JAMIE CARR: Anglo American’s black hole
Minas-Rio has been a litany of woes ever since Anglo took it on
For all its manifold attractions, Zimbabwe has been wallowing at the bottom of the list of investment destinations in recent decades as the effect of Robert Gabriel Mugabe’s increasing eccentricity brought the economy to its knees. The old man’s retirement package may have brought splutters of indignation to many struggling to get by on fewer than 21 household staff, but at least he’s gone, and President Emmerson Mnangagwa has been on a charm offensive, with free and fair elections promised and a message going out that Zimbabwe is open for business. There may be some who point to Mnangagwa’s track record and say they’ll believe in reforms when they see them. But confidence is rising and this will be good news for a company such as Brainworks, which has a selection of fingers in many of the country’s more appealing pies. The group’s major assets are its hotels, including the iconic Victoria Falls Hotel and the Monomotapa in Harare, and it is well placed to benefit from the uptick in ...
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