VENTURE CAPITAL POST

The Zimbabwe government will now take control all of the mining fields in the country as the state is being robbed of its wealth. Billions of dollars have been stolen from the nation's treasure chest because of smuggling and swinding according to President Mugabe.

Farmer Kenny Mabvumbe looked upset as he returned virtually empty-handed from the tobacco auction floors in the Zimbabwean capital of Harare.

Bloomberg Philanthropies invested $5 million in solar powered Little Sun to give those populations in the African region less expensive, clean light from the kerosene lamps they have been using.

Former Whyte & Mackay chief Vivian Imerman grabbed a majority stake in South Africa-based spirits firm TNB through his own company Vasari for an undisclosed sum to expand his portfolio of liquors and spirits.

The private equity arm of London-based banking firm Standard Chartered picked up a 13% stake in Botswana-based supermarket chain Choppies Enterprises in a deal valued at $6 million.

Namibia Power Corp (NamPower) plans to raise NAD5 billion (USD496 million) to fund the expansion of its transmission networks and power generation over the next five years, according to the firm's managing director.

Citing a draft of the fund, a report from Bloomberg said the planned Sovereign Wealth of Zimbabwe may obtain a portion of the country's share of mining revenues.

A Chamber of Mines report said with enough investment and stable mining policies, South Africa could compete with Russia for the recognition as the second largest platinum producer.

ZMDC is considering getting listed at the Zimbabwe Stock Exchange, said the mines minister.