Zimbabwe central banker stockpiles gold to bolster ZiG currency
The ZiG - short for Zimbabwe gold — is the nation’s sixth attempt at having a functioning local currency in the last 15 years.
The African nation of Botswana has decided to decline an option to lift its stake in the massive diamond company De Beers, said a Mineweb report on Tuesday.
“The decision by the diamond rich country leaves Anglo American to pick up the full $5.1bn tab for the buyout of the remaining shares owned by the Oppenheimer family,” says the report.
Botswana had an option to raise its stake in the diamond company to 25% but chose not to in an attempt to curb government spending.
Read the full Mineweb report here >>