AMALGAMATED Regional Trading Holdings (Art) says it hopes for a review of government measures to contain inflation and stabilise the exchange rate in a manner that takes cognisance of the need to support the manufacturing sector. Earlier this year, the government implemented several measures aimed at containing inflation and stabilising the exchange rate, which included…
TONGAAT Hulett Zimbabwe (Tongaat) says it exported US$109 million worth of sugar between April 2019 and July 2022. Chief executive Aiden Mhere said the company’s operations, which comprise Hippo Valley Estates (Hippo) and Triangle, have resulted in Zimbabwe being sugar self-sufficient and have helped in the “empowerment of farmers, creating jobs, and earning foreign currency…
ZECO Holdings (ZECO), a perennial loss-maker, says it has already begun to see improvements in its performance as a result of its recent restructuring from a rolling stock business to a property investment and development company. The company shifted its focus earlier this year, which shareholders approved in August. In a trading update for the…
THE minister of Finance and Economic Development, Mthuli Ncube, through the circulated Finance (No 2) Bill, 2022 is proposing that all ZWL$ outstanding tax debts be converted to the foreign currency equivalent at the time the debt is incurred, and payment will be made in ZWL$ using the prevailing inter-bank exchange rate at the time…
ECOCASH Holdings says digital banking was its most profitable segment during the half-year to August 31, 2022, with a surplus of $5,7 billion, up by 323 percent compared to the prior comparable period. In contrast, the mobile money and insurance segments both made losses of $4,86 billion and $4,88 billion, respectively, while the group’s other…
OLD Mutual Zimbabwe aims to raise US$100 million under an infrastructure fund which will see US$45 million directed towards renewable energy projects. The programme, which is a joint venture between the government and some United Nations agencies operating in the country, comes as the UN SDG (Sustainable Development Goals) fund has already made US$10 million…
BUSINESS says the country’s worsening power crisis, as well as continuing policy inconsistencies and hesitancy in implementing needed reforms are blighting Zimbabwe’s economic prospects for 2023. Speaking to The Financial Gazette this week, experts said it was critical that authorities stepped up to the plate urgently, as all this had the net effect of denting…
AGRO-SEED manufacturer SeedCo Limited (SeedCo) says it has adequate seed for the ongoing summer selling season. Seed uptake is currently high as most of the company’s markets including Zimbabwe are in their summer cropping season. “The regional business is also well prepared for the season on the back of adequate stocks out of Zambia also…
THE Zimbabwe Energy Regulatory Authority (Zera) says it will intensify efforts to promote efficient use of electricity in a move that could save up to 300 megawatts. This comes as Zimbabwe has been experiencing rolling power cuts of up to 19 hours a day, amid dwindling water supplies at hydroelectric power source, Kariba Dam, and…
FINANCE minister Mthuli Ncube says Zimbabwe is still on course to meet a four percent gross domestic product growth this year and 3,8 percent in 2023, despite the incessant power cuts that have hit the productive sectors. Ncube told The Financial Gazette on the sidelines of a post-budget review seminar organised by the Confederation of…
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