BRICKMAKER Willdale expects to pocket US$16,6 million before costs from the sale of unutilized pieces of land with proceeds to be channelled towards increasing capacity and subsequently profitability. This follows approval from shareholders at an ex traordinary general meeting held this week to allow for the proposed resolutions to unlock value from unused pieces of…

PPC has reported that its capital expenditure for the current fiscal year is trailing behind forecasts due to a delay in the completion of the fly ash project at its Zimbabwean unit. The company’s capex guidance for the full year ending March 31, 2024 (FY 2024) stands at R600 million. The implementation of the fly…

TSL is pioneering a new tobacco curing system aimed at addressing deforestation challenges. The rise of tobacco as a cash crop in Zimbabwe has had detrimental effects, with the devastation of the country’s forests being a chief concern. Despite prohibitions, enforcement remains lax, and constructing woodlots has proven neither swift nor practical in solving the…

CFI Holdings (CFI) has outlined plans to make broader cost cutting initiatives across its business operations as well as diversifying its agro-focused retail unit to minimize exposure to a major slump in the agriculture sector. The diversified agro-based conglomerate with retail, farming and milling operations anticipates a difficult year after a poor agricultural season owing…

PADENGA Holdings says its crocodile business has returned to optimal skin volume production at improved quality placing it in a strong position to maximise skin sales realisations. The rebound follows a 17 percent decline in skin volumes for the crocodile unit in 2022. During the year ended 31 December 2023, the Nile crocodile operations recorded…

IN a recent conversation with The Financial Gazette’s Omega Ukama, ZIMRE Holdings’ senior group finance manager, Tafadzwa Mushayi, shed light on the implications of Zimbabwe’s recent transition to IFRS 17. The new accounting standard, designed to enhance transparency, has posed distinct challenges for the country’s insurance sector, particularly when contrasted with more mature markets. The…