Just to clarify for anyone wondering, the PPSA does NOT need to go through Parliament. It’s an executive-level agreement handled through the relevant government ministries and agencies.
Here’s the general process:
Negotiation and Drafting: This part is done. IVZ has confirmed the terms have been agreed with the government.
Legal Review: The agreement went to the Attorney General’s office. This was flagged as being in the final stages back in April.
Consolidation: IVZ recently confirmed that the PPSA and PEDPA are being combined into a single agreement. This likely added a bit of admin overhead, but it streamlines execution moving forward.
Executive Sign-Off: Once the legal and ministerial reviews are finalised, it goes to the executive, most likely directly to the presidential office, for sign-off. Ideally with a bit of pomp and ceremony: champagne bottles, fireworks, jets overhead, and a big
@Stinkyfatwhale paraded through the streets of Harare.
Gazetting: Final step is for the signed agreement to be published in the Government Gazette, giving it formal legal standing.
Based on the latest updates, we’re now in the final legal and admin stages. The heavy lifting is done, and we’re just waiting on the green light. Personally, I think we’ll see it signed in the next 1 to 2 weeks (maybe optimistic). The Zim gov and MIF knows that spudding Musuma-1 is key to maintaining momentum and credibility, as well as protecting their underwriting at the 10c raise. Once it’s signed and gazetted, the path clears for JV execution and field activity. Musuma-1 drilling, 3D seismic, and flow testing all start rolling from there.
Cue the blue Lambo.
