THE 2022 budget must commit resources to industrialisation, specifically by coming up with a resource envelope that value chain players can tap into. In its draft pre-budget submissions, the Confederation of Zimbabwe Industries (CZI) said though the National Development Strategy (NDS1) has identified priority value chains, there are deep and embedded challenges, which require stimulation…
SCHWEPPES Zimbabwe Limited’s subsidiary, Beitbridge Juicing Company says it has seen an increased appetite for long-term collaborations, particularly from South Africa (SA)in the wake of supply chain disruptions after the outbreak of Covid-19. Schweppes commercial and public affairs director, Unaiswi Nyikadzino told the ZimTrade exporters conference in Harare last week that the interruptions had paved…
ZIMBABWE’S cryptocurrency community has welcomed impending legislative changes for the recognition of virtual assets as “securities”, saying this would allow innovation in the financial technology space. The country currently does not have legislation covering digital assets, a situation that has arrested the development of enterprise around blockchain technology and cryptocurrency phenomena, which have gained traction…
THE release of the Pandora Papers on October 4, 2021 caused quite a tumult. Thousands of companies, and the influential people behind them, were implicated in fraudulent misrepresentations, participating in and benefitting from illicit financial flows, concealing assets for the purpose of tax evasion and tax avoidance. This begs the question, when a corporate body…
GENERAL Beltings (GB) says it plans to expand into alternative markets to capitalise on an increase in demand in its space. The rubber and chemical products manufacturer, which serves the mining and agriculture sectors, posted a profit of $12 million for the half-year to June 30, 2021 compared to $3,3 million recorded in the prior…
INNSCOR is investing US$70 million across its business units in a bid to increase production capacity, improve efficiency and enhance product innovation, as the group seeks entry into new products and categories. In a statement accompanying financial results for the year ended June 30, 2021, Innscor chairman Addington Chinake said the outlay will allow for…
PADENGA Holdings (Padenga) remains buoyant ― despite incurring a US$7 million loss during the six months to June 30, 2021― after finishing the rehabilitation of its flagship plant at Eureka Mine in July, which is expected to boost gold production. Padenga grew by supplying crocodile skins to luxury brands in Europe, but mining is now…
LAFARGE Cement Zimbabwe (Lafarge) is optimistic that opportunities in the infrastructure sector will spur growth for the cement maker. This comes as the construction sector has experienced modest growth, mainly sustained by road rehabilitation, expansion and rehabilitation of energy and water infrastructure projects, as well as individual housing projects throughout the country. “The company is…
THE Zimbabwe Stock Exchange (ZSE) gained 29 percent in September to recover from a three percent loss in August, as inflation increased for the first time since January, amid foreign currency disbursement delays on the central bank’s auction system. Since June, the market, which has rallied on the back of currency instability over the past…
THE Reserve Bank of Zimbabwe (RBZ) says it is increasing open market operations (OMO) to deal with resurgent inflationary pressures. The country’s annual inflation increased to 52 percent in September from 50 percent in August — the first up-tick in eight months — after the ZWL devalued considerably on the parallel market, amid disbursement delays…
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