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☆ Zimbabwe Bets on No Till Farming to Reduce El Nino Impact on Grain
▼ + stars: | 2024-02-07 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

No till farming minimises soil disturbance, which helps keep carbon in the soil and also enriches soil biodiversity, reducing the need for chemical fertilisers that emit greenhouse. Zimbabwe is one of the countries worst affected by the El Nino weather pattern and struggles to feed itself. Zimbabwe produced 2.3 million tons of maize last year. The country requires 2.2 million tons of the staple grain annually for human and livestock consumption. "This is a reflection that farmers are adopting the recommended climate-proofing interventions, especially during the El Nino condition," cabinet said in a statement released late on Tuesday.

Persons: Vangelis Haritatos, Mthuli Ncube, Zimbabwe's, Nelson Banya, Michael Perry Organizations: Reuters, El, Finance, Nino Locations: HARARE, Zimbabwe, El Nino, Pacific

☆ Zimbabwe: Outrage as Mnangagwa appoints son second-in-command over treasury after disputed polls
▼ + stars: | 2023-09-13 | by ( Nimi Princewill | ) edition.cnn.com time to read: +3 min

CNN —Zimbabwe’s recently re-elected President Emmerson Mnangagwa is facing outrage after appointing his son as deputy minister to the country’s finance ministry. Mnangagwa’s 34-year-old son, David, was among 26 officials sworn in as cabinet ministers Tuesday despite public anger when the list of the nominees was made public on Monday. In his expanded cabinet, Mnangagwa’s son is to deputize finance minister Mthuli Ncube while his nephew, Tongai, would serve as deputy minister in the country’s tourism ministry. Some Zimbabweans have accused Mnangagwa of running the impoverished southern African country as “a family business.”“Slowly Zimbabwe is becoming a family business. The opposition CCC party, which placed second in last month’s disputed polls, also criticized the ministerial list which included a couple, Christopher and Monica Mutsvangwa, both associates of President Mnangagwa, as ministers.

Persons: CNN — Zimbabwe’s, Emmerson Mnangagwa, David, Mnangagwa’s, Mthuli Ncube, Tongai, ”, Mugano, “ It’s, Ncube, ” Mugano, David Mnangagwa, Nick Mangwana, “, ” Mangwana, Christopher, Monica Mutsvangwa, Mnangagwa Organizations: CNN, University of Zimbabwe, Business Administration, Drake University, CCC Locations: Zimbabwe, Harare, doldrums, United States

☆ Zimbabwe's Mnangagwa appoints son as deputy finance minister in new cabinet
▼ + stars: | 2023-09-11 | by ( Nyasha Chingono | ) www.reuters.com time to read: +2 min

Zimbabwe President Emmerson Mnangagwa speaks during his inauguration at the National Sports Stadium in Harare, Zimbabwe September 4, 2023. REUTERS/Philimon Bulawayo/File Photo Acquire Licensing RightsHARARE, Sept 11 (Reuters) - Zimbabwean President Emmerson Mnangagwa on Monday appointed his son as the deputy finance minister and retained Mthuli Ncube as the finance minister as he battles to rescue the country's ailing economy. Mnangagwa appointed his son David Mnangagwa to be Ncube's deputy as part of the parliament's youth quota, while also announcing Soda Zhemu to head the mining ministry. Mining generates more than half of Zimbabwe's foreign export earnings and Mnangagwa has said the sector, which is attracting investors in lithium mining, will anchor future economic growth. The ruling ZANU-PF party's national chairperson Oppah Muchinguri-Kashiri was re-appointed as the Defence Minister.

Persons: Emmerson Mnangagwa, Mthuli Ncube, Mnangagwa, Ncube, David Mnangagwa, Zhemu, Winston Chitando, Oppah Muchinguri, Kashiri, Nyasha Chingono, Bhargav Acharya, Hugh Lawson Organizations: Zimbabwe, National Sports, REUTERS, Philimon, Rights, Mines Minister, of Energy, Power Development, Mining, ZANU, PF party's, Defence, Thomson Locations: Harare, Zimbabwe, Philimon Bulawayo, Rights HARARE

Police sealed off roads around the election results centre on Friday morning, and members of the public were being stopped for questioning, a Reuters reporter in the capital Harare said. However, results announced so far by the Zimbabwe Electoral Commission showed ZANU-PF winning 38 parliamentary constituencies and the main opposition party Citizens Coalition for Change (CCC) winning 32, out of a total of 210 single-member constituencies. The early results showed ZANU-PF retaining its rural base, while the CCC captured the urban vote, as has been the case in previous elections. In the highest-profile loss yet for the ruling party, the electoral commission said on Friday that Finance Minister Mthuli Ncube had lost his parliamentary contest to a CCC challenger. Mnangagwa took over from longtime strongman Robert Mugabe after a 2017 coup and won a disputed election in 2018.

