THE Zimbabwe Investment Development Agency (Zida) says foreign direct investment (FDI) into the country has remained low due to several factors, including the perceived ease of doing business in the country. Since the turn of the millennium, the country has struggled to attract significant FDI. “Feedback from engagements with potential investors within the quarter highlights…
THE Victoria Falls Stock Exchange (VFEX) was established in 2020 as a subsidiary of the Zimbabwe Stock Exchange (ZSE) to operate in the Victoria Falls Special Economic Zone. Our Senior Staff Writer, Farai Mabeza (FM), recently caught up with the new exchange’s chief executive Justin Bgoni (JB) to get a feel of how the foreign…
ZIMBABWE Stock Exchange-listed company, TSL Limited, says the construction of its new warehouse in Harare should be complete by February next year. The diversified group is currently expanding its warehousing facilities to improve operating efficiency and generate more income. It recently completed a 9 000 square metre Mvurwi warehouse before the commencement of the tobacco…
BELT and rubber manufacturer General Beltings Holdings (GB) says it is currently operating at 50 percent capacity utilisation, but is ready to meet customer demands. In an interview with The Financial Gazette, managing director of GB, Willbroad Tsuroh, said capacity utilisation is hardly “a steady parameter as it encompasses the status of raw materials supply…
DAIRIBORD Holdings (Dairibord) says it invested in a second Tetrapak carton filling machine that is largely biodegradable, as the firm commits to migrate to recyclable carton lids. The dairy processor said it has also established partnerships with stakeholders such as packaging suppliers, waste collectors and recyclers to ensure that its management process is successful. Dairibord…
SEED CO International (Seed Co) says it is revamping both its business model and balance sheet to address the growing cost of conducting business and to protect itself against depreciating currencies in the countries where it operates. The pan-African seed processor indicated that its market position and brand equity were strong, as seen by…
KHAYAH Cement (Khayah) says it has expended US$25 million over three years to construct its new vertical mill plant. Augmented by the adoption of new technologies increasing efficiencies, the new plant is set to raise the company’s cement production capacity from 350 000 to 1,05 million tonnes per annum against an average national demand of…
DELTA Corporation (Delta) expects its new US$70 million capital expenditure splurge to provide growth of at least one third across its value chains. The investment, which was spread across the company’s different beverage sectors, was planned at the peak of the Covid-19 pandemic, according to chief executive Matlhogonolo Valela. It has seen new equipment being…
THE current Zimbabwe dollar liquidity squeeze will continue for a while longer as authorities strive to further stabilise the local currency and inflation, the Reserve Bank of Zimbabwe (RBZ) has confirmed. RBZ governor John Mangudya told The Financial Gazette — the country’s number one business publication — yesterday that the liquidity squeeze was one of…
WHILE the Zimbabwean economy grew by 6,5 percent last year as confirmed by the latest ZimStat figures, economic analysts say the growth has not cascaded down to the ordinary person. The country’s GDP continues to increase each year, despite the adverse impacts of the Covid-19 pandemic, the debilitating economic sanctions, and global supply chain disruptions…
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