INDUSTRY minister Sithembiso Nyoni says the government will continue to craft policies that encourage productivity, improve industry competitiveness and grow the manufacturing sector in a manner that promotes exports. Nyoni made these remarks at the annual exporters conference hosted by trade development and promotion body, ZimTrade last week. “One of my ministry’s targets under the…
GRAIN Millers Association of Zimbabwe (GMAZ) says its members have started to import maize to bolster national stocks ahead of the expected El Niño-induced drought. Normal to below-normal rainfall is expected in the 2023-24 summer season, which is expected to impact the production of major crops such as wheat, tobacco and maize. GMAZ chairman Tafadzwa…
THE Zimbabwe Football Association (ZIFA) has appointed Yvonne Mapika Manwa as the new chief executive officer with effect from next month. The media shy- Manwa took over the role which was left vacant following the expiration of Joseph Mamutse’s contract in August this year. In a statement today, Zifa Normalisation Committee Chairperson Lincoln Mutasa said…
A METAL prices slump following a spike that was triggered by the Ukraine war has continued to hit miners, with Tharisa announcing this week that its Karo platinum project would be delayed by a year. This also comes as the Chamber of Mines of Zimbabwe (CoMZ) has called on the government to intervene, warning that…
ZIMBABWEAN companies that were part of the Global Expo Botswana in Gaborone last week are confident that the impression they made has not only enhanced the country’s reputation but will also result in increased business. The local companies showcased their products in the Zimbabwean pavilion under ZimTrade. The expo saw the participation of some of…
FIRST Capital Bank (FCB) Zimbabwe says appetite for its lines of credit has been encouraging to the extent that it is now in fresh negotiations with the European Investment Bank (EIB) to get another facility to support exporters in the coming year. The bank says financing the productive sectors of the economy continues to be…
THE threat of the raging Israel-Hamas war sucking in the entire Middle East region poses significant risks for Zimbabwe’s economy, analysts have warned. Speaking to The Financial Gazette this week, the analysts said the escalating conflict had the potential to further drive up oil prices, among other things, dealing a fresh blow to both the…
FIDELITY Life Assurance (Fidelity) recorded a 163 percent surge in insurance contract revenue to $4,4 billion for the half year ended June 30, 2023, buoyed by the significant growth in new policies written and an increase in US dollar-denominated business. The revenue improvement is from last year’s comparative of $1,7 billion. This comes as the…
PLAYERS in the property sector have called for the continued use of the US dollar post-2025, saying ditching the greenback so soon could destabilise the economy. This comes as President Emmerson Mnangagwa has said he aims for a return to a Zimdollar mono-currency system by the end of his current term, while legislation provides for…
CALEDONIA Mining Corporation (Caledonia) says the new positive drill findings suggest that there is more mineralisation and point to a longer life span for its flagship bullion asset, Blanket Mine. There has been an ongoing underground drilling programme at the Blanket gold mine, which is currently targeting depth extensions to the Eroica orebody. Due to…
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