Harare: Justice and Legal Affairs deputy minister Obert Gutu says the government must craft a clear policy strategy in order to trade meaningfully with Asian countries if it is serious about adopting the Look East Policy. Gutu made the remarks in Hunan Province in China last week when he was presenting a paper on prevention and remedies to China-Africa investment risk at a legal seminar between China and Southern African countries on economic, trade and investment co-operation.
Johannesburg: There are three ways to view the advent of international courts - ‘Community law', as some style it - in Europe and Southern Africa. The first is suggested by the title for this session: a noble dream (in the phrase Nicola Lacey has so tellingly used in her biography of HLA Hart), but one which wakes to disillusion, or dysfunction, or both. The second is Lacey's antithesis: nightmare. There are two variants of this. The first is that projected in Southern Africa by Zimbabwe, and other countries which (as I shall describe) have flocked to its standard.
Pretoria: The Ministers of Finance of South Africa and Zimbabwe, Honourable Pravin Gordhan and Honourable Tendai Biti, met today (Friday) to discuss ways of deepening cooperation between the Governments of South Africa and Zimbabwe. The discussions centred on the resolution of the Extraordinary Summit of the SADC Heads of State and Government held at the Lozitha Palace, Kingdom of Swaziland, on 30 March 2009, to provide support to Zimbabwe’s Short Term Economic Recovery Programme (STERP).
Brussels: We, the leaders of the European Union (EU) and South Africa (SA), meeting today in Brussels, reaffirm our commitment to a strategic partnership based on shared values and interests, including the promotion of peace and security, human rights, democracy, the rule of law and inclusive sustainable development across our regions.
Harare: Since dollarisation in 2009, policymakers in Zimbabwe have failed to solve the problems created by weak banks in a bankrupt econokmy with an overcrowded financial sector. Policy – driven by politicians not technocrats – has been decidedly populist. It is familiar bank-bashing (over excessive charges, punitive interest rates and a reluctance to lend to SMEs) and politicians demanding rescue packages for banks that get into trouble. Four banks including the country’s biggest have turned to the government for help in the last two years. Now there’s a new plan to set up a fund for bad loans with a Dubai investment company’s help.
Harare: Zimbabwe's trade deficit widened in seven months to August this year, as imports significantly rose by 30 percent, to US$2,9 billion, compared to the same period last year, according to official statistics. Trade deficit measures show imported goods and services into the country exceeded exports. Global foreign payments reached US$5,1 billion versus the export value of U$2,2 billion. Minerals constituted about 71 percent of total exports, led by platinum at US$511 million, diamonds US$456 million and gold at US$400 million.
Harare: South Africa's Treasury yesterday said it could only open its purse to Zimbabwe if the country negotiates for the financial aid in the letter and spirit of the Global Political Agreement, which gave birth to the coalition government in 2009. This follows an announcement by Finance minister Tendai Biti last week that government would later this month take its begging bowl to South Africa seeking $100 million in aid after projected revenues had missed targets due to the underperformance of diamond revenue.
Pretoria: The South African Minister of Finance, Pravin Gordhan, is scheduled to meet his Zimbabwean counterpart, Mr Tendai Biti, this month to discuss Zimbabwe’s request for further financial assistance. The request will thereafter be discussed by the South African Cabinet.
Harare: President Jacob Zuma's backroom facilitation team is expected in Harare today to get an update on Constitution-making in Zimbabwe. But, political analysts said the visit was insignificant because the final determination on the draft Constitution lay with principals in the inclusive Government. They said a "clear signal" on the way forward would come from the principals, not the facilitation team.