SOLGAS Energy (SolGas) has begun the second phase of its Cross Mabale solar power plant expansion, to add a further 10MW to the first phase 5MW output capacity. The Hwange plant, which is connected to the national grid, has a capacity of 5 MW, which is enough to power about 10 000 households. The second…
FOREIGN investors were net sellers of shares worth $162 million on the Zimbabwe Stock Exchange (ZSE) in February, official data shows. The data provided by the local bourse shows that total foreign purchases during the month were $659 million, while sales came to $821 million. Significant net sales were recorded in Tanganda 172,81 million, Hippo…
AGRO-SEED producer Seed Co says it will continue to innovate to come up with varieties that promote climate change adaptation and crop diversification. This comes as the company launched three new maize varieties ― SC 303, SC 437 and SC 547 ― at a field day in Goromonzi this week. Seed Co managing director Terrence…
ZIMBABWE’S current account surplus is likely to narrow to 1,5 percent of GDP in 2022 from 4,8 percent in 2020, as demand for consumer and industrial imports strengthens, amid an uptick in economic activity, Fitch Solutions (Fitch) has said. The current account balance is one of two major measures of a country’s foreign trade. A…
THE role of women in our society has evolved over the years. From climbing the corporate ladder to occupying key offices in government, there is no field in which women have not proved themselves. The same can be said about their different journeys to become entrepreneurs, which often comes with a lot of challenges. As…
THE Tobacco Industry Marketing Board (TIMB) says production of the golden leaf faces viability challenges emanating from a high cost of production fuelled by currency challenges obtaining in the country. TIMB chief executive Meanwell Gudu told a media briefing this week that the volatility in the currency market was a major concern for farmers. “The…
Non-resident tax on fees is withheld in terms income tax laws in Zimbabwe. The fees should be paid from a source within Zimbabwe to a non-resident. A non-resident person is a person other than the company, a partnership or foreign company not ordinarily resident in Zimbabwe. A person includes a juristic person i.e. a company,…
SOME of the fears that local business expressed about the Russia-Ukraine conflict last week are already coming to pass, with Zimbabwe’s economy beginning to feel significant heat from the strife. This comes as the cost of doing business in the country, as well as prices of many goods and services are rising anew, in response…
THE CBZ Holdings’ (CBZ) Exchange Traded Fund (ETF) had a strong start on the Zimbabwe Stock Exchange (ZSE), with gains of 123 percent during its first four trading sessions. Units of the country’s third ETF started trading on Friday at $1 and closed yesterday at $2,23. ETFs are managed funds that track the performance of…
ZIMBABWE’s cattle herd grew by 0,6 percent last year, following the launch of a five-year Livestock Growth Plan running up to 2025, which is expected to give sustainable solutions to challenges faced by ranchers and farmers. In a post-Cabinet briefing this week, Information minister Monica Mutsvangwa said the national head grew from 5,478 648 million…
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