SUGAR producer Hippo Valley Estates says it has managed to hold firm against imports despite a three percent dip in industry-wide domestic sales after import duty was lifted. In a trading update, the company said its share of the total industry sugar sales volumes of 397 000 tonnes for the nine months to December 31,…
FOREIGNERS’ activity on the Zimbabwe Stock Exchange (ZSE) continues to be skewed towards sales as the migration of issuers to a US dollar-denominated market — the Victoria Falls Stock Exchange (VFEX) — intensifies. In January, foreigners were net sellers of shares worth $2,85 billion, according to official data. They sold shares worth $3,68 billion but…
NAMPAK Zimbabwe (Nampak) says the business environment in Zimbabwe will remain difficult as long as power challenges persist. Load shedding has lately intensified in the country due to the loss of generation capacity at the flagship Kariba hydro power plant, as well as breakdowns at the Hwange thermal station. “The electricity supply, which deteriorated considerably…
MEIKLES says all its operating subsidiaries generated positive cash flows in the third quarter ended December 31, 2022, despite a challenging operating environment in Zimbabwe. Chief among the challenges were rolling power cuts. “Electricity supply challenges worsened during the quarter under review, leading to increased use of generators and in some instances reduction in operating…
TRANSPORT and Infrastructure minister Felix Mhona says Zimbabwe will have to be innovative to raise funds for national infrastructure projects to make up for the lack of concessionary funding in the space. The country is struggling to attract such funding due to high national debt, while the United States of America’s Zimbabwe Democracy and Economic…
STARAFRICACORPORATION (Starafrica) says it has resumed operations at Goldstar Sugars, which had been closed due to unviable prices of raw sugar. In a statement yesterday, the company said it had successfully negotiated a viable price with its supplier. “The board of directors of starafrica is pleased to inform its stakeholders that the refinery at Goldstar…
THE Bankers Association of Zimbabwe (Baz) has welcomed the Reserve Bank of Zimbabwe (RBZ)’s ongoing implementation of a new liquidity standard — Basel III — saying this will improve risk management in the sector. The central bank is implementing the standard, including the Liquidity Coverage Ratio (LCR), as part of efforts to promote the resilience…
TRADE development and promotion body ZimTrade says it will capitalise on opportunities offered by the African Continental Free Trade Area (AfCFTA) to explore non-traditional markets on the continent. Launched in January 2021, AfCFTA, is the largest global free trade area and could transform the continent’s economic prospects. “As one of the world’s largest free trade…
NATIONAL Handling Services (NHS) says it will set up a logistics company to improve revenue streams, amid the myriad challenges within Zimbabwe’s economy. NHS chief executive Godknows Marawanyika said establishing a logistics arm would remain a priority for the company. “NHS aspires to establish a logistics arm in 2023 and the focus will be on…
BUSINESS leaders are anxious that the looming elections could impact the economy negatively amid fears of knee jerk shifts in government policies. Former Confederation of Zimbabwe Industries president Busisa Moyo said it was important for business to remain cognisant of the possible impact of the elections, expected later this year, on the operating environment. “We…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More