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…
ZIMBABWE’S milk production was up by 16 percent to 75 million litres during the 10 months to October 2022, latest figures from the Agricture ministry’s dairy services department show. Milk intake by processors was up 14 percent during the period to 67,63 million litres from 59,14 million litres in the comparable period last year. Consequently,…
CLIMATE change remains a major source of concern for the agriculture sector as it continues to hit farm productivity, a new survey shows. According to the Agriculture Sector Survey of 2022 released this week, 100 percent of stakeholders interviewed confirmed that over the past few years, climate change has had a significant impact on productivity.…
AUTHORITIES need to incentivise private sector financing for agriculture to bridge the yawning funding gap which has hampered the growth of the pivotal industry over the past few years. This is a key finding of the 2022 Zimbabwe Agriculture Sector Survey, which is a brainchild of the Zimbabwe Agricultural Society (ZAS) and the country’s number…
NATIONAL Foods (NatFoods) says it sees the Victoria Falls Stock Exchange (VFEX) as an avenue to raise funds for future expansion. The company is seeking shareholder approval to move its listing from the Zimbabwe Stock Exchange (ZSE) to VFEX. If this resolution passes at the company’s extraordinary general meeting on December 12, NatFoods will start…
FACED with what it describes as a complex and challenging environment, Edgars Stores Limited (Edgars) says it has introduced US dollar accounts, while developing a resilient business model to withstand future shocks. In a trading update for the 13 weeks ended October 9, 2022, group chief executive Tjeludo Ndlovu, acknowledged measures introduced by the central…
INDUSTRY minister Sekai Nzenza says there is need for increased awareness and widespread application of standards by Zimbabwean companies to enhance the overall economy of the African continent. This comes as African standards are now playing a central role as they signal the quality of goods channelled into the export markets, which determines their competitiveness.…
ZIMBABWE saw an overall growth in the production of horticulture crops in the 2021/2022 season, the Agricultural Survey Report has revealed. The country is currently targeting an increase in high-value products for export markets for continued diversification of the agricultural production base and increased production for local markets to give consumers a wider range of…
AGRICULTURE minister Anxious Masuka says the government seeks to develop innovative marketing and financing approaches for smallholder farmers under a new thrust to industrialise rural communities. Speaking at the launch of the 2022 Agriculture Sector Survey in Harare on Wednesday, Masuka said the government was focusing on agriculture development as a catalyst for rural industrialisation.…
ANALYSTS are anticipating that the fiscal authorities will strengthen funding for economic drivers in the 2023 National Budget to allow for economic growth. The budget is expected to be presented in parliament today by Finance minister Mthuli Ncube. Speaking to The Financial Gazette this week, economist Clemence Machadu said because 2023 is an election year,…
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