RESERVE Bank of Zimbabwe governor John Mangudya says foreign currency supply in the country is set to improve as the tobacco marketing season progresses after initial sales went towards settling growers’ production loans. This year’s marketing season began in early March amid high prospects of a good crop and increased total production from last year’s…
AS THE date of Zimbabwe’s yet-to-be-announced 2023 general election draws closer, anxiety is growing within the market amid fears that the polls will disrupt the economy, piling on other challenges that have marred the domestic business environment. The country has a history of contested and violent elections, as well as polls “high jinks” by elected…
ZIMBABWE’S only exchange-traded Real Estate Investment Trust (REIT), Tigere Property Fund, says it expects to grow its revenue after reaching full occupancy at its initial properties. The Terrace Africa Asset Management (Terrace) fund, which started trading on the Zimbabwe Stock Exchange at the beginning of December, turned over US$162 646 during that month. “Well-located real…
FBC Holdings (FBCH) says it has had to throttle lending at its building society to defend its balance sheet. This comes as high inflation in Zimbabwe over the past four years has tested banks’ willingness to lend. “The period under review was characterised by high inflation, volatile foreign exchange rates and speculative trading, presenting major…
TRADE development and promotion body ZimTrade says it is deepening support to companies across the country to ensure that all districts are able to tap into the export market. In a new note, ZimTrade said this was in line with the government’s devolution agenda and would increase the contribution of all provinces to national exports…
PIPING manufacturer Proplastics says it expects demand to improve underpinned by both public and private sector-initiated projects, although challenges persist in the operating environment. This comes as the company said it was working hard to ensure that power supply, which it described as its major risk, is mitigated and the market does not suffer supply…
BRITISH American Tobacco Zimbabwe (BAT) says its cigarette sales were down 6,7 percent during the year ended December 31, 2022 due to tight liquidity of the Zimbabwe dollar. It comes as the Reserve Bank of Zimbabwe has lately implemented a tight monetary targeting framework to curb inflation, which analysts say has been driven by money…
PROPERTY firm Mashonaland Holdings (Masholds) says the group is in a position to continue generating US dollar revenue despite the economic headwinds. This comes as Zimbabwe’s market continues to witness marked disparities in the pricing of goods and services depending on the currency of settlement, with an increasing number of transactions being settled in foreign…
TURNALL Holdings (Turnall) says it expects the completion of its ongoing projects to lead to increased revenue, profitability, exports and a sustainable improvement in quality and production efficiency. The construction-materials manufacturer is currently investing in several projects which are expected to be operational next year. “Despite the challenging business environment, the group has embarked on…
BRIDGEFORT Capital (Bridgefort), formerly MedTech Holdings, has managed to reduce liabilities owed to foreign creditors, but hopes the central bank will speed up the clearance of legacy debts since delays are harming operations. This comes as legacy debts have negatively weighed on companies’ balance sheets and continue to be a barrier to their ability to…
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