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Old Mutual has listed on Zimbabwe’s Victoria Falls Stock Exchange, after being delisted six years ago.

Source: South African giant makes big move in Zimbabwe – BusinessTech

Shares in Old Mutual began trading on Zimbabwe’s dollar-denominated stock exchange, six years after they were suspended on the country’s main bourse to curb a currency rout.

The shares debuted at 76 US cents apiece on the Victoria Falls Stock Exchange on Wednesday and advanced 2.9% to 78.17 cents by the close, valuing Africa’s largest insurer by assets at $51 million.

In neighbouring South Africa, where the company is based, the stock closed at R12.56.

Old Mutual migrated its listing from the Zimbabwe Stock Exchange in 2020, after Zimbabwean authorities suspended trading in its stock, along with other cross-border companies.

This included South Africa’s PPC Ltd. and Seed Co., because their dual listings enabled investors to exploit differences between the two nations’ exchange rates as the Zimbabwean dollar collapsed.

“We expect the listing to generate interest from both local and international investors over time,” Old Mutual, said in an emailed response to questions.

“The counter will trade in USD, which supports clearer valuation and also results in lower foreign currency risk, which are critical factors for international investors.”

The VFEX, formed the same year Old Mutual was suspended, surpassed the 132-year-old Harare-based ZSE in market value in March, after tycoon Strive Masiyiwa moved telecommunications infrastructure firm Econet to the platform at a $1 billion valuation.

The bourse has so far had one delisting this year — hospitality group African Sun — and may soon have another.

Retailer Edgars, which moved to the VFEX in 2024 after 50 years on the ZSE, plans to delist next month, citing the expansion of Zimbabwe’s informal economy and the costs and obligations of maintaining a listing.

The post South African giant makes big move in Zimbabwe appeared first on Zimbabwe Situation.

Source: The Kariba Ferry Disaster: What the State Knew & What It Did

Dear Reader,


Government records, historical reports, survivor testimonies, media reports and official statements establish an uncomfortable pre-disaster history. Mbuya Nehanda, KF551, was a government passenger ferry operated by Zimbabwe’s Rural Infrastructure Development Agency (RIDA), providing public water transport on Lake Kariba. Five years before the tragedy, the Office of the President and Cabinet had acknowledged persistent breakdowns in the ageing ferry fleet on Lake Kariba and announced plans for refurbishment. The state had also documented the dependence of isolated lakeshore communities on government water transport. On 11 August 2026, evidence points to a safety warning advising boats not to sail because of dangerous waves. Mbuya Nehanda had a stated passenger capacity of 90, excluding crew, and required adequate life jackets. Yet that fateful afternoon on 11 August 2026 it sailed from Kariba for Chalala in Nyaminyami Rural District, carrying adults, children, infants and substantial cargo. It sank near Long Island. At least 44 people are confirmed dead, with the toll likely to rise.
Before proceeding, my deepest condolences go to the bereaved families and survivors. I hope a national resolution of the following seven puzzles will help establish the truth, secure accountability and bring some measure of closure.

