Story by Tichaona Kurewa
ZIMBABWE’S corporate rescue reforms are driving renewed growth in the coal sector, with the framework introduced under the Insolvency Act of 2018 credited for boosting employment in Hwange.
The Corporate Rescue Framework, which replaced the old judicial management system, is designed to help distressed firms restructure and recover rather than collapse, forming part of broader efforts to build a resilient and self-sustaining economy.
Coal miner Makomo Resources is among the beneficiaries, having exited corporate rescue in March last year. Since then, the company has created more than 500 jobs, providing a significant economic boost to local communities.
Employees say the opportunities have improved livelihoods and skills.
“Working at Makomo Resources has really changed my life… I can now provide for my family and pay school fees,” one worker said.
Another added: “It’s not just about earning a salary; it’s about growth… I’ve been trained in areas I never had experience in before.”
General Manager, Mr Kuda Nyabonda, said the company could expand further as production rises.
“The number can increase if production also rises; it could even double… we are also creating employment within the community,” he said, noting that workers are being drawn from nearby settlements, including Shangano Village, and that women are now participating in underground operations.
The revival of the coal sub-sector in Hwange has been reinforced by the turnaround of Hwange Colliery Company and increased investor interest, positioning the industry as a key driver of regional economic growth.
