ZIMBABWE’S dairy sector has seen a promising 20 percent increase in milk production in the first half of 2024, reaching 55,11 million litres, according to the Agriculture ministry’s Dairy Services Department. However, farmers are facing significant challenges due to extreme drought and El Niño conditions. “Dairy farmers have been quite resilient,” said Edward Warambwa, chairperson…
MASHONALAND Holdings (Mash Holdings) says it will set up a new office park along Borrowdale Road in Gunhill, Harare as part of its portfolio diversification strategy. Without divulging specifications with regards to the cost of the entire project and timelines for the commencement of construction, the ZSE-listed firm said it has already paid US$3 million…
THE Ministry of Mines is seeking to achieve a delicate balance between maintaining viable taxation for miners and promoting value addition and beneficiation in the sector, with a focus on 2025 and beyond. This comes as platinum group metals (PGMs), a significant contributor to the country’s mineral export revenues, face a major crisis due to…
FINANCE minister Mthuli Ncube should introduce more tax reforms and perk up the country’s ease of doing business climate in his pending mid-term fiscal policy statement to boost the economy. So recommend economic experts, who told The Financial Gazette — Zimbabwe’s number one business publication — this week that Ncube also needed to take further…
ZIMRE Holdings (Zimre) says it will invest US$5 million in Malawi and Zambia as part of a wider strategy to expand market share and strengthen the firm’s competitiveness. The ZSE-listed group, with business operations in the pensions, property, wealth management, short-term insurance and insurance broking sectors, wants to grow its flagship business, the reinsurance and…
African central banks set to decide on interest rates in the next three weeks are unlikely to follow the tide of global easing and maintain tight monetary policies, with one exception. “The broader theme is one of caution and data dependence with central banks closely monitoring inflation and currency trends,” said EY Africa Chief Economist…
KUVIMBA Mining House (KMH) subsidiary, Freda Rebecca Gold Mine (Freda), says it spent about US$100 000 on repair costs for its Mill Number 2, which was down for almost two weeks but is now up and running. Located 90 kilometres northeast of Harare in Zimbabwe, the gold miner houses three mills. Head of the KMH…
CLOTHING retailer Edgars Stores (Edgars) saw its bottom line for the first quarter to March 31, 2024 improve by almost half a million American dollars from prior year levels which it attributed to improved efficiencies. This was despite a challenging operating environment characterized by weaker volumes. According to the group, customers generally held back spending…
HOSPITALITY giant Rainbow Tourism Group (RTG) has significantly increased its support for local suppliers, spending a staggering $28,26 billion in 2023, a 232 percent increase from the $8,52 billion spent in 2022. This surge in local procurement comes as the group actively champions the use of Zimbabwe’s new currency, the ZiG. In an interview with…
STATE-OWNED telecommunications company, TelOne is investing US$31,1 million this year in network and technology infrastructure enhancements amid widespread concerns over Starlink’s expected disruption of its present business model. The company says it is however in search of long-term financing options to cater for a broader network upgrade. TelOne is one of the entities that is…
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