|Hi, I have started a new thread for the new company name.
|Result of AGM, board changes and Change of name
Following the passing of all resolutions at today's AGM, the board is pleased to announce the appointment of Ian Perkins as Non-Executive Chairman, Edzo Wisman as an executive director and Chief Executive Officer, and Itai Mazaiwana and Fred Jones as Non-Executive Directors with immediate effect.
The shareholders have today also approved the change of name to Cambria Africa plc. The Company's stock exchange symbol is to be changed to CMB and is expected to become effective on AIM on 28 February 2012.|
|Zambia's Sata Brands Tsvangirai As Western Puppet
Zambian President Michael Sata has branded MDC-T leader Mr Morgan Tsvangirai a "stooge" saying he will not stop President Mugabe from holding elections this year.|
Zimbabwe to Adopt Chinese Currency?
Zimbabwe: To Yuan or Not to Yuan, That Is the Question
Inter Press Service, 26 January 2012
Zimbabwe: Country Sliding Back Into Chaos, Say Analysts
22 January 2012
HAVING enjoyed relative peace for the past three years, Zimbabwe is slowly sliding back into political mayhem that existed just prior to the formation of the coalition government, political analysts have warned.
I have not kept an eye on what is happening for quite a while now so i am not up to speed on events. My last thoughts from about a year ago was that the army would take control after Mugabe died and Zanu PF's thugs went on the rampage.
Any view what happens when he does go? Civil War, Chaos, or a quick return to normality...|
Masawara PLC (AIM:MASA) is pleased to announce the commencement of dealings in its ordinary shares of US$0.01 ("Ordinary Shares") on the Alternative Investment Market of the London Stock Exchange following the issue of 30,957,863 million shares at 50 pence per Ordinary Share
Initial market capitalisation of US$80 million at the Placing Price and US$25 million new funds raised
§ The Company intends to pursue high quality new investment opportunities in Zimbabwe, adding to an existing portfolio of Zimbabwean assets, to participate in the recovery of Zimbabwe's economy. The directors believe that the growth of Zimbabwe's economy over the medium term will accelerate as the momentum of the political stability gathers pace
I do not presently hold, LZM or MASA.
|Was in this four years back expecting Mugagbe's imminent demise !
However I see now he has prostrate cancer and at 89 maybe it is time once again to take another look at this.
As I say long time since I looked at this, which quoted companies are actually still active in Zimbabwe, is it still Mwana and Caledonian?
Zimbabwe: Mugabe Pursues 'Indigenisation' Policy, 9 December 2011
Zimbabwean President Robert Mugabe's party Friday vowed to press ahead with a controversial "indigenisation" policy forcing foreign firms to cede a majority stake to locals.
"Zimbabwe cannot achieve any real and sustainable democracy for as long as its natural resources remain in the hands of foreigners and serve foreign interests and economies," said a document handed to some 3,000 delegates at a ZANU-PF conference in the second city Bulawayo.
The law targets companies valued at 500,000 dollars (369,000 euros) or more, particularly mining and financial firms.|
|a Zimbabwe related radio show.
Martin Plaut investigates Zimbabwe's agriculture ten years after the farm invasions.
In 2000, President Robert Mugabe introduced "fast-track land reform" to Zimbabwe in a wave of often violent takeovers of mainly white-owned farms.
Led by veterans of the second Chimurenga - the Zimbabwe War of Liberation of the 1960s and 1970s - the takeover was seen internationally as a disaster. It was widely reported that cronyism and corruption meant only the country's politically-connected elite were benefiting from the land reform programme, and in the process were leading Zimbabwe's lucrative agricultural export industry into freefall. But what is the situation a decade on?
Martin Plaut travels across Zimbabwe to investigate new research which suggests that farm production levels are recovering. He meets some of Zimbabwe's new black farmers - some of whom took part in the land seizures - who reveal how land reform has transformed their lives.
He also examines the fortunes of Zimbabwe's remaining white farmers and the black farm workers they employed and asks if country's wider economy has recovered from the massive disruption caused by land reform.
|A overview of the Zimbabwe investment situation from a company report released today.
There are still a number of challenging issues facing potential investors in Zimbabwe, particularly with regard to the indigenisation proposals and energy constraints. In addition the impact of the proposed increase in mining royalties will be considered carefully by the directors in assessing any potential investment.
I do not hold LZM at the Moment but i have bought and sold a few times over the years to various degrees of success and failure.
