COVID

ZIMBABWE EXTENDS LOCKDOWN FOR TWO MORE WEEKS AS ECONOMY SUFFERS

Posted on by Gambeta News
ZIMBABWE EXTENDS LOCKDOWN FOR TWO MORE WEEKS AS ECONOMY SUFFERS

While other African nations like Nigeria are avoiding the economic and social menace resulting from lockdown restriction, President Emmerson Dambudzo Mnangagwa is extending the lockdown in Zimbabwe. Here is a recent tweet from the president; It is with deep sadness that I today announced that lockdown in Zimbabwe has been extended for two more weeks. I know that this will be painful for many Zimbabweans and this decision was not taken without great deliberation. But…

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CONSTRUCTION COMPANIES ARE RUNNING OUT OF CASH

Posted on by Gambeta News
CONSTRUCTION COMPANIES ARE RUNNING OUT OF CASH

The effects of COVID-19 in the Construction Industry is becoming more evident, as companies start to run out of cash. This comes after Arabtec, the construction giant that was involved in the construction of the Burj Khalifa (tallest building in the world during its topping out ceremony in 2009) has announced their decision to dissolve the company. According to the company’s chairman, Waleed Al Mokarrab Al Muhairi, “In recent years,” he said, “limited liquidity in the…

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BOTSWANA’S DIAMOND GIANT BANKS ON DEEP POCKETS TO RIDE OUT COVID CRISIS

Posted on by Gambeta News
BOTSWANA’S DIAMOND GIANT BANKS ON DEEP POCKETS TO RIDE OUT COVID CRISIS

De Beers, a diamond giant in Botswana is hopeful that the festive period will see a bounce back in earnings. The first half of the year witnessed a drop in earnings by 54% as a result of the COVID-19 pandemic. This slump also affects Botswana, as government revenues are derived from dividends, royalties and taxes. For De Beers, the festive period covering Thanksgiving in the United States, Christmas, the New Year and the Chinese New…

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