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US think tank sees Zimbabwe boom under Mnangagwa
17 Aug 2018 at 07:31hrs | Views
President Emmerson Mnangagwa has firmly set Zimbabwe on a positive economic transformation path that will benefit the mining sector in the coming years, according to US global market data, analytical tools and risk services provider Fitch Solutions.
Fitch Solutions said it expected the country's mining industry to grow by an average 2,4 percent between 2018 and 2027, as it did not anticipate radical policy changes in the country's extractive industry.
This stems from the fact that while policies such as indigenisation and economic empowerment were scrapped for most minerals, the 51/49 equity shareholding structure was still applicable to diamonds and platinum, which may limit foreign entry into this area, Zimbabwe's biggest exports earner.
Meanwhile, the United States President Donald Trump's administration is ratcheting up pressure on embattled Mnangagwa by demanding that he is institutes a transparent and credible investigation into the August 1 killing of at least six protesters in Harare.
US Ambassador to Zimbabwe, Brian Nicholas said Washington was greatly disturbed by reports of violence and the death of six people.
Fitch Solutions said it expected the country's mining industry to grow by an average 2,4 percent between 2018 and 2027, as it did not anticipate radical policy changes in the country's extractive industry.
This stems from the fact that while policies such as indigenisation and economic empowerment were scrapped for most minerals, the 51/49 equity shareholding structure was still applicable to diamonds and platinum, which may limit foreign entry into this area, Zimbabwe's biggest exports earner.
Meanwhile, the United States President Donald Trump's administration is ratcheting up pressure on embattled Mnangagwa by demanding that he is institutes a transparent and credible investigation into the August 1 killing of at least six protesters in Harare.
US Ambassador to Zimbabwe, Brian Nicholas said Washington was greatly disturbed by reports of violence and the death of six people.
Source - Business Weekly
