THE Central Mechanical and Equipment Department (CMED) says it plans to introduce interest rates for clients who delay payments starting next year. This comes as the state enterprise has faced financial difficulties due to delayed payments from government ministries and departments. “To mitigate against that, we will be asking for shareholder consent to reciprocate what…
THE government has announced its commitment to implementing effective policy interventions to support local industries in a bid to create a fair business environment for all sectors, with a particular focus on small and medium enterprises (SMEs). Speaking at a strategic planning workshop that reviewed past achievements and challenges, Industry and Commerce minister, Mangaliso Ndlovu,…
Prisca Tshuma Staff Writer ZIMBABWE’S trade deficit grew to US$207,6 million in September 2024, marking a 4,2 percent increase from August’s figure of US$199,1 million, according to the latest data from the Zimbabwe National Statistics Agency (Zimstat). Both imports and exports declined in the month under review, widening the deficit. A trade deficit occurs when…
THE government and the European Union (EU) have signed four agreements worth 75 million Euros (over US$80 million) to support to support agriculture, conservation and building community resilience. “Zimbabwe is grateful for the EU support, and today marks another milestone in our cooperation. The support is building upon and reinforcing the investments made under the…
HIGH-end custom cabinet maker Oppein Group says its local operations are progressing well in just two years after entering the country underpinned by a surge in demand for luxury furnishings.
ANGLO American says platinum group metals (PGMs) output at its Zimbabwean unit, Unki Mine, slightly retreated by one percent to 179 700 ounces in the first nine months of 2024 from 182 000 ounces in the comparable period last year. The marginal drop reflects Unki’s struggles to match its previous year’s performance down to operational…
DIVERSIFIED insurance firm, First Mutual Holdings Limited (FMHL) says it is in talks with potential partners to invest close to US$40 million in various projects at its flagship Arundel office park in Harare. This follows the completion of the expansion of the Arundel office park, which features a double-storey building with basement parking. The project…
THE Treasury has announced that the rules governing the operation of the Minerals Commodity Exchange have been finalised, and trading is expected to begin shortly. The exchange, which will be managed by the Victoria Falls Stock Exchange (VFEX), is set to be established in a special economic zone and will conduct its operations using the…
THE National Social Security Authority (Nssa) is set to extend social security coverage to informal workers, with plans to launch a pilot scheme in 2025 before expanding it nationwide. This move aims to address a long-standing challenge faced by developing countries — how to provide social security for informal sector workers. The country’s informal sector…
Kudzanai Gerede Companies and Markets Editor AXIA Corporation’s logistics business, Distribution Group Africa (DGA) is expected to put a strain on the group revenue for the current financial year ending June 30, 2025 (FY25) on account of widespread informalisation of the sector in Zimbabwe and foreign currency shortages in regional markets. The business has operations…
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