NATIONAL Foods (NatFoods) says it is focusing on projects that improve its diversity through a larger basket of products. The country’s biggest food manufacturer is currently constructing a new mill at its Bulawayo site, which is set to open this month, while it is also upgrading its Aspindale Harare rice plant. The company is also…
PENSION funds’ aggregate holdings in stocks almost halved in 2022 following a slump on the local bourse, a new industry report shows. The Zimbabwe Stock Exchange All-share index advanced 80,1 percent during the year compared to 310,5 percent in the prior year. The bourse also saw its longest slump since 2016 last year, which analysts…
WOMEN Affairs minister Sithembiso Nyoni says the government is committed to capacitating women to enter the export market after over 100 female entrepreneurs completed a mentorship programme with trade development and export promotion body, ZimTrade. Nyoni was speaking at the official closing of the first edition of the programme dubbed the Next She Exporter, as…
ZIMBABWE plans to scale up its biofuel technology and venture into sustainable aviation fuels in pursuit of global environmental standards, a government official has said. Speaking at a recent seminar on sustainable aviation fuels, Infrastructure Development deputy minister Michael Madiro said the country’s biofuels programme has resulted in gasoline blends of up to 25 percent.…
RAINBOW Tourism Group (RTG) says it is now operating above pre-Covid-19 levels after its occupancy closed 2022 at 51 percent compared to 31 percent in the prior year. The hotelier said volumes improved significantly during the year, buoyed by accommodation, outside catering, Heritage Expeditions Africa activities, as well as Gateway Stream revenue channels. RTG’s chairman,…
ZIMBABWE could be on the verge of finally resolving the contentious land tenure issue, close to two-and-a-half decades after the onset of the land reform programme, as the government says it is inching closer to producing a bankable 99-year lease. This was revealed by a confident Agriculture permanent secretary John Basera, though a degree of…
ANALYSTS say Zimbabwe’s interest rates are still too high after the central bank reduced the policy rate from 150 percent to 140 percent. The country’s borrowing rates were raised last year to curb speculative borrowing, which the bank said was encouraged by sub-inflationary rates and stocking inflation. The policy rate, which acts as a baseline…
INVESTMENT expert Lionel Marumahoko says local businesses should take advantage of the African Continental Free Trade Area (AfCFTA) to explore business opportunities across the continent.
THE Reserve Bank of Zimbabwe (RBZ) says it will introduce gold-backed digital products to supplement the current physical bullion coins and allow for wider trade in the asset. The central bank introduced the Mosi-oa-Tunya gold coins in July last year in a bid to lower inflation and stabilise the local currency, which was rapidly losing…
Old Mutual Zimbabwe says its financial position remained strong during the year ended December 31, 2022, despite high inflation and value losses recorded on its listed equity portfolio.
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