Zimbabwe Economic News: Hwange Mining Equipment, Telecel ZSE Listing, KM Financial Solutions CEO Africa Roundtable

Written by Ntando Sibanda, ZDDT News Correspondent Wednesday, 15 February 2012 18:18

A roundup of the latest Zimbabwean economic news.

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Telecel Zimbabwe intends to list on the ZSE as part of an initiative to raise additional capital and broaden the shareholder base.

Telecel Zimbabwe MD John Swaim said going public has become paramount for the telecommunications firm. "Listing is one of our aims once we resolve our internal issues, which we are addressing as matters of urgency. It is every company's wish to go public.

Through listing, we will raise more money because we will have broad-based shareholding," said Swaim – Sunday Mail, February 12,

Hwange equipment acquisition

Hwange has acquired new underground equipment from a leading South African mining equipment supplier that is set to increase production and improve efficiency.

The equipment includes some multi-purpose vehicles, which are principally used to transport machinery and workers in and
outside the mine – Herald, Monday February 13,

Zimbabwe Mining and Smelting Company

Rebuilding work on the Zimbabwe Mining and Smelting Company furnace number 2 is on schedule, with a number of local contractors already engaged to implement the project.

Refurbishment of the 15MVA furnace number 2 - which will result in a doubling of its capacity - represents the first phase of the company's $300 mln expansion project that is expected to increase Zimasco's ferrochrome production from 170 000 metric tonnes to 230 000 metric tonnes.

Hot commissioning of the furnace number 2 is expected by the end of this year – Herald, Tuesday February 14,

KM Financial Solutions CEO Africa Roundtable

The fourth session of the KM Financial Solutions CEO Africa Roundtable starts on Thursday in Victoria Falls and focus will be on imperatives to achieve the $100 bln economy target by 2040.

KM Financial Solutions business development executive Partridge Sibanda said they expect 200-250 delegates to attend the conference.

Among the high-profile delegates expected are Common Market for Eastern and Southern Africa secretary-general Sindiso Ngwenya who will be guest speaker, PM Arthur Mutambara, Finance Minister Tendai Biti, Tourism and Hospitality Industry Minister Engineer Walter Mzembi and Industry and Commerce Minister Welshman Ncube. The guest of honour is yet to be confirmed – Herald, Tuesday February 14,