THE late start of this year’s rainy season is causing significant anxiety among both farmers and economic experts, amid rising fears for the country’s growth prospects going into 2024. The late onset of the rains has been attributed to strong El Niño climate patterns, which are forecast to reach peak intensity as this year ends,…
CONCERNS remain over the destabilising impacts of currency volatility on the economy, with monthly inflation having shot up by two percent in November to 4,5 percent, the biggest rise since May. Year-on-year inflation for the month was 21,6 percent, compared to 17,8 percent in October. Economic analyst Prosper Chitambara said the relatively sharp rise in…
MEIKLES says its employee costs, which made up 55 percent of operating costs, increased by 169 percent during the half year ended August 31, 2023. The diversified group’s chairman, John Moxon, said during the period under review, salaries and wages were fixed in US dollars at collective bargaining forums with an option to pay in…
FINANCE minister Mthuli Ncube is expected to pay attention to the concerns of business in his national budget statement today, which comes amid a number of pending recommendations from industry and commerce. It comes as business has urged the government to make additional tax adjustments in its 2024 budget, to further improve the local operating…
THE Zimbabwe Revenue Authority (Zimra) has initiated roadblocks and mall patrols as part of measures to enforce customs laws. Smuggling is considered a major problem for the country as the Reserve Bank of Zimbabwe estimates that as much as US$1,5 billion is lost each year through illicit flows. Zimra’s spokesperson Gladman Njanji said the patrols…
COMPANIES should practise social integration of their identities for longevity and a higher return on brand equity, an expert has said. Speaking at the TBWA Brand Matters 2023 Event this Wednesday, brand strategist, David Duri said businesses without socially-integrated brands tend to be short-lived. “I think that brands that win or that last over a…
ECONET Wireless (Econet) says viable pricing of telecommunication services remains a key factor for the continued growth and sustainability of the industry. In a statement accompanying the company’s financial statements for the half year ended August 31, 2023, Econet’s chairman, James Myers, said the current volatile operating environment continued to significantly erode the benefits of…
ZIMBABWE’S trade deficit narrowed by 26,4 percent to US$69,6 million in October, as exports rose faster than imports, latest data from the Zimbabwe National Statistics Agency (ZimStat) shows. The country’s exports increased by 22,7 percent to US$831,9 million during the period. According to the Reserve Bank of Zimbabwe, the country’s average balance of trade between…
VICE President Kembo Mohadi says economic and policy think-tanks have a critical role to play in economic development by providing alternative and evidence-based policy proposals. Mohadi made these remarks as he officially opened the Zimbabwe Institute of Strategic Thinking (ZIST) annual conference in Nyanga this week. “Everyone at this conference represents the proverbial incubation hub…
NATIONAL Foods has invested US$26 million over the past two financial years, which has seen the group moving up the value chain to produce a broader range of products. The country’s largest food manufacturer said the board has also approved additional projects valued at US$15 million, which are currently at various stages of execution, most…
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