IN A bold move, Kavango Resources, a Botswana-based exploration company, is setting its sights on Zimbabwe’s untapped gold potential. Ben Turney (BT), Kavango’s CEO, recently sat down with The Financial Gazette’s Almot Maqolo (AM) to discuss the company’s plans and long-term vision in the country. Below are excerpts from the interview: AM: Can you provide…
AIR Zimbabwe’s fleet took wing with the arrival of a 50-seater Embraer ERJ145LR, marking a significant step in the national carrier’s turnaround strategy. The aircraft promises improved efficiencies, reduced costs, and potential expansion into new regional routes. Transport minister Felix Mhona hailed the acquisition, saying, “This aircraft signals the unlocking of Air Zimbabwe’s potential. We…
TAX experts believe the informal sector is still not ready to feed into national coffers due to several compliance issues amid concerted efforts by the government to widen the country’s tax base. This comes after a recent report by the Zimbabwe National Chamber of Commerce (ZNCC) highlighted that the informal sector, now the country’s dominant…
BRIDGEFORT Capital (Bridgefort) says it is working on a Real Estate Investment Trust (REIT) to manage its assets. This comes as the company continues to pursue transactions to broaden its investment portfolio. “Whilst a transaction is pursued, the Class B portfolio comprises an effective 50,1 percent of a stand registered in the name of MedTech…
ECONET Wireless Zimbabwe Limited (Econet) has called for balanced regulation, given the rising operational costs driven by inflation and the shift to using the US dollar. The telecommunications services provider said it is essential to find a middle ground where tariffs remain practical for the business without becoming unaffordable for consumers. “Regional benchmarks reflect that…
CAFCA, Zimbabwe’s only cable manufacturer, says its raw material consumption in the year ended September 30, 2023 (FY 2023) declined 10 percent to 2 791 metric tonnes from 3 107 metric tonnes in the comparative period. While the company uses aluminium, polyvinyl chloride, polythene and galvanised steel wire, copper remains the main raw material in…
NEWLY elected Hospitality Association of Zimbabwe (HAZ) president Brian Nyakutombwa says domestic tourism will push occupancy rates up this year. Nyakutombwa who succeeded Farai Chimba last November was also optimistic that government efforts to grow the tourism sector would also bring up new investments in the sector. He further called for the campaign to boost…
ZIMBABWE stands to reap significant rewards from the African Continental Free Trade Area (AfCFTA) but must address carbon emissions and product quality to remain competitive, the World Bank has warned. The AfCFTA, launched in January 2021, boasts a combined GDP of US$3 trillion, projected to double by 2050. World Bank senior country economist for Zimbabwe,…
INDUSTRIALISTS and economic experts are pushing for a more ambitious manufacturing growth target in Zimbabwe’s new National Industrial Development Policy (ZNIDP), arguing that the current proposal falls short of the country’s aspirations. The draft ZNIDP 2024–2030, currently under development by the government, sets a minimum manufacturing growth target of two percent per year. However, stakeholders…
EVERSHARP increased marketing expenditures in the year ended September 30, 2023, in response to growing competition from imports. Local industrialists are crying foul over the influx of cheap imported commodities. The leading manufacturer of ballpoint pens, rulers, and markers is a division of Amalgamated Regional Trading (Art). “Eversharp’s partnership with Luxor (India) helped to broaden…
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