INTEGRATED power and renewable energy services provider, Tendo Electronics and Power Engineering remains optimistic about its prospects despite a plethora of challenges bedevilling the economy. Tendo managing director, who is also the president of the Zimbabwe National Chamber of Commerce (ZNCC), Mike Kamungeremu said his company would ride on positive expectations within the business sector.…
ZIMBABWE’S chrome production slumped during the third quarter of 2023, weighed down by a global metals price decline that followed the initial surge triggered by the Ukraine war. Official data reveals a 9,7 percent drop from the previous quarter and a 28 percent decline compared to the same period in 2022, with output reaching only…
ZIMBABWE’S tobacco exports were up by 25,8 percent in 2023 to reach $1,23 billion, according to the Tobacco Industry Marketing Board (TIMB). This rise solidifies tobacco’s position as the second-largest source of foreign currency earnings for Zimbabwe, trailing only platinum group metals. TIMB reports that the country exported 236,11 million kilograms (kgs) of tobacco at…
CFI Holdings (CFI) is hoping to shield itself from the El Nino-induced economic contraction by increasing its milling operations and housing projects. The agro-focused group’s strategies come as the agricultural sector is a mainstay to the group’s operation and the El Nino is expected to hit crop yields during the 2023/24 farming season. “Given that…
AMALGAMATED Regional Trading Holdings (Art)’s revenue jumped seven percent to US$47 million in the year ended September 30, 2023, with the group’s divisions able to sell predominantly in hard currency during the period. The diversified group’s chairman, Thomas Wushe, said Art had a strong year and achieved solid strategic development despite a challenging operating environment.…
SUGAR producer Hippo Valley Estates says it has enough water resources to sustain its operations through the anticipated El Nino period, potentially mitigating drought risks and ensuring production stability. The company, in a statement accompanying its half-year results, assured investors about its irrigation capacity to last “approximately two seasons” within existing dams, despite El Nino…
ZIMBABWE’S trade deficit ballooned to US$146 million in November, more than doubling from the previous month, as a sharp drop in exports outpaced a modest decline in imports. The widening gap raises concerns about the country’s ability to finance essential imports and could dampen hopes for a sustained economic recovery. Latest data released by the…
ZIMBABWE’S tourism industry is roaring back to life, with a 41,9 percent increase in tourist arrivals during the third quarter of 2023 compared to the same period last year. Statistics from the Reserve Bank of Zimbabwe (RBZ) reveal that 494 878 tourists graced the country’s breath-taking landscapes, a testament to the groundwork laid after the…
THE Old Mutual Investment Group (OMIG) warns that Zimbabwe’s fragile economic balance hinges on the government’s ability to walk a tightrope of maintaining its strict fiscal and monetary policies. This comes amid a confluence of challenges, including the El Niño phenomenon, falling commodity prices, and recurring currency volatility. While recent months have seen a glimmer…
THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz), anticipates positive outcomes from recent telecom tariff hikes. It believes the adjustments, reaching up to 100 percent in some cases, will improve operators’ revenue-to-cost ratios, leading to increased investment and better service delivery. This optimism stems from Potraz’s third-quarter sector performance report, which highlights the expected…
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