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Zimbabwe courts investors with US$200m Vic Falls bond

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NEW YORK – Zimbabwe will seek to raise US$200 million in a debut domestic United States dollar bond sale on its stock exchange in Victoria Falls that trades exclusively in foreign currency, according to Finance minister Mthuli Ncube.

“We may have it in small tranches, rather than a single big issuance,” Ncube said in an interview from New York, where he is on a roadshow to attract investment into the southern African nation.

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“We might put it in US$30 million tranches of about six issuances.”

Zimbabwe is targeting a yield of six percent to nine percent on the bonds, he said Wednesday on Bloomberg Television.

Yield-hungry investors in frontier markets are interested in the offering, the minister said.

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Earlier this month, Bloomberg reported that the bond sale would be for US$100 million.

In August, Ncube said a debt offering could help meet the cost of a US$3.5 billion compensation bill the country is facing after it reached an agreement with White farmers evicted from their land two decades ago.

The so-called “Zimbabwe Global Investor Roadshow” has seen Ncube travel to South Africa and Dubai to court foreign investment.

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In New York, Ncube will also meet with officials from the International Monetary Fund and the World Bank, ahead of an IMF visit to Zimbabwe that’s expected next month.

The government has been building up a track record of repaying its foreign debt by making token payments to creditors including the Paris Club, Ncube said.

The country defaulted on payments to the World Bank, the IMF and other multilateral lenders two decades ago.

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The IMF is expected to make a decision on a new staff-monitored programme for Zimbabwe later this year, according to Ncube.

The IMF in February 2020 abruptly ended the program saying it had “gone off track.”

The Victoria Falls Stock Exchange also known as “VFEX” was launched a year ago and last week signed a pact with the United Arab Emirates to possibly establish a gold exchange. Ncube sees the exchange helping “deal with gold smuggling and arbitrage,” as well as advertising Zimbabwe’s mineral resources.

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A cryptocurrency listing on the VFEX in future is also a possibility.

“We are trying to figure out how to invest in it as an asset class,” he said. The government has no plans to use crypto as a transaction currency, Ncube added.- Bloomberg

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National

Zimbabwe makes gains against TB

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BY WANDILE TSHUMA

The World Health Organization (WHO) data show that Zimbabwe continues to make measurable gains in its fight against tuberculosis (TB).

According to the Global Tuberculosis Report 2025, Zimbabwe’s estimated TB incidence has declined to 203 per 100,000 population, representing a 3.8 % reduction from 2023. The report states that “TB incidence in Zimbabwe has fallen to 203 per 100 000, a 3.8 % reduction from 2023.” 

On treatment outcomes, the country’s overall success rate for all forms of TB has improved to 91 %, up from 89 % in 2023. The report quotes: “Treatment success for all forms of TB has improved to 91 %, up from 89 % in 2023.” 

For drug-resistant TB (DR-TB), progress has also been recorded: treatment success rose from 64 % for the 2021 cohort to 68 % for the 2022 cohort. As the report notes: “treatment success for drug-resistant TB increased from 64 % for the 2021 cohort to 68 % for the 2022 cohort.” 

In the critical sphere of TB‐HIV co-infection, Zimbabwe saw a drop in the co‐infection rate to 49 %, down from 51 %. The report states: “TB/HIV co-infection rates have fallen to 49 %, down from 51 %.” 

Zooming out, the 2025 global report shows that across the world TB is falling again, although not yet at the pace required to meet targets. Globally, incidence declined by almost 2 % between 2023 and 2024, and deaths fell around 3 %. 

However, the report warns that progress is fragile. Funding shortfalls, health-system disruptions (especially during the COVID-19 era), and the ongoing challenge of drug-resistant TB threaten to erode gains. The WHO page reminds that the 2025 edition “provides a comprehensive … assessment of the TB epidemic … at global, regional and country levels.” 

For example, although more people are being diagnosed and treated than in previous years, not enough are being reached with preventive interventions, and many countries are still far from the targets set under the End TB Strategy.

