Zimbabwe open for business but company bloodbath continues to bite ​

01 April 2018 - 00:17
Zimbabwean President Emmerson Mnangagwa. File photo.
Image: Reuters Zimbabwean President Emmerson Mnangagwa. File photo.

About 65 companies operating in Zimbabwe have gone insolvent in the past six months, with “a sharp increase” in the number of firms going under.

This is amid a push by Harare’s new rulers to attract investment under the “Zimbabwe is open for business” policy.

President Emmerson Mnangagwa leaves today on a state visit to China,  where he is expected to court businesses to invest in his cash-starved country. 

According to the roll at the High Court in Harare this week, companies being placed either under judicial management or in liquidation represent all sectors of the economy, including agriculture, manufacturing, insurance and finance. 

The applications by the companies involved were filed with the court between October and March.

Read the full story in the Sunday Times