Mimosa – newzimbabwevision

Desperate Gvt Orders Army, Police Power Cuts, & 25 % For Big Mining Companies

Posted on October 7, 2015 by newzimbabwevision

IN a surprise move for a government which believes it is under siege from foreign enemies, a cabinet minister has ordered power cuts on army and police bases as the country struggles with a debilitating electricity supply crisis. “Security cantonments (ZNA and ZRP) shall be requested to voluntarily load shed non-critical and residential loads as army and police institutions so as to share the burden,” energy minister Samuel Undenge told Parliament Tuesday. Unable to produce…

Kasukuwere awarded Brainworks gvt advisory, $100m deal , without tender

Posted on June 21, 2015 by newzimbabwevision

PRIVATE equity group, Brainworks Capital, expected to earn a healthy $100 million when it was contracted to advise the government in its bid to force foreign mining companies to comply with the country’s indigenisation laws. The company was awarded the deal by a department in the empowerment ministry then headed by Saviour Kasukuwere without going to tender. “It’s not our duty to know whether there was supposed to be tenders or not,” Brainworks’ chief executive,…

‘Only 1 indigenisation transaction concluded, & all major mining deals ‘abandoned’,

Posted on June 19, 2015 by newzimbabwevision

ADVISORY firm Brainworks Capital on Thursday said only one indigenisation deal had been consummated by government, while transactions worth over $1 billion with major platinum mining firms Anglo American Platinum, Impala and Aquarius had been abandoned. Zimbabwe’s Indigenization Act — enacted in 2008 — requires foreign owned companies valued at over $500,000 to cede 51 percent to black locals. The local ownership law has been cited as a major impediment to foreign investment in an…