THE commencement of formal discussions for Zimbabwe to join the BRICS-backed New Development Bank (NDB) is a breakthrough, although accessing the lender’s deep pockets depends entirely on domestic reform, analysts have said. The Ministry of Finance last week confirmed that Zimbabwe has entered formal membership negotiations with the BRICS NDB following official correspondence from the…
BRITISH American Tobacco is expanding its retail footfall in an attempt to rescue dwindling sales volumes weighing business viability. In a trading update for the first quarter to March 31, 2026, the company said net turnover decreased by four percent, primarily reflecting the lower volumes and competitive pricing dynamics. Profit from operations remained flat at…
FIRST Capital’s customer deposits surged 32 percent year-on-year to ZiG5,4 billion on the back of robust customer acquisition, digital transformation initiatives and growing market confidence in its liquidity strength. This helped lift the gross loan portfolio by six percent to ZiG3,5 billion despite liquidity deployment constraints linked to statutory reserve requirements. Total income for the…
TURNALL Holdings’ revenue for the first quarter ended March 31, 2026, grew by 19 percent year-on-year, driven by growth in sales volumes and tonnes produced. The growth was supported by a strong demand for fascia boards and concrete tiles. In addition, the group projects improved performance this year, thanks to the new fibre-cement sheeting plant…
THE Horticultural Development Council (HDC) has urged the government to ease cost pressures on horticultural growers and exporters by providing tax relief and reducing levies, as global conflicts continue to disrupt trade. Rising freight costs caused by international conflicts, particularly the war involving Iran and continued disruptions to Middle Eastern airspace, are placing severe strain…
THE Zimbabwe Consolidated Diamond Company (ZCDC) has called for the slashing of diamond royalties by half, to five percent of total sales, to circumvent a mounting viability crisis triggered by a collapsed international diamond market. The diamond miner is pushing for a review of the foreign currency retention threshold on export sales from 70 percent…
ZIMBABWE’s gold deliveries rebounded in April, increasing 16,5 percent month-on-month to reach 3,32 tonnes up from 2,85 tonnes recorded in March, official data shows. Figures from Fidelity Gold Refinery show that the recovery was driven by small-scale artisanal miners, whose output surged by more than 20 percent to 2,11 tonnes during the month from 1,74…
THE African Development Bank (AfDB) Group has committed to supporting Zimbabwe’s debt clearance strategy after approving a three-year technical and financial initiative meant to accelerate engagements with creditors. The US$4 million grant will specifically finance the Zimbabwe Arrears Clearance Dialogue Enhancement Project (ZACDEP), aimed at strengthening dialogue and reforms needed to advance the country’s arrears…
THE call by the country’s diamond industry for the government to reduce the foreign currency surrender ratio and royalties should not be viewed as a plea for sympathy, but rather…
THE government says a strong and well-regulated seed system is critical to achieving the country’s ambitious agricultural production targets and boosting food security. Speaking during the Zimbabwe Business Summit and Seed Roadmap Workshop in Harare yesterday, the permanent secretary in the ministry of Agriculture, Obert Jiri, said improved seed varieties have the potential to transform…
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