CAPTAINS of industry and economic experts have thrown their weight behind Zesa Holdings (Zesa)’s campaign for cost-reflective power pricing in Zimbabwe, saying this will boost the state power utility’s viability and assist alleviate the country’s electricity woes. Zimbabwe has over the years experienced severe power shortages due to insufficient local generation and Zesa’s inability to…
THE government says it has met its target for the Robert Gabriel Mugabe International Airport expansion project, with tenants expected to start occupying the space in two weeks, an official has said. Work at the US$153 million expansion and upgrading of the terminal at the RGM International Airport is expected to be completed by…
MASHONALAND Holdings (Mash Holdings) says it remains focused on implementing its portfolio diversification strategy to sustain growth. The property investment and development firm said the occupier sub-market continues to suffer from high voids in the CBD office sector due to sluggish economic activity. Zimbabwe has been experiencing a challenging economic environment coupled with liquidity constraints,…
Khayah Cement, formerly LaFarge Cement, says it is optimistic of a much-improved performance as the year progresses, on the back of management actions and investments carried out in the first quarter of 2023. This comes as the cement maker has been undergoing a business transition following the exit of Associated International Cement Limited in November…
ECOBANK Transnational Incorporated (ETI), the parent of the Ecobank Group, is targeting to exploit the immense single market opportunities created by the African Continental Free Trade Area (AfCFTA). The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union and eight regional economic communities. Established in 2018 and…
PADENGA Holdings (Padenga) says it anticipates gold production volumes to remain stable in the second quarter and increase thereafter on the back of the commencement of higher-grade ore feed from the Pickstone underground operation. This comes as gold sales volumes for the quarter increased by 19 percent to 541 kilogrammes from 453 kilogrammes in 2022,…
UNIFREIGHT Africa (Unifreight) says the suspension of import duty on basic commodities by the government could negatively impact its financial performance. Authorities suspended import duty on basic goods for six months to address the ongoing price hikes. The transport and logistics firm said exchange rate instability negatively affects the ability of the formal retailer and…
GENERAL Beltings Holdings (GB Holdings) posted a 40 percent decrease in total volumes to 206 metric tonnes for the quarter to March 31, 2023 from 342 metric tonnes recorded in the prior quarter, as the debilitating power outages significantly affected production. Zimbabwe is facing acute power outages, which are stretching to as long as 12…
FARMERS from the Democratic Republic of Congo (DRC) say they want to establish partnerships with inputs and agriculture implements manufacturers in Zimbabwe. The farmers, under the banner of the Pamlu Farmers Union, were in Zimbabwe last week to follow up on contacts made during a ZimTrade outward seller mission to Lubumbashi a few weeks ago.…
IN the past, the computation and declaration of PAYE was not an issue because the bond notes and the United States (US) dollars were treated on a 1:1 basis and it also the currency of tax payment to the Zimbabwe Revenue Authority (Zimra) did not matter. In the advent of the promulgation of regulations governing…
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