Zimbabwe’s deteriorating economy and a stock market that’s fallen more than any other in Africa this year are doing nothing to scare off one of South Africa’s biggest money managers.
Ephraim Takavarasha sits on the sidewalk outside Johannesburg’s central bus station, wondering how long it will take him to sell his four cases of electrical sockets, mobile-phone chargers and alarm clocks when he returns to Zimbabwe.
Benson Mahenya makes as much as $10,000 a month as he drives around Harare in a white Mercedes- Benz dealing in the five currencies that Zimbabwe recognizes as legal tender.
Zimbabwe’s unemployment rate is estimated at about 70 percent, the Daily News reported, citing John Robertson , an independent economist in the country.
No gold miner in the world is offering acquirers faster growth at a cheaper price than Australia’s Regis Resources Ltd.
China’s Foreign Minister Yang Jiechi will begin a two-day visit to Zimbabwe as the government of the southern African nation hopes to attract billions of dollars in investment.
At Industrial Builders Inc., Paul Diederich plans to boost payrolls about 10 percent this year.
Pick n Pay Stores Ltd. , South Africa’s second-largest grocer, increased its stake in Zimbabwe’s TM Supermarkets to 49 percent, the company said.
"It's just an attempt to get any money they can because revenue is not meeting more than very basic needs."
- John Robertson on Oct 21, 2014