MASIMBA Holdings (Masimba) says the adverse impact of the El Nino weather phenomenon and the declining mineral prices could have spillover effects on infrastructure development spending by government and the private sector thereby impacting execution of its order book. Zimbabwe has just endured a lackluster 2023/24 farming season due to the El Nino-induced drought expected…
ZIMBABWE’S diesel consumption, a key component of the country’s transport sector, increased by three percent to 1,07 billion litres in 2023, up from 1,04 billion litres in 2022, according to the latest figures. This rise is attributed to improved economic activity. The 1,07 billion litres mark the highest diesel consumption for the country in the…
THE Morgan & Co Made in Zimbabwe ETF (ETF) says the local manufacturing sector held steady during 2023 despite significant challenges confronting the economy. The Made in Zimbabwe ETF-an actively managed fund which primarily invests in Zimbabwean manufacturing companies, posted growth of 691 percent during the year tracking the Zimbabwe Stock Exchange (ZSE) All Share…
HWANGE Colliery Company (Hwange) says it has taken decisive action to suspend underground mine production for the next six months. The move aims to prevent coal losses due to spontaneous combustion, a consequence of production exceeding sales. The coal miner’s administrator, Munashe Shava, said the quantity of mined coal currently available is deemed sufficient to…
PIPING products manufacturer Proplastics has earmarked US$1,3 million for capital expenditure this year, a substantial 325 percent increase from the previous year. The move aims to enhance capacity and meet both domestic and regional demand. The company is keen on expanding its exports into the Southern African Development Community (SADC) region. Encouraging gains have already…
DAIRIBORD Holdings (Dairibord) has intensified its commitment to rigorous cost containment measures in response to the ongoing market turbulence. Price volatility, exchange rate fluctuations, and liquidity challenges characterise the current market landscape. “The group is aggressively pursuing a lean and agile cost structure, ensuring sustained profitability and long-term value creation for our stakeholders,” stated Dairibord’s…
GOVERNMENT says it is currently reviewing the share trading suspension of Old Mutual Zimbabwe and PPC Zimbabwe on the Zimbabwe Stock Exchange (ZSE) which has been in effect for close to four years. Old Mutual Zimbabwe, SeedCo International and PPC — all listed on foreign bourses — were suspended from the ZSE in June 2020…
THE Reserve Bank of Zimbabwe (RBZ) says the challenges encountered by formal business operators regarding the statutory 10 percent trading margin on the official exchange rate for instore use will no longer be an issue following the introduction of a much stable new local currency, the Zimbabwe Gold (ZiG). Government through a Statutory Instrument 118a…
RAINBOW Tourism Group Limited (RTG) has announced a strategic partnership with Switzerland-based hospitality group, Grand Metropolitan Holdings BV (GMH). The collaboration aims to establish multiple joint ventures, primarily in the realms of technology and hospitality. The partnership encompasses various facets, including the establishment of management contracts across African hotels, sharing of best practices in hotel…
BUSINESS has been cheered by the launch of the country’s new currency, the Zimbabwe Gold (ZiG), as well as the raft of other measures that were taken by the central bank last week. Captains of commerce and industry who attended Tuesday’s post-monetary policy statement (MPS) meeting in Harare said they had been “greatly encouraged” by…
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