AMID visible vexation among senior government officials about the state of the country’s economy, business leaders want authorities to ramp up their recent prudent policy interventions. At the same time, a visiting economic expert from Kenya has added his voice to the growing chorus of sentiments calling for broader use of the under pressure Zimbabwe…
BINDURA Nickel Corporation (BNC) says its capital expenditure increased by US$1,8 million to US$8,3 million during the year ended March 31, 2023, driven by a programme to replace old and unreliable underground mining equipment. The Victoria Falls Stock Exchange-listed miner said the capital expenditure was being funded from bank loans and internal cash flows. The…
CFI Holdings (CFI) says it will concentrate on improving its procurement methods due to the unpredictability of grain supply and pricing in the country. The agro-industrial group’s chairperson, Itai Pasi, welcomed policy measures put in place by the government to promote the liberalisation of grain marketing to the benefit of millers, farmers and ultimately the…
ZIMPLOW Holdings (Zimplow) is upbeat about its future as it prepares to migrate to the Victoria Falls Stock Exchange (VFEX), while it pursues a new original equipment manufacturer (OEM) after its exit from Caterpillar distributorship. The diversified group believes listing on the US-dollar denominated exchange will also help the company to penetrate the regional market…
NAMPAK Zimbabwe (Nampak) says the tight liquidity in the economy has affected its ability to restock raw materials on time. The market has been experiencing constrained liquidity after authorities enforced measures to stabilise the economy, with companies failing to access funding and maintain adequate cash flow levels. “Although foreign currency inflows improved over the period,…
ZIMBABWE Investment and Development Agency (Zida) says it is confident that Foreign Direct Investment (FDI) will increase this year to reach the US$4 billion set target, given the interest shown by both regional and global investors. Since the turn of the millennium, Zimbabwe has struggled to attract significant FDI due to a host of problems,…
TANGANDA Tea Company (Tanganda) says it remains focused on its strategic value addition thrust despite challenges in the operating environment pushed by both local and external factors. The diversified group’s chairman, Herbert Nkala, said Tanganda would also focus on cost management to mitigate pressures on profit margins. “The first half of the financial year was…
VICTORIA Falls Anti-Poaching Unit (VFAPU) has received a major boost in its operations from African Sun (Afsun), which handed the unit US$21 000 to cater for the 16-member scouts’ full-year salaries and medical aid. The Afsun’s one-year sponsorship comes as a major boost to VFAPU’s wildlife and natural resources conservation efforts. The Victoria Falls’ teeming…
RUBBER and chemicals specialists, General Beltings (GB Holdings), is expecting its plant refurbishments to eliminate 70 percent of its lost production time. GB Holdings’ chairman, Godfrey Nhemachena, told The Financial Gazette that 80 percent of the company’s lost production through plant breakdown was emanating from its boilers, hence the decision to dismantle and refurbish them.…
PIPING products manufacturer Proplastics says it secured a US$4 million contract in Malawi as the group continues to widen its export market. The group said it has identified two new export markets in the region that are expected to improve foreign currency revenue streams. In a recent interview, the chief executive of Proplastics, Kuda Chigiya,…
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