THE Food Crop Contractors Association (FCCA) says the government should introduce a power subsidy to cushion agriculture against rising production costs while helping mitigate climate change induced losses in production. FCCA chairman Graeme Murdoch told a business indaba last week that unlike other subsidies offered by the government, assistance on power would be impossible to…
FINANCE minister Mthuli Ncube says the government has sufficient resources to compensate losses suffered by depositors due to a statutory exchange rate movement in 2019. It comes as the Deposit Protection Corporation (DPC) recently said microfinance institutions had begun taking compensation claims from small depositors who incurred losses due to the changes on February 20,…
THE Tobacco Industry Marketing Board (TIMB) says the tobacco selling season will open on March 30, as preparations for the marketing of the crop are at an advanced stage. In a letter to the Zimbabwe Association of Tobacco Merchants last week, TIMB urged caution among farmers as it emphasised adherence to Covid-19 protocols during the…
CAFCA’s strategy of maintaining firm levels of finished goods as a hedge against logistical and foreign currency supply disturbances has paid off, after it recorded an increase in export volumes during the quarter ended December 31, 2021. In a trading update, the group said its conductor material sales volumes increased to 634 tonnes during the…
ZIMBABWE’S broad money supply, which consists of domestic and foreign currency deposits, stood at $474,4 billion at the end of December from $437,9 billion the previous month, latest data from the Reserve Bank of Zimbabwe (RBZ) shows. In its monthly economic review for December 2021 released last week, the RBZ said money stock was composed…
ZIMBABWEAN commercial bank, First Capital Bank, has partnered with European Investment Bank (EIB), to provide EUR 12,5 million (US$14,19 million) investment boost for smallholder farmers and agricultural companies and cooperatives across Malawi. The project, backed by European Union support, is aimed to transform access to finance for agricultural businesses across Malawi, strengthened by technical assistance…
THE anticipated tourism rebound will help drive economic recovery after the sector’s minimal contribution last year due to strict travel restrictions, wealth management firm Imara Capital has said. This comes after the tourism industry expressed optimism about this year’s prospects on the back of a receding Covid-19 threat, following the torrid time it experienced since…
WILLDALE says a slowdown seen in the construction industry since the start of the rain season late last year has led to a dip in its sales volumes. In a trading update for the first quarter ended December 31, 2021, the Zimbabwe Stock Exchange-listed building aggregates company said it anticipates a rebound in sales volumes…
ZIMBABWE is expected to be part of the eighth Tokyo International Conference on African Development (Ticad), which is scheduled for Tunisia this August. The Financial Gazette’s Senior Staff Writer, Farai Mabeza (FM) spoke to Japan’s ambassador to Zimbabwe Satoshi Tanaka (ST) about the two countries’ economic and development relations. Below are excerpts from the interview;…
THE contract farming platform CBZ Agro Yield says the use of technologies to track beneficiaries will help the programme wean off government guarantees to become a fully-fledged private sector initiative. CBZ Agro Yield was launched in 2019/2020 as a partnership between the government and the private sector, as the authorities sought to replace Command Agriculture.…
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