Zimbabwe Economic News: ZSE to Automation, Zimbabwe Energy Crisis to Ease, Foreign Firms Eye Bak Logistics, Plumtree-Mutare Highway on Target, Work on Kariba South Begins

ZSE to Automate by Year-end as Bourse Engages Consultant

ZSE has stepped up its efforts to automate as the local bourse plans to shift from the current paper-based trading platform by year end, the exchange has said. The ZSE announced that it was currently recruiting an automated trading system consultant tasked with improving efficiency of the exchange as well as catch up with regional peers. The exchange, according to terms and conditions of the consultant, embarked on an automated trading
system project for implementation by December 31, 2013- NewsDay, Tuesday June 18

Zimbabwe Energy Crisis to Ease in 2017

Zimbabwe's electricity generation is expected to improve in 2017 after the completion of expansion works at Hwange Thermal Power Station, a report by the energy regulator has shown. According to the Zimbabwe Energy Regulatory Authority Cost of Service Study on electricity supply completed in April, the country's perennial power crisis is expected to ease in 4 years due to increased capacity at Hwange. The report, however, said electricity
generated from Kariba Hydro Power Station would during the same period decline due to anticipated water constraints when Kariba South comes on line - NewsDay, Tuesday June 18

Foreign Firms Eye Bak Logistics

TSL Limited says foreign investors have expressed interest in its transport and freight subsidiary Bak Logistics Limited. TSL plans to engage a technical partner as part of efforts to bolster Bak and unlock shareholder value - Daily News, Tuesday June 18

Plumtree-Mutare Highway on Target

Rehabilitation and widening of the Plumtree-Mutare highway, one of the two critical highways bisecting Zimbabwe, should be complete by April next year, the Zimbabwe National Road Administration has said. The authority's chief executive Frank Chitukutuku said the project was progressing well - Herald,
Monday June 17

Work on Kariba South Begins

Preliminary work on the expansion of the Kariba South hydropower plant has begun with the topographical survey already finished. Zimbabwe Power Company operations director Wonder Magura confirmed that operations had started at the power plant - Herald, Monday June 17

Bullion, Platinum Drive Q1 Mineral Revenue

Gold and platinum contributed more than half of the revenue generated from the country's mining sector during the first 4 months of the year where a total of $584.7 mln was recorded from mineral output, the Chamber of MinesĀ  of Zimbabwe figures have shown. A total of 4 473 kg of gold was produced and earned the country $226.5 mln while total platinum output stood at 4 272 raising $196 mln. The two minerals have become the country's major revenue earners compared to other minerals. Gold and platinum output is projected to close the year at 17 000kg and 12 500kg respectively - NewsDay, Monday June 17

Flue-cured Tobacco Sales Increase

Flue-cured tobacco sales for the last 83 days of the ongoing marketing season increased by 22% to $548 mln compared to $449.5 mln recorded during the same period last year due to improved output of the cash crop, official figures have shown. Figures availed by the Tobacco Industry Marketing Board show that during the period under review, a total of 148 mln kilogrammes (kg) of tobacco were sold, indicating a 23.07% increase from 120.5 mln kg in 2012 - NewsDay, Monday June 17

Harare Buys 27 Garbage Trucks

Every ward in Harare now has a refuse truck after Harare City Council unveiled its newly purchased fleet. Harare unveiled 27 garbage trucks, plus 4 skip bin trucks worth $5 mln that will complement the overwhelmed 20 compactors currently servicing Harare's 46 wards. 6 tipper trucks have been purchased for road maintenance - Daily News, Monday June 17