Persons: Emmerson Mnangagwa's, Nelson Chamisa, Patrick Chinamasa, Mthuli Ncube, PF's Chinamasa, Mnangagwa, Robert Mugabe, Nelson Banya, Bhargav Acharya, Nellie Peyton, Alexander Winning Organizations: REUTERS, Philimon, Rights, Emmerson Mnangagwa's ZANU, World Bank, International Monetary Fund, Police, ZANU, National Assembly, Commission, Coalition, PF, CCC, Thomson Locations: Harare, Zimbabwe, Philimon Bulawayo, Rights HARARE

☆ African Devt Bank proposes 'fast track' compensation for Zimbabwe white ex-farmers
▼ + stars: | 2023-05-15 | by ( Nyasha Chingono | ) www.reuters.com time to read: +2 min

HARARE, May 15 (Reuters) - The African Development Bank (AFDB) has developed financial instruments to "fast track and front load" $3.5 billion in compensation to white farmers whose land was taken from them by Zimbabwe's government, the bank's president said on Monday. Zimbabwe agreed in 2020 to compensate local white farmers whose land was taken by the government from 2000 onwards to resettle Black families, in one of the most divisive policies of the Robert Mugabe era, while foreign white farmers were allowed to apply to get seized land back. Adesina said the new proposal to former white farmers would "help leverage the capital markets to fund the compensation without adding debt to Zimbabwe," without providing further details. Adesina said that 91% of Zimbabwe's multilateral debt and 61% of its bilateral debt is in arrears. "The government takes full ownership of the debt process and the implementation of reforms," Finance Minister Mthuli Ncube told the press conference.

[1/2] Mourners hold a poster during the state funeral of Zimbabwe's longtime ruler Robert Mugabe at a national sports stadium in Harare, Zimbabwe, September 14, 2019. Still, some farmers say they will reject the government's $3.5 billion compensation package for being inadequate financially and for paying scant regard to land restitution or restoring property rights. Farmers say the plan was agreed by the Commercial Farmers Union in July 2020 and subsequently revised without adequate consultation. "The offer of bonds represents a very significant reduction in value with a prolonged redemption period," Gilpin, 67, told Reuters. The government was continuing discussions with farmers over appropriate payment methods and time frames, Ncube said.

☆ Zambia extends electricity rationing to mining firms
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

Companies ZESCO Limited FollowLUSAKA, Jan 10 (Reuters) - Zambia has started rationing electricity supply to mining firms following reduced power generation after a big drop in water levels in lake Kariba, the chairman of state-owned power utility Zesco said on Tuesday. Water levels in the lake were down at 1.66% of usable storage on Monday for the Kariba North Bank Power Station in Zambia and the Kariba South Bank Power Station on the Zimbabwean side of the lake, said the Zambezi River Authority, which manages the dam. The north bank power station has an installed capacity of 1,080 megawatts (MW), while the south bank power station in Zimbabwe has a capacity of 1,050 MW. Water levels in the lake have fallen due to reduced inflows from the Zambezi river and its tributaries and heavy use by power generation companies in Zimbabwe and Zambia. Ncube said power rationing was expected to be reduced by the middle of next month as water levels increased and full generation was to likely resume in March.

☆ IMF sees Zimbabwe's 2022 real GDP growth slowing to about 3.5%
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, Dec 15 (Reuters) - Zimbabwe's real GDP growth is expected to slow to about 3.5% in 2022 from 8.5% last year, the International Monetary Fund said on Thursday as it concluded its mission to Harare. Multiple shocks such as a surge in inflation, erratic rainfall and electricity shortages will continue to weigh on Zimbabwe’s growth prospects, it said in a statement. Zimbabwe is engaging with the World Bank and IMF over how to clear its debts with international financial institutions, finance minister Mthuli Ncube said in October. Uncertainty remains high, however, and the economic outlook will depend on the implementation of key policies and the evolution of external shocks, the IMF said. It has not received funding from lenders like the IMF and World Bank for more than two decades as a result.

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