & Production Agreement with Zimbabwe
Invictus Energy announced that following approval from President E.D. Mnangagwa, the Petroleum Exploration Development and Production Agreement (PEPDA) between Invictus and the Republic of Zimbabwe has been executed.
Invictus completes A$8.0m placement in Zimbabwe
Invictus Energy has received firm commitments from new and existing institutional and sophisticated investors to raise A$8.0 million (before costs) by way of a share placement.
[Zimbabwe] EU invests €5 million in climate-smart innovations in livestock production
The European Union-funded, Livestock Production Systems in Zimbabwe (LIPS-Zim) Project has been launched in Buhera District, Zimbabwe.
Zambia, Zimbabwe to implement the joint industrialization strategy
Zambia and Zimbabwe have signed a Memorandum of Understanding to implement a joint industrialization project spearheaded by COMESA Secretariat.
AECF launches $1.2 million Innovation Fund to unlock the potential of renewable energy
Businesses and entrepreneurs in Burkina Faso, Ethiopia, Kenya, Liberia, Mali, Mozambique, and Zimbabwe can apply for funding.
Zimbabwe signs Treaty for establishment of African Medicines Agency (AMA)
The Republic of Zimbabwe became the nineteenth (19th) African Union (AU) Member State to sign the Treaty for the establishment of the African Medicines Agency (AMA) on 16 March 2021, at the AU Commission in Addis Ababa, Ethiopia.
[Zimbabwe] Afreximbank invests $70 million in upgrading Beitbridge border post
The Beitbridge border post upgrade project, which is a public-private partnership, is the first of its kind in Zimbabwe.
WFP strengthens community skills in Zimbabwe’s urban centres with SDC support
The United Nations World Food Programme (WFP) welcomed an additional $7 million in new funding from Switzerland, through the Swiss Agency for Development and Cooperation (SDC).
Comair resumes Johannesburg, Harare flights
British Airways operated by Comair, South Africa’s premium full-service airline, announced the reopening of bookings for daily regional flights between Johannesburg and Harare.
Chr. Hansen Natural Colors appoints Barentz as distribution partner in South Africa and Zimbabwe
Chr. Hansen Natural Colors, the global company dealing in colors from natural sources, has appointed Barentz as its strategic partner for the distribution of their natural color portfolio in South Africa and Zimbabwe.
Invictus receives non-binding offer for farm-in to Cabora Bassa Project in Zimbabwe
Invictus Energy announced it received a non-binding offer for farm-in to the Cabora Bassa Project in Zimbabwe, during the quarter ending December 2020.
Zimbabwe Receives 200,000 Doses of China's Sinopharm COVID-19 Vaccine
Zimbabwe has received its first batch of 200,000 doses of Sinopharm donated by the Chinese government in the fight against the coronavirus pandemic.
[Zimbabwe] President appoints ambassador Shava new minister of foreign affairs
Zimbabwean President Emmerson Mnangagwa has appointed Frederick Shava as the new Minister of Foreign Affairs and International Trade, following the death of Sibusiso Moyo who succumbed to Covid-19 related complications last month.
FAO, AFD launch project to boost sustainable wildlife management, food security in southern Africa
FAO and the French Development Agency (AFD), launched a new €3.5 million project to improve sustainable wildlife management and food security in the world's largest terrestrial transfrontier conservation area.
Eutelsat partners with TelOne to roll out broadband connectivity in Zimbabwe
Eutelsat Communications and TelOne (Pvt) Limited, one of Zimbabwe’s Internet Service Providers, have signed a master service agreement to bring high quality satellite broadband to Zimbabwe.
BaseKit, Liquid Telecom partnership to help African businesses establish online presence
Website builder BaseKit is set to partner with Liquid Telecom to provide a website and eCommerce builder to customers of the African communications provider.
AFD, CIRAD partner to develop sustainable management management tools for zoonotic diseases in Zimbabwe
The French Development Agency (AFD) and the French Agricultural Research Centre for International Development (CIRAD) signed an agreement to develop the Zimbabwean agricultural sector’s capacity in biotechnology.
WorldRemit announces Africa-focused Entrepreneurship Program in Kenya
WorldRemit, a global digital payments company, has launched an Africa-focused entrepreneurship programme in Kenya, Nigeria, Ghana and Zimbabwe.
[Zimbamwe] MSF hands over successful HIV & cervical cancer project to Health Ministry
After nearly 10 years of providing quality HIV and cervical cancer treatment and prevention services in Gutu District, Zimbabwe, the international medical humanitarian organisation MSF is handing over its project activities to the Ministry of Health.
Climate change and COVID-19 have amplified food insecurity in Southern Africa, report
According to World Food Program officials, about 45 million people in Southern Africa are facing food insecurity and the worst affected country is Zimbabwe.
Emirates resumes flights to South Africa, Zimbabwe and Mauritius
Emirates announced it will resume flights to Johannesburg (1 October), Cape Town (1 October), Durban (4 October) in South Africa; Harare in Zimbabwe (1 October); and Mauritius (3 October).
Invictus Energy to begin oil and gas drilling in Zimbabwe
Australian listed oil and gas exploration company Invictus plans to begin drilling Zimbabwe’s first oil and gas wells in the Muzarabani prospect in October next year.
Nurses lay foundation for better chronic disease management in Zimbabwe, study
Doctors Without Borders (MSF) encourages the Zimbabwe Ministry of Health and Child Care to maintain and replicate this first of its kind nurse-led Non-Communicable Diseases (NCDs) healthcare model across the country.