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Caledonia Mining to issue more shares in Victoria Falls Stock Exchange debut

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BY NOKUTHABA DLAMINI 

Giant gold miner, Caledonia Mining Corporation (CMC), says it will increase a planned capital raising because of an overwhelming response to its listing on the Victoria Falls Stock Exchange (VFEX).

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Caledonia said it will now raise US$7.96 million from the issue of approximately 630 000 new shares at an offer price of US$12.64 per depositary receipt.

The proceeds of the offer would be used for general corporate purposes in Zimbabwe, the company said.

Steve Curtis, the Caledonia chief executive officer, said the capital raising will attract more investors.

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“The support from Zimbabwe investors has been extremely encouraging and reinforces our belief that this listing is an important milestone, welcoming new shareholders, with a mutual desire for investment in Zimbabwe and who have not, until now, been able to participate in Caledonia’s growth journey,” Curtis said.

“The VFEX listing will also enable Caledonia to progress with its next phase of development.

“The access to 100 percent US dollar revenue for incremental gold sales will assist Blanket, and any other new mine Caledonia develop, and will attract investors who are confident that Zimbabwe is a competitive investment environment capable of delivering attractive returns.”

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Curtis said the VFEX listing highlighted the company’ s continued commitment to Zimbabwe.

” We are excited about this and the next stage, and I would like to thank everybody for their continued support,” he added.

Caledonia said as announced on July 8, 2021, one of the benefits of a listing of depositary receipts representing the ompany’s shares on the VFEX was an improvement in the proportion of the revenues received in US dollars for gold produced at the company’s majority owned Blanket Mine.

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“The company looks forward to benefitting from this development going forward,” Curtis said.

“The admission of new shares, listing and dealings are expected to occur on or about December 2, 2021.”

Caledonia will announce the exact number of new shares, and depositary receipts, to be issued once subscription monies have been deposited and formalities have been completed in the next few days.

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“Once the securities are issued, the company’s depositary in Zimbabwe will liaise with the VFEX to have the depositary receipts admitted to electronic trading in Zimbabwe and dealings will commence,” it said.

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National

Doctors slam delays in using sugar tax funds for cancer treatment equipment

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BY WANDILE TSHUMA 

The Zimbabwe Association of Doctors for Human Rights (ZADHR) has expressed concern over the government’s continued delays in disbursing funds from the Sugar Tax meant for the procurement of cancer treatment equipment.

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In a statement released yesterday , ZADHR said it was deeply worried by the slow pace of progress, two years after the introduction of the levy that was expected to finance the purchase of essential medical equipment for cancer patients across the country.

According to the association, by November last year, the Ministry of Finance and Economic Development had confirmed collecting US$30.8 million through the sugar tax — a surcharge imposed on sugary drinks and beverages. However, no disbursement had yet been made to the Ministry of Health and Child Care for the intended purpose.

“This delay undermines the purpose of the Sugar Tax, which was intended to improve public health outcomes through targeted investment in non-communicable disease management, including cancer prevention and treatment,” ZADHR said.

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Zimbabwe currently bears one of the highest cancer burdens in Southern Africa, with an age-standardised incidence rate of 208 per 100,000 people and a mortality rate of 144 per 100,000, according to Globocan 2022 data. These figures surpass those of neighbouring countries such as South Africa, Namibia, Zambia, and Botswana.

The association warned that the government’s inaction continues to worsen the plight of thousands of patients who face long waiting lists and limited access to treatment.

“The country records over 17,700 new cases and nearly 12,000 deaths annually, largely due to late diagnosis and inadequate treatment capacity,” read the statement. “This growing burden strains Zimbabwe’s fragile health system, escalates household health expenditures, and undermines productivity.”

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ZADHR called on the Ministry of Finance to urgently release the collected funds and for the Health Ministry to ensure transparent procurement and installation processes once funds are received.

The association also urged the Ministry of Health to build technical capacity among staff to maintain and effectively utilise the new equipment once installed.

“Equitable access must be at the centre of this rollout. Beyond the main Central Hospitals, provincial and district centres should also benefit to ensure no patient is left behind,” ZADHR added.

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National

Calls grow for probe into mysterious sudden deaths in Victoria Falls

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BY NOKUTHABA DLAMINI 

Concerns are mounting in Victoria Falls over a reported rise in sudden deaths, with local legislator Vusumuzi Moyo, Member of Parliament for Hwange West, calling for an official probe into what he described as an “alarming trend” of people collapsing and dying unexpectedly.

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During a Parliamentary session on 1 October, Moyo asked the Minister of Health and Child Care, Dr. Douglas Mombeshora, whether the ministry had conducted any research into the increase in such cases. In his response, the Minister said no study had been carried out and that the government had no statistical evidence supporting the reports.

