INDIA’S ambassador to Zimbabwe, Vijay Khanduja, says companies from his country are eager to seize investment opportunities in Zimbabwe’s energy sector and help alleviate the country’s and southern Africa’s crippling power crisis. Due to de-industrialisation, Zimbabwe now requires approximately 1 500 MW of electricity per day, down from 2 000 MW previously. The country had…
FBC Securities says monetary authorities must be consistent when dealing with retention thresholds to attract investment into the country. This comes after Reserve Bank of Zimbabwe governor John Mangudya increased and standardised export retention at 75 percent across all sectors of the economy, including firms listed on the Victoria Falls Stock Exchange, with effect from…
ZIMBABWE’s inflation will gradually decline to single-digit levels by 2025, research firm Fitch Solutions (Fitch) has said. The southern African country’s annual inflation is currently at 229,8 percent, having ended the year 2022 at 243,8 percent. “We expect inflation to return to single-digit levels (on an average annual basis) from 2025 and remain broadly contained…
NEWLY-listed Victoria Falls Stock Exchange (VFEX) counter, National Foods (NatFoods), says it remains positive on Zimbabwe’s economic outlook as it targets investments totalling US$30 million by year-end.
ZIMBABWE’S largest telecommunications company, Econet Wireless (Econet), says the regulated tariff reviews are being done at a below inflation rate. The group’s revenue for the nine months ended November 30, 2022 grew by nine percent compared to the same period last year largely driven by voice and data volumes, which were however weighed down by…
POWERSPEED says it is banking on high-quality merchandise to give it a competitive edge in an environment that is skewed in favour of informal business. As Zimbabwe’s economy continues to deteriorate, industry has rapidly degenerated, giving rise to a burgeoning informal trade. “Our ability to procure products from the best global sources enables us to…
AMALGAMATED Regional Trading Holdings (Art) says it remains wary of the risk posed by short-term borrowings and is working to refinance these with suitable facilities. In a trading update for the first quarter that ended December 31, 2022, the diversified group’s secretary, Abisai Chingwecha, said the elimination of local currency borrowings in December helped to…
AGRICULTURE minister Anxious Masuka says the country will increase the area planted for wheat from about 80 000 hectares to 85 000 hectares during this year’s winter cropping season. This comes after the country last year produced a record harvest of 370 000 metric tonnes of the crop, making the country self-sufficient for the first…
PURE Oil Industries (Pure Oil), which manufactures the popular ZimGold cooking oil, says it is supplying nearly 47 percent of the Zimbabwean market demand due to improvements in operating efficiencies. As demand for cooking oil in the local market grows, Pure Oil has been investing in expanding its operations to ensure an adequate and steady…
ZIMBABWE needs products that cover loss of value in the insurance and pensions industry amid dollarisation pressures within the economy, a senior banking official has said. This comes at a time the country is working to come up with compensation for losses incurred by policyholders during the dollarisation of 2009. The decision to compensate came…
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