THE Zimbabwe National Statistics Agency (ZimStat) says 86,8 percent of employed individuals worked in the informal economy during the fourth quarter of 2023. This underscores the growing role of the sector amidst ongoing economic pressures, as highlighted in the Zimbabwe National Chamber of Commerce (ZNCC) 2023 State of the Industry and Commerce report, which projects…
TANGANDA Tea Company (Tanganda) says packed tea exports into the region grew by 100 percent during the quarter ended December 31, 2023 attributed to the company’s successful penetration of the Democratic Republic of Congo market. The diversified group said the implementation of diversification of regional markets for packed teas as a growth strategy has begun…
BRICK manufacturer Willdale the brick has expressed concern over the immediate impact of the imposition of value-added tax (VAT) on clay bricks. This comes in the wake of a slew of new government taxes, fees, and levies that took effect at the beginning of the year, causing a surge in prices for a wide range…
EDGARS Stores’ (Edgars) share price was up by 14,7 percent last Friday following the retailer’s announcement of its intention to delist from the Zimbabwe Stock Exchange (ZSE) and relist on the US dollar-denominated Victoria Falls Stock Exchange (VFEX). The surge represents the most significant single-day gain for Edgars in over six months. The company’s proposed…
STARAFRICA Corporation (StarAfrica) says its going concern was momentarily hampered by the spike in pricing by the company’s sole supplier of raw sugar but rectified the situation by securing a new supplier. In February 2023, Gold Star, a StarAfrica affiliate, placed staff on indefinite leave and temporarily shuttered its refinery in Harare in protest of…
THE CEO Africa Roundtable has highlighted the need for rectification of the complex monetary system in Zimbabwe to facilitate the opening of the credit market and provision of long-term funding. Chairman of the roundtable, Oswell Binha, urged authorities to provide leadership in shaping the desired economic future. “We believe that efficient and sustainable economic growth…
FASTJET Zimbabwe this week launched its “Amazing Zimbabwe” marketing campaign, which focuses on promoting the lesser-known attractions of the country. According to the airline, the “Amazing Zimbabwe” tagline aligns with four core themes intended to represent the nation comprehensively: Rich Traditions, Splendid Heritage, Iconic Sites, and Great People. Fastjet spokesperson Nunurai Ndawana emphasised the campaign’s…
TSL is engaging other African commodity exchanges, through the Zimbabwe Mercantile Exchange (ZMX), to secure imports ahead of anticipated crop shortfalls from the El Niño weather pattern. The country’s 2023/24 agricultural season is forecast to receive below-normal rainfall, impacting staple grains and cereals. “We are working through the ZMX to import commodities from other African…
MUTAPA Investment Fund (Mutapa) is evaluating an investment in Tongaat Hulett (Tongaat) alongside Vision Consortium (Vision), officials say.
SEVERAL companies listed on the Zimbabwe Stock Exchange (ZSE) have refrained from declaring their half-year dividends, citing economic uncertainty and the necessity to conserve cash. Despite the norm of distributing dividends annually in both cash and stock forms, with some fundamentally strong companies in the country’s stock market paying quarterly and semi-annually as interim dividends,…
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