However, speaking to VicFallsLive, Moyo said he raised the issue in Parliament after witnessing and hearing of multiple sudden deaths within the resort city.

“We’ve seen several people who were perfectly fine suddenly collapse and die,” said Moyo. “Two of them were in the tourism industry, and another was a council worker who had just come from night duty. She swept her yard, suddenly felt unwell, and passed away soon after. These are just some of the cases we’ve encountered.”

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Moyo expressed disappointment that the Ministry did not show intent to investigate further, saying he had hoped the Minister would direct provincial or district offices to look into the issue.

“Unfortunately, when the question came up, I was not in the House to follow up,” he said. “But I believe this needs to be pursued. The media and health authorities must take it up so that the executive can act. We cannot be silent when people are dying in such an unusual fashion.”

Moyo also revealed that he had spoken with a local private medical officer, who expressed willingness to support any research effort aimed at uncovering the causes behind the deaths.

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“He told me this might not just be confined to Victoria Falls—it could be a national issue. We’re hearing of similar incidents across the country,” Moyo said.

Local health practitioners and residents have echoed similar concerns, citing an apparent rise in cases of people collapsing at workplaces or at home. While no conclusive evidence has linked the deaths to any particular health condition or environmental factor, the trend has prompted renewed calls for community health surveillance and public awareness on preventive care and early health checkups.

As Zimbabwe continues to grapple with strained health infrastructure and limited diagnostic capacity, Moyo says the issue underscores the need for stronger public health data collection.

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“Without statistics, we cannot know what’s really happening,” he said. “This is a matter of life and death, and the Ministry should be proactive.”

 

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VicFallsLive editorial policy

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Preamble:

As VicFallsLive and its staff, we commit ourselves to the highest standards of independent journalism.  We serve the public’s right to know in line with Section 20 of Zimbabwe’s donstitution which guarantees this fundamental right in order to allow citizens to make informed decisions and judgments about their society. We pledge to exercise our role with care and responsibility to safeguard public trust in our integrity.

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1.  Accuracy & sourcing

Our first duty is to report accurately. We will take care to evaluate information provided to us and to cross-check it as much as possible before publishing. We will show readers the chain of evidence we have.

1.1 The more serious and controversial a claim is, the more corroboration will be required before it can be published. A single source will not usually be sufficient. Secondary sources like other newspaper reports will be treated with caution, and clearly identified.

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1.2 Anonymous sources will be avoided unless there is no other way to handle a story and there is extensive additional evidence available. Where sources cannot be named, they will still be identified as closely as possible by reference to their organisation, position, relevance to the story or similar safeguards.

1.3 Anonymity will only be granted if the source can persuade us that they have sound reasons for the request. It is not available to people peddling rumour, comment or spin. However, once it has been granted, the newspaper will protect the identity of the source.  

1.4 We will take particular care with information that is passed on to us in furtherance of a particular agenda, and will seek additional corroboration in the light of the motives and interests of a source.

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1.5 Plagiarism will not be tolerated.

1.6 Headlines, captions and posters will fairly reflect the content of articles.

1.7 Special care will be taken with details like numbers, dates, names and words from languages other than English.

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2. Fairness

We will treat the sources and subjects of our reporting fairly, making sure they have a full opportunity to respond to reporting that may affect them.

This means actively seeking out all relevant views and giving people sufficient time to formulate a response. A report can only go ahead without relevant responses if the opportunity to comment has been declined, or if the editor is satisfied that all reasonable measures have been exhausted. In this case, the situation will be explained to readers.

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3. Independence

Our journalistic duty to inform the public trumps all other considerations, whether they are financial, political, personal or any other non-professional interests. This includes the business interests of the platform itself. We will avoid conflicts of interest as well as the appearance of conflicts of interest.

3.1 Editorial material will be kept clearly distinct from advertising or any paid-for content. Any outside support for editorial work, such as through sponsored travel, will be declared in the relevant report.

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3.2 Gifts, favours and freebies will be handled in accordance with the platform‘s policy, which is designed to underline that our goodwill cannot be bought through these means.

3.3 Journalists may only take on outside paid work if it does not impact on their primary responsibilities or create a perception of a conflict of interest, and then only with the permission of the editor.

3.4 Journalists will bear in mind that their private activities can impact on their and the platform‘s reputation. This extends to opinions expressed on public or semi-public social networking platforms.

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4. Minimising harm

We recognise that the media can have a harmful impact on the subjects of our reports, our sources, our audiences and society in general, and pledge to minimise it. We will take particular care when dealing with vulnerable people and groups.

4.1 We will not fuel racism or racist stereotypes and will not tolerate any form of hate speech. However, we will not shy away from reporting issues involving race.

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4.3 We will avoid racial labels unless they are essential to understanding. Similarly, we will avoid other labels that may feed into social prejudices of various kinds, around religion, culture, gender, sexual orientation, HIV status and many others. We will be careful to avoid anything that fuels xenophobia.

