TANGANDA Tea Company (Tanganda) recorded a significant decline in sales volumes during the six months to March 31, 2024 as the government’s route-to-market policies inadvertently disrupted product uptake.Last year, authorities introduced new route-to-market measures in an attempt to rescue formal businesses from unfair competition by informal traders.Under the new regulations, only value added tax (VAT)-compliant…

NAMPAK Zimbabwe (Nampak) posted a 20 percent reduction in volumes during the six months ended March 31, 2025, due to lower tobacco output last year caused by drought and weaker regional demand for tobacco cases.The packaging products manufacturer is heavily exposed to the tobacco industry, through its subsidiary Hunyani Paper and Packaging, which produces corrugated…

OK Zimbabwe says discussions regarding the proposed US$30 million capital raise are at an advanced stage and are nearing finalisation.The group intends the funds to stabilise its financial position and support a broader turnaround strategy.“The company will then publish a circular to shareholders incorporating notice of an extraordinary general meeting of members for the purpose…

STEWARD Bank plans to slash staff costs to below 10 percent of revenue in the medium term as part of an ongoing restructuring program to streamline operations leveraging technology.As a result of a scheme of reconstruction with Econet Wireless Zimbabwe last year, EcoCash Holdings ceded all fin-tech units but retained the status of a bank…

…pins hope on new investors PERSISTENT plant breakdowns and perennial industrial action by staffers among other key operational challenges continue to hamper production at RioZim with hopes now pinned on a new investor set to inject US$20 million into the business.The gold producer with a small portfolio in other minerals such as chrome and diamond…

ECONET Wireless Zimbabwe (Econet) has deployed 60 fifth generation (5G) network sites across the country, a move that is set to give the operator a competitive advantage in the telecommunications sector grappling with digital infrastructure gaps.The deployment of these new sites will enable faster data speeds, lower latency, and improved network reliability.Data and internet services…

ARISTON Holdings (Ariston) says it wants to stop exporting bulk tea, which is presently selling at suboptimal prices, and instead focus on value addition and packaging for regional markets to boost margins.The decision reflects a broader trend among agricultural producers seeking to maximize returns by processing raw commodities.Ariston chief executive Leon Nortier emphasised that the…