NATIONAL Breweries (Natbrew), a unit of Delta Corporation, says exporting Chibuku Super to Zimbabwe has helped the company offset the low uptake of the product in Zambia occasioned by price adjustments. Natbrew produces, packages and markets traditional sorghum beer in Zambia. Popular variants of its opaque beer are Chibuku Shake-Shake and Chibuku Super. The company…
OLD machinery in the fertiliser manufacturing industry has crippled operations in the sector, impacting on productivity and competitiveness, the National Competitiveness Commission (NCC) has said. In its November 2022 Fertiliser Value Chain Competitiveness Report, NCC said the machinery had not been refurbished for five decades and was constantly breaking down. “The physical state and level…
FINANCE minister Mthuli Ncube says the government will intensify domestic tourism promotion to sustain the resilience of the industry. This comes as the Treasury chief has predicted that tourist arrivals are expected to increase to 1,4 million in 2023, whilst tourism receipts are projected at US$623 million. In the 2023 national budget Ncube said the…
ZB Financial Holdings (ZB) says it anticipates the current tight monetary policy, use of gold coins and effective monitoring in the financial sector by the authorities to go a long way towards promoting stability in the economy. This year, the government introduced a raft of measures as a way of dealing with the exchange rate…
THE Public Accountants and Auditors Board of Zimbabwe (PAAB) has decided on the early adoption of the International Financial Reporting Standards (IFRS) sustainability disclosure standards to be issued by the International Sustainability Standards Board (ISSB), Finance minister Mthuli Ncube has said. The ISSB is a standard-setting board that was established by the IFRS foundation in…
OLD Mutual Zimbabwe’s corporate incubator and accelerator in Harare, Eight2Five Innovation Hub has collaborated with the US Embassy to bring an American venture capital expert, Dawn Batts, to upskill local entrepreneurs and start-ups on investor relations. Venture capital is a form of private equity and a type of financing that investors provide to start-up companies…
CBZ Holdings (CBZ) says it is committed to helping the agriculture sector navigate the impacts of the new wave of digital transformation, which is creating serious disruptions in the business world. The world is currently experiencing a shift to digitalisation and this has affected the usual flow of things as businesses are battling to catching…
ECONOMIC think tank, Zimbabwe Institute of Strategic Thinking (ZIST) will this week host bankers, captains of industries, heads of parastatals and other government leaders in the resort town of Kariba for an indaba themed around the use of strategy in economic development. The conference will run under the theme ‘Leveraging strategy to propel Zimbabwe to…
PIPING products manufacturer Proplastics says owing to efficiencies realised from plant modernisation efforts, gross profit margins for the nine months ended September 30, 2022 improved compared to the prior year. In a trading update, chairman Gregory Sebborn said profitability, which was hampered by exchange losses resulting from overdue payments to foreign creditors in the first…
CAFCA increased its full-year historical operating profit by 408 percent, but the country’s largest cable manufacturer warned of a challenging operating environment as monetary policy tightens. Zimbabwe’s annual consumer price inflation declined to 268,8 percent in October 2022 from 280,4 percent the previous month following strict monetary policies put in place by the government and…
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