4.4 We will take note of social sensitivities around religion, death, the portrayal of nudity, sex and violence, the use of strong language and others. We will not offend these sensitivities gratuitously.

4.5 Any infringement of an individual’s privacy – a right guaranteed by law – must be fully justified by a clear and strong public interest. It must be carefully considered, and proportionate to the level of public interest. We recognise that people in positions of importance or who have sought a life in the public eye have a reduced right to privacy and indeed require greater scrutiny.  

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4.6 We will take great care to avoid the possibility of direct harm to a source.  Where this seems possible, extra steps will be taken to make sure the source understands the dangers and gives informed consent, and steps to mitigate the danger are put in place.

4.7 We will take particular care to avoid harm to children.  While it is important to seek out the views of children, we will not do anything that may expose them to abuse, discrimination, retribution, embarrassment or any other risk. We will make sure that we consult with a parent or guardian about any impact our reporting may have on the child. We will not use sexualised images of children.

4.8 We will take great care when publishing pictures of children, the disabled, and people in difficult circumstances.

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4.9 We will avoid wherever possible publishing photos of corpses or other gruesome pictures which readers may deem offensive. Publication of such photos will only be done when there is a compelling reason to do so.

5.  Reporting methods

We will use open, honest means to gather information. Exceptions can only be made when there is strong public interest in a story and there are no alternative methods available.

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5.1 We will identify ourselves as reporters to potential sources.  We respect the law, and our reporters are required to have a good understanding of relevant legal provisions.  

5.2 We will respect off-the-record and similar arrangements.  Agreements with sources must be clear, and are binding on the newspaper and its journalists.

5.3 We do not pay for information.

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5.4 We do not allow sources to vet our reports before publication. Sometimes, however, it is advisable for reporters to check back to ensure the accuracy of technically complex information, quotes and the like.

5.5 We will keep detailed records of all interviews we conduct, either in note form or preferably as a recording.  

6. Accountability

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We accept the same level of public scrutiny and accountability as we subject others to. At all times, responses to complaints will be generous, helpful and governed by the need to make sure readers get the fullest information available.

6.1 We will correct errors with due prominence as soon as we become aware of them. Errors online will not be invisibly corrected. Instead, a note with the correction will be posted with the original article.

6.2 In addition to corrections of factual errors, the platformoffers the following corrective measures:

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A clarification, where an article may have led to a mistaken impression even though it does not contain factual mistakes;
A right of reply, where a full response was not initially included;
An apology; where justified.

These measures can be used in conjunction, and are at the editor’s discretion.

6.2 We accept the jurisdiction of the Voluntary Media Council

7. General

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7.1 VicFallsLive reviews of artistic work are written fairly, in order to help readers decide what to see and how to understand it. They do not offer an opportunity to degrade or humiliate.  

7.2 Columnists and commentators are expected to write fairly and honestly, but this does not suggest a bar on strongly opinionated writing. Fact and opinion will be clearly distinguishable.  The platform will seek out a wide range of views, including particularly voices not often heard.

7.3 The platform will encourage readers’ involvement in discussion through the feedback on social media pagesetc. Criticism of the platform and its approach is welcome, but basic standards of decency will be enforced.

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7.4 This code applies to all staff. Where there is doubt about how to proceed, journalists must take advice from section heads or the editor.

: Gifts, freebies and outside interests policy

This policy is designed to manage the issue of gifts and freebies, in order to avoid an impression of conflicts of interest impacting on the reputation of VicFallsLive and its staff.

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1. Gifts and freebies:

1.1 In general, staff are not allowed to accept gifts with a value of over $20.

1.2 Gifts can include cash, items of value, loans, travel, hospitality or other things.  Where they are offered for review purposes, tickets to events, books, computer games or similar are not seen as gifts.

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1.3 Where practicable and where it would not cause offence, a gift should be returned promptly and with a polite explanation.

1.4 PR handouts that come into the newsroom or to individual journalists must be handed to the managing editor.  From time to time, s/he will organise an auction in the newsroom, and the proceeds will be donated to a charity.

1.5 An offer of funded or subsidised travel or hospitality for an editorial purposes can only be accepted with the permission of the editor, who will decide which reporter will take up the offer. Such offers will only be accepted if there is a legitimate news story to write, which the paper otherwise would not be able to afford to cover. Where such an offer is accepted, a note at the end of the report will explain the situation.

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1.6 A staffer may not solicit free or discounted food, drink, gifts or similar benefits on the basis of his or her employment as a journalist.

2. Register of interests:

2.1 The managing editor will be in charge of a register of interests, where all editorial staff are required to declare any outside interests, including but not limited to:

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Outside work;
Shareholdings;
Family involvements in business;
Organisational memberships.

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