First, what happened after the state identified serious problems with its own ferry fleet?
Five years before Mbuya Nehanda sank, government had identified persistent breakdowns in the Lake Kariba fleet and announced plans to modernise it. In November 2021, Dr Martin Rushwaya, then Deputy Chief Secretary in the Office of the President and Cabinet, toured Nehanda, Chaminuka and Nyaminyami fleet. The state-owned Herald reported “constant breakdowns and high operating costs”, assessments of refurbishment needs, and new engines for Chaminuka costing about US$40,000. The unanswered question is what followed for the 41-year-old Mbuya Nehanda. Was it refurbished? Who received the contracts, for how much, and what work was actually completed? The inquiry must follow that documentary trail from the 2021 government diagnosis and promised refurbishment to the vessel that sailed on 11 August 2026.
Second, was this simply an unpredictable weather event?
Evidence suggests warning signs existed before Mbuya Nehanda started the journey. Weather undoubtedly matters. But weather explains the waves, not necessarily the decision to sail. Survivor Itai Marumisa told journalists that strong winds known in local lexicon as ‘Binga wave’ were already whipping across the lake, water was entering the boat and a battery and inverter were swept overboard. Passengers asked the captain not to sail and, according to Tatenda Sianjeme, repeatedly urged him after departure to turn back or shelter at an island. ZimLive reported that Brenda Javis said the Lake Captain had warned boats not to sail because of dangerous waves. Earlier disaster-risk work by Zimbabwe Red Cross Society identified strong winds and waves as recurring Lake Kariba dangers and established community warning mechanisms. However, the state subsequently attributed the disaster to an unexpected strengthening of the South Indian Ocean anticyclone, while President Mnangagwa described conditions as “rough and choppy.” It seems visible warnings were ignored.
Third, how many people were actually aboard?
The numbers expose a serious failure of passenger accounting. On 11 August, police spokesperson Paul Nyathi initially reported exactly 90 passengers and five crew. However, police later confirmed that 90 was Mbuya Nehanda’s official passenger capacity, excluding five crew. The initial figure therefore appears to have reproduced capacity rather than established the number aboard. The following day, Nyathi said police were still verifying numbers and cited 120 people. Cecilia Chitiyo, Provincial Director in the Ministry of Local Government and Public Works, reported 114 ticketed adults, five crew and an unknown number of children. But tickets are not people. Crucially, surviving RIDA crew member Anyway Chambati, responsible for ticketing, told the state-owned Zimbabwe Broadcasting Corporation (ZBC) that he counted 153 people, including crew and infants. That makes 153 plausible, but requiring forensic verification. The exact toll may never be known if unticketed passengers, particularly infants, remain missing in the vast, crocodile- and hippo-inhabited Lake Kariba.
Fourth, was the rescue really “prompt and swift”?
The rescue must be examined both aboard Mbuya Nehanda and after it capsized. On board, survivors say life jackets were few and concentrated among passengers on the upper deck, leaving those below particularly exposed. The experience of survivor Itai Marumisa, who spent nearly an hour in the water before a helicopter spotted her, raises further questions about response time. Off the boat, freelance divers such as Wonder Mujokeri, private boats and Matusadona conservation teams, using speedboats and a privately owned helicopter, reportedly rescued people, while the police Sub-Aqua Unit, army Boat Squadron and Civil Protection Unit were subsequently mobilised. By 12 August, a total of 67 people had been reported rescued by the police. Mnangagwa described the response as “prompt” and “swift”, yet acknowledged “serious deficiencies in our maritime capabilities.” The crucial task is therefore to reconstruct who responded, when, and with what capacity.
Fifth, is the politics of calling Chalala a “fishing camp”
Reader, calling Chalala a “fishing camp” plays a particular politics that does more than misdescribe a place. It can obscure citizenship and the corresponding obligations of the state. A camp suggests a specialised or temporary population requiring access and transitory services. A settled community requires sustained public investment. Yet state narratives and much mainstream reporting have described Mbuya Nehanda as travelling to “Chalala Fishing Camp”. The terminology survives from an earlier administrative history in which Kariba fishing camps were conceived largely as fishing and tourism spaces, despite people subsequently settling, working and raising families there. Chalala is now a settled community in Ward 1 of Nyaminyami Rural District. The passengers themselves reveal that reality. Children and infants were aboard; people carried groceries and household goods home; others were proceeding to settlements elsewhere in Nyaminyami. Mbuya Nehanda was therefore state-owned public transport connecting citizens to homes, markets and services, not simply a boat transporting people to fish.
Sixth, why was there still no reliable and affordable alternative transport system?
The state had documented the isolation of these Nyaminyami communities for decades, but never resolved it. Chalala lies about 50km across the lake from Kariba urban, but by road residents travel through Siakobvu, Musambakaruma, Zvipani, Magunje and Karoi, a round trip of about 410km. The 50km Chalala-Siakobvu stretch traverses particularly difficult terrain and, during heavy rains, communities can become inaccessible by road altogether. During the 2016 El Niño drought, Kariba District Administrator Amigo Mhlanga acknowledged that poor roads impeded food relief and that supplying Ward 1 (Chalala) by boat was cheaper. By February 2025, affordability remained a problem. Government spokesperson Nick Mangwana announced on X (formerly Twitter) that RIDA had cut the Peter’s Point-Chalala ferry fare from US$15 to US$10. Difficult terrain, impassable roads and unaffordable alternatives had left isolated communities dependent on a fragile public ferry system, without a serious state solution more than four decades after independence. Does ‘Zimbabwe’ exist for all citizens?
Seventh, is Lake Kariba being governed through the wrong public-policy lens?
Reader, the disaster exposes a deeper problem in how the state conceptualises Lake Kariba. After the sinking, Mnangagwa described the lake as one of Zimbabwe’s “places of recreation.” But for Chalala and other isolated lakeshore communities, the lake is also effectively a road. Government’s own history shows that Mbuya Nehanda and its sister ferries transported people and goods between Kariba and remote rural communities. Residents use that route to reach homes, markets, food supplies and hospitals. The distinction matters for public policy. A recreation lens prioritises tourism, leisure and the safety of occasional users. A public-transport lens extends demands to reliable scheduled services, affordable fares, safe vessels, emergency capacity and viable alternatives when boats cannot sail. Mbuya Nehanda was performing that essential public function when it sank. The policy question is whether the state has also sufficiently governed Lake Kariba as transport infrastructure on which permanent rural communities depend.
But what must happen now?
Reader, the declaration of a State of Disaster is commendable, but emergency resources must reach affected families transparently and without elite capture. Beyond immediate relief, Zimbabwe needs an independent Commission of Inquiry with public findings, an urgent safety audit of the remaining ferry fleet, and a reliable and affordable public transport system for lakeshore communities. Survivors and bereaved families must also be consulted directly about the relief, restitution and compensation they require. But families should not have to wait for the Commission’s findings before receiving meaningful support.
By P. Zamchiya, 13 August 2026
pres1zamchiya@gmail.com

