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Trade Winds weekly update volume 11

ZSE suspends operations, The Zimbabwe Stock Exchange advised that all operations have been suspended until further notice.

“Whilst we await the guidance from our regulators on the operational modalities going forward, we notify our stakeholders that trading has been suspended until further notice.” – statement issued by the Secretary for Information.

Brokers have been scrambling to find reasons to inform investors as to why their money has disappeared.

On a positive note, experts have advised that Zimbabwe can significantly narrow its debt if the country manages its vast natural resources in a sustainable manner although the COVID-19 pandemic has worsened Zimbabwe’s debt deficit.

Studies have shown that Zimbabwe holds 13million tonnes of Gold, 2.8 Billion tonnes of Platinum and 16.5million carats of Diamonds just to name a few precious resources.

Dr Moyo said, “with this natural wealth, the country could harness it for development without overly relying on erratic external flows”.   

Kopfontein delays continue, Freight flow at the Skilpadshek border is still taking a knock from COVID related issues, the border which is a vital access point connecting South Africa to Botswana and Namibia is facing continued delays as the Botswana health authorities continue with their inflexible coronavirus testing measures for all truck drivers entering the country which requires the drivers to wait up to 72hours for their results.

 Mike Fitzmaurice, chief executive of the Federation of East and Southern African Road Transport Associations (Fesarta) said that it doesn’t look like the situation is going to change anytime soon.

“Restrictive testing is a real problem at the border, using Kopfontein for alternative access into Botswana because it’s not as busy as Skilpadshek is also still inconvenient because a lot of trucks have to head back south towards the TAC once they have passed through the border.” Fitzmaurice said.

Further South, ATDF (The All Truck Driver’s Foundation) has denied that its organisation disrupted transport on South African roads and intimidated truck drivers, footage has emerged of two cars sporting ATDF banners, parked on the yellow chevron section of the Key Ridge compulsory truck stop between Marianhill Toll Plaza and Pietermaritzburg.

Sifiso Nyathi the national secretary of ATDF said they were just asking for donations from drivers to boost the struggling organisation’s coffers.

The Federation of East and Southern African Transport Associations (Fesarta) said: “There is a car with an ATDF banner stopping and checking trucks looking for foreign drivers, please be alert”

Nyathi rubbished these reports by saying “We weren’t stopping the truck. There is no stop street on the highway. We were only asking for money.”

It’s not the first time that the ATDF has been accused of intimidating truck drivers, especially on the N3 where scenes of violent arson attacks over the past few years, apparently in opposition to foreign nationals working in South Africa’s road transport sector, have sparked wide-scale xenophobic unrest, claiming lives, destroying property and making headlines the world over.

Assistance for Cape Town Port, twenty specialised employees from Durban Container Terminal have volunteered to assist with delays at Cape Town Port, the teams consists of driver articulated vehicles, rubber tyre gantry cranes and ship-to-shore crane drivers boasting over 100 years of collective work experience.

“Both the container and multi-purpose terminals at the Port of Cape Town have been operating at reduced capacity since the introduction of the lockdown regulations.

“However, with the easing of the lockdown, port activities have increased. The container terminal is currently operating at 60% and the multi-purpose terminal at 75% capacity.

“The portside, which is responsible for marine operations, is only operating at 60% human resource capacity, but is able to offer full marine services. Transnet added.

The team will assist in improving cargo movement and extra staff availability.

Acting chief operations officer at Transnet Port Terminals, Velile Dube, said: “Despite all the challenges, we have been able to reduce the number of vessels waiting at anchorage from 11 to five vessels today.

“We have managed to increase the number of gangs from four to five and are now receiving additional staff to help with shifts.”

Cape Town Port seems to be the only port battling with cargo movement, as the City continues to feel the effects of COVID mainly due to it being the epicentre of South Africa’s outbreak.

Settling the debt, one of Zambia’s major copper mines has committed to pay K8 million out of the K58 million it owes the Kitwe City Council.

On Wednesday afternoon, bailiffs paid the Mine a visit in trying to recover debt owed to the local authority, Copperbelt security rushed to the mine in a-bid to intercept the bailiffs but later all 3 parties entered a closed-door meeting.

Journalists were later addressed and were advised that an agreement had been reached on how the debt will be settled.

“The status is that the amount is K58 million. We have negotiated to pay in instalments and today (Wednesday), the mine will pay K8 million and the rest will be paid in instalments. That is the position,” Nundwe said.

“We must be willing to let go of the life we planned so as to have the life that is waiting for us”

Trade Winds weekly update volume 6

Chaos ensues at the Beitbridge border post as the closure of Botswana’s border post mounts huge pressure on the ZIMRA clearing system which is also understaffed for such volumes.

Developing reports are showing that there is a double lane queue that is roughly 12 Kilometres long, drivers are crossing over to Zimbabwe without having received their Zim Notification and are being fined which itself is adding pressure to the whole ordeal.    

Truck drivers headed towards Botswana face stringent COVID-19 measures, the usual three days allowed to enter the country has been slashed down to just one day.

  According to Freight News, “the Presidential Task Team on Covid-19 has directed that, with immediate effect, all truck drivers entering Botswana will now be required to produce evidence of negative Covid-19 results that are not more than 72 hours old, if your test results come in after 48 hours you then have one day to transit into Botswana.”

“So, if you’re stuck in a queue with all the drivers waiting for their results, your valid test will no longer be considered in Botswana and you would need to be tested again.” Said one transporter.

Growing queues at the Beitbridge border post

Nakonde re-opened, President of Zambia, Edgar Lungu announced on Friday that the Nakonde border be re-opened to the movement of cargo only, President Edgar Lungu shut the border on Sunday after the town of Nakonde recorded 76 cases of COVID-19.

“Trucks from both sides have been moving, starting with those destined for Tanzania,” Malozo Sichone, the minister of Zambia’s Muchinga province, said.

Health Minister Chitalu Chilufya advised that the lockdown imposed on Nakonde town was lifted on Friday, however restrictions on movement would be in force from Saturday to allow for mass screening, the general public are still barred from crossing the border.

More woes for SA Miners, Mining Giants Harmony Gold have had to slow down production at their Kalgold Mine whilst mining has come to a standstill as two sub-contractors tested positive for COVID-19, this comes just days after positive results yielded at Marula Joint Venture, a platinum mine, and at Dwarsrivier, a chrome mine, which are both situated in the country’s Limpopo province.

CEO of Harmony, Peter Steenkamp said “Every effort is made at our mines to mitigate the impact of the COVID-19 virus,”

“Harmony will continue its routine screening and testing at the mine in line with its COVID-19 Standard Operating Procedure,” the company said.

Implats (Impala Platinum) has also temporarily suspended production after announcing that 19 employees had tested positive at their Marula plant on the weekend.

National Union of Mineworkers (NUM) has called on the Limpopo provincial government to shut mines in the province.

Namibian Ports Open, Namibia has vowed to keep its ports open to allow the movement of goods to its landlocked neighbours, this was announced after President Hage Geingob met with leaders from South Africa, Zimbabwe, Angola, Lesotho, Eswatini and Mozambique.

“Covid-19 is a global pandemic and requires coordinated regional, pan-African and global action, during this difficult period, Namibia recognises how interdependent and how interconnected we are as neighbours,” Geingob said.

“Don’t wait for your ship to come in, swim out to it.”