 

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National

Government extends Victoria Falls Border Post operating hours to 24 hours

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BY WANDILE TSHUMA

The government has officially extended the operating hours of the Victoria Falls Border Post to a full 24-hour schedule, according to an Extraordinary Government Gazette published on Thursday.

The change was announced under General Notice 2265A of 2025, issued in terms of section 41 of the Immigration Act [Chapter 4:02]. The notice states that the Minister of Home Affairs and Cultural Heritage has approved the extension with immediate effect from the date of publication.

The Gazette declares:

“It is hereby declared that in terms of section 41 of the Immigration Act [Chapter 4:02], the Minister has extended the operating hours for the Victoria Falls Border Post to twenty-four (24) hours on a daily basis, with effect from the date of publication of this notice.”

The move is expected to boost tourism, trade, and regional mobility along one of Zimbabwe’s busiest tourist corridors, which connects the country to Zambia and the broader SADC region.

Stakeholders in tourism and logistics have long advocated for extended operating hours, citing increased traffic through Victoria Falls and the need to align with neighbouring countries that already run round-the-clock border operations.

 

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Zimbabwe moves to establish tough drug control agency amid rising substance abuse crisis

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BY NOKUTHABA DLAMINI

As Zimbabwe battles a surge in drug and substance abuse, the government has tabled a new Bill in Parliament seeking to establish a powerful agency to coordinate enforcement, rehabilitation, and prevention programmes across the country.

The National Drug and Substance Abuse Control and Enforcement Agency Bill (H.B. 12, 2025) proposes the creation of a dedicated agency mandated to combat the supply and demand of illicit drugs, provide rehabilitation services, and strengthen coordination between law enforcement and social service institutions.

According to the explanatory memorandum of the Bill, the agency will operate under two main divisions — a Social Services Intervention Division to focus on prevention, treatment and community rehabilitation, and an Enforcement Division to target supply chains, trafficking networks, and related financial crimes.

The legislation describes drug abuse as “a grave internal national security threat” and “a public health crisis” that fuels organised crime, corruption and violence. It notes that drug profits have enabled criminal cartels to “purchase the instrumentalities of crime, including weapons,” and to corrupt both civilian and non-civilian public officials.

Under the new framework, the agency will have powers to:

  • Investigate and arrest individuals involved in drug trafficking and production;
  • Work jointly with the Zimbabwe Republic Police, Zimbabwe Revenue Authority, and Medicines Control Authority of Zimbabwe;
  • Establish checkpoints at ports of entry and exit to intercept harmful substances; and
  • Expand the legal definition of “harmful drugs” to include emerging synthetic substances, in consultation with the Medicines Control Authority of Zimbabwe.

The Social Services Division will lead prevention campaigns, develop demand-reduction programmes, and facilitate the creation of rehabilitation and detoxification centres nationwide. It will also introduce a monitoring system requiring schools, employers, and local authorities to adopt anti-drug awareness and intervention programmes within 90 days of the Act’s commencement.

Each province and district will host offices of the agency to decentralise services and ensure community-level engagement, while traditional leaders will help devise local prevention strategies.

The Bill further empowers the agency to employ prosecutors from the National Prosecuting Authority to handle drug-related cases, signalling a shift toward specialised prosecution of narcotics offences. It also introduces a new, stricter “standard scale of fines” and penalties for drug crimes — higher than those prescribed under existing criminal laws.

In a major development, the proposed law integrates the agency into Zimbabwe’s Money Laundering and Proceeds of Crime Act, allowing it to pursue unexplained wealth orders and seize assets linked to drug cartels.

The Bill stresses rehabilitation and social reintegration as key pillars. It obliges the agency to support affected individuals through psychosocial counselling, vocational training, and community wellness programmes aimed at helping addicts rebuild their lives.

If passed, the National Drug and Substance Abuse Control and Enforcement Agency will replace fragmented anti-drug efforts currently scattered across ministries and law enforcement agencies, creating a central authority to drive national strategy and coordination.

Parliament is expected to debate the Bill in the coming weeks amid growing concern over youth addiction to crystal meth, cough syrups, and other illicit substances that have taken root in both urban and rural communities.

 

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