Indigenization looks like a new form of 'grab' to most people and that may be why investment in Zimbabwe as slowed and companys like LZM & MWA have gone nowhere. The last i read the 51% is a target but the Government will be flexible and review every case individualy. Some companys have been sent away to review their numbers but i did not read the details, It will be interesting to see what Barclays ZIM do when they come a knocking.
LZM could be underneith the radar as the different parts of the group are quite small and not in the mining sector ;-) . Todays fall in the LZM share price is possibly a reaction to Lonrho's share crash of the past week or two (i hold lots of Lonrho shares :-( )
They say Mr Mugaby as cancer and his party are already in a power struggle and with the elections expected for 2112 if the MDC can over come the violance and win the election maybe they can water this bill down. So Zimbabwe is worth keeping an eye on for the outcome of the election !.
|Fancy meeting you here, Tenapen!
I haven't looked at this for four years and wondered what was going on with the price fall.
It did start with the FY results, and this caught my eye immediately:
Following an extensive review and in-depth discussions the Company submitted a proposed indigenization plan to the Government, which has been welcomed and approved. The process is subject to various clarifications and recommendations. The plan outlines an agreed process whereby, via Zimbabwean financial institutions, state institutions and the wider population, it is possible for 51% of the equity in the Company to be acquired by Zimbabweans over a four year period.
Would welcome clarification, but it looks like a land grab to me.|
|November update did'nt look too bad. Anyone seen any news since then ? Why the sell off - just getting bored holding it as I am ?|
|The directors of LonZim (AIM: LZM), Beowulf Mining (AIM: BEM), Respect Your Universe (OTCBB: RYUN) and Wasabi Energy Limited (AIM: WAS) will be presenting on:
Tuesday 11th October 2011
Venue: Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB (Charles Suite)
The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.
REGISTER YOUR ATTENDANCE HERE: http://www.proactiveinvestors.co.uk/register/event_details/123
OR EMAIL: [email protected]stors.co.uk|
Robert Mugabe's Zimbabwe land seizures 'cost $12bn'
The seizure of most of Zimbabwe's white-owned land has cost nearly $12bn (£7bn) in lost production since 2000, the Commercial Farmers' Union says.
CFU head Deon Theron said agricultural production had fallen by 70%.
He also said that President Robert Mugabe and his family now "owned" 39 farms.
|Its good to see that Mr Mugabe can no longer bully others into accepting his demands.
Harare - Zimbabwe's three governing parties have agreed on an election timetable that effectively sets the date for the next polls in mid-2012 despite demands by President Robert Mugabe that they be held this year.
|With thanks to HJFe on the Mwana Africa thread for posting,
14 June 2011
Most investors understand emerging or frontier markets to mean Asia and Latin America. But perhaps a far more exciting frontier market opportunity lies in Africa. The past few years have seen more ways to invest in Africa emerge, but old stereotypes and new conflicts have dented sentiment - creating an opportunity for the patient and the risk-tolerant.
After a decade of decline, Zimbabwe's economy is recovering. The economy recorded 8.7% growth in 2010 and is forecast to grow by a further 9.3% in 2011. This growth is supported by an increase in production output of the country's mining sector.|
Putrajaya - President Mugabe has urged foreign investors, particularly those from countries under the ambit of the Smart Partnership Dialogue, to take advantage of limitless opportunities in Zimbabwe's economic sectors where they are guaranteed of getting the highest return on their investment.
Harare - PRESIDENT Robert Mugabe got a rude awakening during the extraordinary Southern African Development Community (Sadc) summit in Johannesburg after his angry protests about the damning Livingstone resolutions were rejected by regional leaders determined to call his bluff.
As pressure mounted on Mugabe, the aging Zimbabwe ruler who denies being old and being embattled by health failures, dropped an unprecedented diplomatic gaffe when he called Zuma Mandela, much to the dismay of Sadc leaders. Clearly disoriented by the situation, Mugabe referred to Zuma as Mandela before he was corrected by his counterparts. As if that was not enough, Mugabe is said to have said "oh ok Zuma" before making another blunder when he said "may Mandela's soul rest in peace".
June 15 (Bloomberg) -- Zimbabwe's military and state security agencies plan to install the head of the armed forces as president should Robert Mugabe become too ill to rule, a military official and two members of the highest decision-making body in Mugabe's party said.
Constantine Chiwenga will take over as national leader, sidelining Defense Minister Emmerson Mnangagwa, 64, and Vice President Joice Mujuru, 56, as potential presidents, according to the plan discussed by Mugabe loyalists who control the army, police, secret police and prison services. The officials, who spoke over the last week, declined to be identified because the plan is secret and they fear reprisals for giving out the information. The military is concerned by Mugabe's repeated trips to Singapore for medical treatment.