Hwange Units 7 & 8, well-placed sources said, were constructed on a contract based in US dollars, and private foreign investment was utilised to finance the expansion project.

Small-to-Medium Enterprises Association of Zimbabwe chief executive officer Farai Mutambanengwe said the new measures had brought in confusion in the market.

Economist Tony Hawkins said: “Retailers are now allowed to buy direct from industry and manufacturers are allowed to sell to hotels subject to tax compliance.

President Mnangagwa last week gazetted General Notice 164B of 2024, exempting 21 public entities from compliance with the Public Procurement and Disposal of Public Assets Act.

Since the start of the marketing season, the top price for premium tobacco has been constant at US$4,99 per kg, while the contract price has been hovering around US$6 per kg.

The proposed legislation seeks to establish a system where mining information would be captured in real time.

Soaring public and private debt is also preventing investors from injecting fresh capital.