Hwange Units 7 & 8, well-placed sources said, were constructed on a contract based in US dollars, and private foreign investment was utilised to finance the expansion project.

Small-to-Medium Enterprises Association of Zimbabwe chief executive officer Farai Mutambanengwe said the new measures had brought in confusion in the market.

Economist Tony Hawkins said: “Retailers are now allowed to buy direct from industry and manufacturers are allowed to sell to hotels subject to tax compliance.

President Mnangagwa last week gazetted General Notice 164B of 2024, exempting 21 public entities from compliance with the Public Procurement and Disposal of Public Assets Act.

Since the start of the marketing season, the top price for premium tobacco has been constant at US$4,99 per kg, while the contract price has been hovering around US$6 per kg.

The proposed legislation seeks to establish a system where mining information would be captured in real time.

Soaring public and private debt is also preventing investors from injecting fresh capital. 

The conference was held under a partnership  between the Zimbabwe Independent, Zimbabwe Stock Exchange, and Securities and Exchange Commission of Zimbabwe.

ZNCC said it also expected Ncube to pay attention to Zimbabwe’s debt crisis.

Mundangepfupfu founded Destiny Travel and Tours as well as Asset Guard Security Company in 2010.

According to the 2024 mid-term budget statement, the debt consisted of external debt stock amounting to US$12,3 billion and domestic debt stock of US$8,7 billion.

Despite efforts made by the Insurance and Pensions Commission (Ipec) to improve the insurance penetration rate in the country, IIZ reports that it remains at a paltry 3%.

Zhemu promised that government would ensure that housing projects meant to reduce the backlog were implemented seamlessly,