ZIMBABWE will introduce a new Incentives package by the end of 2025 to encourage companies to source raw materials locally, boosting domestic industry and cutting import dependence.Industry minister Mangaliso Ndhlovu revealed this recently during the commissioning of Nestlé Zimbabwe’s US$7 million fourth roller dryer cereal plant. He emphasised the need for firms to increase their…
Third one-day international, Kia Oval West Indies 251-9 (40 overs): Rutherford 70, Motie 63; Rashid 3-40 England 246-3 (29.4 overs): Smith 64, Duckett 58 England won by seven wickets; win series 3-0…
Australian Nick Kyrgios says he will miss this year’s Wimbledon after suffering a “small setback” on his latest return from injury. Kyrgios, who was beaten in the 2022 final at the All England Club by Novak Djokovic, has played very little tennis over the past two years because of a troublesome wrist that required surgery.…
THE Agricultural Marketing Authority (AMA) is advocating for a price stabilisation fund to shield cotton farmers from unpredictable market swings.Despite increased cotton production, global demand has not kept pace, creating a supply-demand imbalance. For the 2024-25 season, the textile industry’s projected demand stands at 116 million bales, falling short of the 120 million bales expected…
ZIMBABWE’S mining sector, a vital pillar of the economy, is currently battling a crippling energy crisis that threatens its very foundation.The recent standoff between the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) and miners, as highlighted in our page 5 story, is a damning indictment of the nation’s failing energy infrastructure and a clear call…
DELTA Corporation’s recent acquisition of a controlling stake in Schweppes Holdings Africa is set to push the beverage giant’s annual revenue beyond the US$900 million mark in the current financial year, according to market experts.Last month, Delta increased its shareholding in Schweppes to 69 percent, up from the 49 percent it acquired in 2009. A…
LOCAL financial institutions should prioritise lending to productive sectors of the economy to increase output and stimulate exports to boost foreign currency reserves, trade experts have said. This came out at the POSB Exports Seminar on Friday, where stakeholders in the export sector applauded the State-owned financial institution’s commitment to supporting productivity but called for…
ZB Financial Holdings (ZB) has launched international cards and payment services, expanding its existing payment offerings beyond its current VISA products. The launch, in partnership with Mastercard, gives ZB clients wider acceptance, enhanced flexibility, and access to exclusive Mastercard benefits, including global discounts and travel perks. ZB clients can now enjoy wider acceptance and enhanced…
ZIMBABWE has formally requested South Africa’s assistance in mobilising international support to navigate a potential debt restructuring under the G20 Common Framework.Finance minister Mthuli Ncube said the government has started preliminary engagements with key creditors, signalling a determined push for a comprehensive debt treatment plan.“…we have…assessed possible support for G20 Common Framework debt treatment. An…
THE Zimbabwe Energy Regulatory Authority (ZERA) has raised concerns about an increase in fuel contamination cases, particularly involving smuggled methanol and illegal ethanol blending.The industry regulator also highlighted seasonal challenges in ethanol supply, which have led to temporary adjustments in the country’s fuel blending policy.ZERA chief executive, Edington Mazambani, told The Financial Gazette this is…
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