The post The Kariba Ferry Disaster: What the State Knew & What It Did appeared first on Zimbabwe Situation.

HARARE – Rockford “Roki” Josphats has apologised for the public drama that followed a viral video showing him being confronted and pulled by an unidentified woman in Harare, while insisting that he did not have sex with her and that he was assaulted during the altercation. The Urban Grooves star has faced intense public attention […]

The post She wanted sex the whole day: Single-and-searching Roki apologises after fighting with a lula lula-loving woman over non-payment first appeared on My Zimbabwe News.

KARIBA — The Lake Kariba ferry disaster has left Zimbabwe with two emergencies: the search for bodies and survivors, and the search for a reliable account of who was on board. The ferry capsized on Tuesday near Long Island while travelling from Kariba town towards Chalala Fishing Camp. By the time of that report on […]

The post How 30 people are still missing: A second disaster after the Kariba ferry sinking accident first appeared on My Zimbabwe News.

Source: Engagement drive fosters partnerships – herald

Debra Matabvu

Senior Reporter

ZIMBABWE will keep pursuing its engagement and re-engagement policy to strengthen economic, cultural and bilateral ties with countries across the globe, President Mnangagwa has said.

Posting on his microblogging platform, X, following separate credential presentation ceremonies for the incoming Nigerian Ambassador to Zimbabwe, Mr Phillip Kuroghobogha Ikurusi; the Swiss Ambassador-designate, Mrs Christine Schraner Burgener; and the Dominican Republic’s incoming Ambassador, Ms Erika Alvarez Rodriguez, President Mnangagwa said Zimbabwe remained committed to strengthening relations with the international community and fostering mutually beneficial partnerships.

“Today at State House in Harare, I received Letters of Credence from three newly-appointed Ambassadors to the Republic of Zimbabwe,” President Mnangagwa said.

“As we advance our engagement and re-engagement policy, Zimbabwe remains committed to being a ‘friend to all and an enemy to none,’ opening our doors wide for economic, cultural, and bilateral cooperation.

“I am pleased to formally welcome to Zimbabwe: H.E. Phillip Kuroghobogha Ikurusi, Ambassador of the Federal Republic of Nigeria, who pledged to prioritise and strengthen our long-standing, historic African diplomatic and trade relations.

“H.E. Mrs Christine Schraner Burgener, Ambassador of the Swiss Confederation (Switzerland), as we look forward to deepening our strategic partnerships in development, innovation, and commerce.

