GRAIN Marketing Board (GMB) managing director Rockie Mutenha (RM), recently said the parastatal was carrying out maintenance works on silos and was ready to start receiving grain from farmers. This comes as 1,8 million metric tonnes of maize are expected to be delivered to GMB. This week, he spoke to The Financial Gazette’s Group Digital…
MOST firms listed on the Zimbabwe Stock Exchange have defied the national Covid-19 lockdown disruptions to post increased revenues. This comes after the country imposed various levels of lockdown since the first one in March last year, after the deadly virus broke out, disrupting business and social operations. Financial results and trading updates released recently…
ZIMBABWE is expected to finalise its platinum beneficiation framework this year, ahead of the introduction of penalties designed to encourage local processing of the mineral. Government policy at the moment allows platinum group metals (PGMs) producers to export PGMs in concentrates or mate. However, from January 1, 2022, a new penalty framework which will work…
THE GOVERNMENT says grain storage facilities will be ready in time for the harvest season, with the last of the country’s silos scheduled to be fully refurbished by the end of April. Zimbabwe is expecting a maize surplus of 1,2 million tonnes while the country has 12 silo facilities with a capacity of 750 000…
AFRICA is losing an estimated US$50 billion a year from illicit financial flows (IFFs) through a variety of methods, from tax evasion and deliberate mis-invoicing, the United Nations Commission for…
ZIMBABWE’S capital-starved firms present investment opportunities for private equity, a local wealth management firm has said. A highly-volatile economic environment headlined by high inflation and currency fluctuations, has kept both domestic and foreign lending to the private sector at a minimum. According to the Reserve Bank of Zimbabwe (RBZ), most local banks have adopted a…
INDUSTRY says the weakening of the US$ against the South African rand has raised costs of imported raw materials, which has affected the pricing of certain goods in Zimbabwe. South Africa is the country’s largest trade partner and the rand has gained about 26 percent on the greenback over the past 12 months, while Zimbabwe’s…
COOKING oil production is expected to double due to an increase in soya bean production this year, Oil Expressers Association of Zimbabwe (OEAZ) president, Busisa Moyo, has said. Soya bean hectarage doubled from 2020 levels but oil producers say local production of the crop is still not enough to meet all the country’s oil demand,…
THE number of mobile money transactions in Zimbabwe declined by 10 percent during the third quarter of 2020 as the government tightened controls in the sector which it blamed for fuelling the parallel market for currency, a Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) report has shown. During the quarter, the Harare administration placed…
WHEN litigants go to court seeking orders sounding in money, it is with the intention of securing maximum value. So, when the question of whether to claim for foreign currency as opposed to local currency arises, it goes without saying in which direction clients tend to lean. As legal practitioners, it has grown ever more…
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