DESPITE the impact of the El Nińo-induced drought, dairy industry players in Zimbabwe anticipate a 13,2 percent increase in milk production, reaching 113 million litres in 2024. While production rose nine percent to 99,82 million litres in 2023, this fell short of the projected 100 million litres and the target of 103 million litres. “Although…
OLD Mutual Zimbabwe (OMZ) says the demand for real estate investments remains high, with a focus on sustainability. The diversified financial services group recently launched a US$12 million upmarket housing project in Prospect, Harare, aimed at providing modern living for local residents. Group chief executive, Samuel Matsekete, speaking at the project’s groundbreaking ceremony, emphasised the…
MASHONALAND Holdings (Mash Holdings) expects to grow its total asset portfolio by around 50 percent to reach US$120 million in the next five years. The property developer has a five-year diversification strategy expected to boost its asset portfolio from US$80,7 million it recorded at the close of 2023 to US$120 million by 2027. This was…
PROPLASTICS says its tank manufacturing business, which started at the end of last year through dry testing, is now contributing positively to volume performance. It is part of the company’s drought mitigation-related projects. The country is currently facing its worst drought in years, leading to increased investment in drought mitigation efforts such as irrigation projects…
THE Value Added Tax (VAT) on Imported Services (VIS) in Zimbabwe ensures that services procured from non-resident persons and persons operating their business outside Zimbabwe and consumed by residents are taxed similarly to those supplied by local providers. This article explores the background, relevant laws, detailed VAT regulations, and the impact of VIS on businesses…
THE retail landscape in Zimbabwe has undergone a dramatic transformation. Once bustling with iconic brands like Truworths and Barbours, urban centres now house a multitude of small boutiques and shops. This shift was partly fuelled by the rise of second-hand clothing and cheap imports, posing a significant challenge to formal retailers like Edgars. Yet, Edgars…
A NEW report reveals that diamond production in Zimbabwe fell by 13 percent in the first quarter of 2024 from 1,63 million carats to 1.41 million carats. Despite the quarterly decline, there was a notable 15 percent increase compared to the last quarter of 2024, where production reached 1,42 million carats from 1,23 million carats.…
PIPING products manufacturer Proplastics is deliberately slowing down on exports as unsustainable electricity costs have rendered the group’s products uncompetitive in regional markets. For many years, the relatively higher price of electricity has been a major source of discomfort for businesses operating in the country when compared to power tariffs elsewhere. However, despite numerous engagements…
ELECTRICITY production by Independent Power Producers (IPPs) saw a significant boost in the first quarter of 2024, jumping 10,47 percent from the same period last year. Yet, despite this growth, IPPs still only contribute about 4,81 percent to the country’s total power output, according to a recent report by the Reserve Bank of Zimbabwe. This…
PADENGA Holdings (Padenga) says it will stop open pit mining at its Chegutu subsidiary, Pickstone Peerless Mine in August this year following major capital investments into underground mining operations. The first phase of underground mining was completed last year and commissioned in April of this year with further investments already channelled for phase two which…
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