THE Agriculture ministry says the Livestock Recovery and Growth Plan will anchor the country’s target of creating an US$8,2 billion agriculture economy by 2025. Speaking during the launch of the Mombe Mari Trust — a beef industry investment fund — in Norton last week, the deputy minister of Agriculture, Vangelis Haritatos, said that the livestock…
BORDER Timbers (BT) is seeking to recapitalise its plant equipment and machinery to raise production in a bid to meet the surging demand for lumber in the domestic and export market. In a trading update for the quarter ended September 30, 2021, the timber processor said it is focusing on strengthening its balance sheet and…
POWER tariffs in Zimbabwe are set to go up after Finance minister Mthuli Ncube said the government is pursuing a “cost recovery” plan for Zesa Holdings (Zesa) in 2022. In the past, the government had limited power tariff hikes to restrain inflation, restricting Zesa’s cost recovery. Currently, consumers pay between $2,12 per kWh and $12,74…
LOCAL financial institutions are seeking a minimum of US$14 million in lines of credit from Shelter Afrique — a pan-African finance organisation — for housing development. Among some of the institutions seeking loans from the 45-member organisation headquartered in Kenya, is the Urban Development Corporation (UDCORP) and the National Building Society (NBS). According to…
FINANCE minister Mthuli Ncube says the government is still looking into the possibility of partially privatising the Zimbabwe United Passenger Company (Zupco), as part of efforts to improve the parastatal’s efficiency. The company was among 12 parastatals that were targeted for privatisation by the Treasury in 2018 to mitigate widening losses. Since 2020, when the…
ZIMBABWE is seeking to enhance farm productivity under the new five-year National Agritech Strategy running up to 2025, which encourages the use of modern information and communication technologies (ICTs) in agriculture. The strategy was also jointly launched this week with the Agritech Blueprint for Africa, which was developed for Smart Africa by Zimbabwe, with technical…
FINANCE minister Mthuli Ncube says the National Venture Capital Fund (NVC) would be better placed to support entrepreneurs if it had complementary funding from private investors. The government established NVC in 2020 “in response to demand for jobs by the youths and women”, as well as to promote entrepreneurship and innovation by small businesses. The…
Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX)-listed firms are going to leverage on the country’s improved business environment to increase revenue and volumes in the short-term despite disruptions and threats still posed by the Covid-19 pandemic. According to a set of recent trading updates, the companies said they were cautiously optimistic…
FINANCE minister Mthuli Ncube says Zimbabwe has been buying more sovereign insurance policies against natural disasters with the African Risk Capacity (ARC) Group since it took out a total payment of US$1,4 million against the 2019/20 drought. ARC is a specialised agency of the African Union that was established to help governments on the continent…
ZIMPLOW Holdings (Zimplow) says it remains focused on delivering its strategy and targets, amid indications that prospects for the fourth quarter are bright. In a trading update last week, the diversified agro-industrial group said it will, however, continue to “trade cautiously given the challenging trading environment”. “The prospects of a good agricultural season, continued growth…
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