RESIDENTIAL property has remained the best-performing segment in Zimbabwe’s real estate sector amid housing shortages in the country, according to a new report. Last year, the segment registered the highest number of transactions and constituted the bulk of activity in the construction sector. “The growth was fuelled by diasporans through remittances, employer-assisted mortgage schemes, and…
TRADE development and promotion body, ZimTrade, says the recent citrus trade protocol agreed between Zimbabwe and China can open up the Asian giant’s market for other horticulture products from Zimbabwe. ZimTrade conducted a market scan in China on the sidelines of a recent Zimbabwe-China Business Forum and believes that local farmers can earn premium value…
KHAYAH Cement, formerly Lafarge Cement, commissioned a new Vertical Cement Mill (VCM) at its Manresa plant. The mill is set to boost the company’s milling capacity, while also reducing production costs. Our Features Editor Emmerson Njanjamangezi (EN) sat down with the company’s chief executive, Innocent Chikwata (IC), to understand how the VCM was put together.…
ZIMBABWE’S Energy ministry has urged investment in renewable energy saying the country’s current power generation mix between fossils and renewables is not optimal. Even though generation has continuously increased over the past few years, the global energy mix is still dominated by coal, oil and gas. Secretary for energy and power development, Gloria Magombo, recently…
PERMANENT secretary in the ministry of Agriculture, John Basera, says more needs to be done to rope in funding from pension funds in agriculture production. Basera told the Stratus Commodity Funding listing announcement this week that demand for agricultural commodities remained relatively constant, regardless of economic conditions. “Therefore, investing in agriculture focused commodity funds provides…
ANGLO American says platinum group metals (PGMs) output at Shurugwi-based Unki Mine increased two percent to 121 500 ounces in the first six months of 2023 from 119 600 ounces in the comparable period last year. The miner said for the second quarter of 2023, Unki’s PGM production fell 11 percent to 59 000 ounces…
RAINBOW Tourism Group (RTG) says it spent $8,52 billion on local suppliers in 2022, representing a 1 200 percent increase from the $655,72 million spent in 2021. The hospitality group had an import spending of $1,13 billion in 2022. “The group’s procurement policy regulates supply chain management to ensure consistency, costs optimisation, and quality of…
MEIKLES says it spent approximately US$15 million on capital expenditure during the year ended February 28, 2023, all financed from internally generated cash flows. The diversified group said the refurbishment of 47 rooms at the Victoria Falls Hotel was completed during the period under review, a development that bodes well for the hotel’s competitive positioning…
HARARE should publish Zimdollar, US dollar and rand inflation alongside figures based on the blended consumer price index (CPI). This was the consensus among economic analysts that featured on The Financial Gazette’s executive dialogue on Tuesday. The country’s statistics agency, ZimStat, switched to a blended CPI earlier this year, abandoning a Zim dollar CPI that…
ECONOMIC experts say while the government’s decision to allow US dollar wages in public entities would improve the welfare of their staff, the move could obstruct efforts to promote the use of the Zimdollar (Z$). It comes as monetary and fiscal authorities have been enforcing a raft of measures to strengthen the local currency, which…
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