“H.E. Ms Erika Alvarez Rodriguez, Ambassador of the Dominican Republic, marking an exciting chapter of expanded cooperation, trade, and economic diplomacy between our nations.

“We look forward to highly productive tenures for all three envoys as we build mutually beneficial partnerships.”

Speaking after meeting President Mnangagwa, the incoming Nigerian Ambassador to Zimbabwe said his main priorities during his tenure will include strengthening bilateral ties between the two countries.

“Nigeria and Zimbabwe enjoy warm and long-standing relations, founded on shared historical experiences, mutual respect, and strong people-to-people connections,” Ambassador Ikurusi said.

“As Ambassador, my priority will be to further strengthen these relations and identify new areas of cooperation that will deliver tangible benefits for both our people.

“I look forward to working closely with the Government of Zimbabwe, the diplomatic community, the private sector, civil society, and most importantly the people of Zimbabwe, to deepen our bilateral cooperation.”

He said there is significant potential for greater collaboration in areas such as trade and investment, agriculture, education, tourism, culture, youth development, security and technology, among other sectors.

Swiss Ambassador Mrs Burgener said she will work on ensuring more companies from her country invest in Zimbabwe.

“Already we have an excellent relationship, a really fond friendship, and we would like to continue this cooperation in partnership with openness,” she said.

“We will continue on all the issues we are already working on together, and I will see where we can enhance even on those issues. We have quite a lot of Swiss companies already existing here in Zimbabwe and clearly I would invite more enterprises from Switzerland.

“I also think the double tax agreement, which we concluded, will be a very important tool to attract more economic relations between the two countries.”

The incoming Dominican Republic Ambassador to Zimbabwe, Ms Erika Alvarez Rodriguez, said during her tenure she will focus on increasing bilateral relations between the two countries.

“We are looking at specific areas such as tourism, mining, women’s empowerment, and agriculture. As you know, the Dominican Republic is a leader in the Caribbean and the tourist sector.

“We received 11.6 million tourists last year, and we can offer cooperation to Zimbabwe in the tourist sector, and also learn from you about your experience in wildlife and conservation.”

Later on, President Mnangagwa met outgoing Canadian Ambassador to Zimbabwe, Mr Adler Aristilde, who bade farewell to him after a three-year tour of duty.

The two reflected on the two countries’ bilateral relations.

Briefing journalists soon after their meeting, Ambassador Aristilde said their discussion centred on several issues, including the boat ferry disaster that claimed scores of people’s lives in Kariba.

They also discussed Zimbabwe’s election as a non-permanent member of the United Nations Security Council and the country’s economic trajectory, which he said was encouraging.

“I just had a very warm and positive farewell conversation with His Excellency the President and I started by conveying condolences from me and from Canada to the Zimbabwean people following the tragic boat accident that happened earlier this week on Lake Kariba and we are encouraged by the Government’s efforts to address maritime safety and water safety issues in Zimbabwe once and for all,” said Ambassador Aristilde.

He said Zimbabwe’s economic trajectory was impressive.

“We mentioned the progress in the Zimbabwean economy, which has been growing at a rate of 6 percent last year, projected at 5 percent this year. We mentioned the macroeconomic reforms that are taking place, the debt and arrears clearance process that is evolving and the recent election of Zimbabwe for a non-permanent seat at the UN Security Council and expressed Canada’s readiness and willingness to collaborate with Zimbabwe to contribute to global governance and global peace,” Ambassador Aristilde said.

He said he was leaving Zimbabwe at a time when the two countries’ relations were good, given that there was collaboration in many areas, including sports where the two countries played cricket and rugby.

“We saw Canada’s cricket team being invited by Zimbabwe Cricket last year to play a tournament. Zimbabwe’s rugby team was in Canada last month, playing in a rugby competition. We have more Zimbabwean students going to Canada to study. We have Canadian graduates coming here for internships and strengthening Canada-Zimbabwe cooperation. Canadian businesses are coming here. We had an important business conference in 2024,” Ambassador Aristilde said.

Zimbabwe and Canada enjoy warm bilateral relations after setting up diplomatic ties in 1980 when Harare attained independence.

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