CROCODILE skins and meat marketer, Padenga Holdings, has reported a 53 percent increase in profit after tax for the year ended December 31, 2017, buoyed by firming prices. The group reported a profit after tax of $12,9 million for the period under review, up 52,98 percent from $8,4 million reported in the previous period.
PHARMACEUTICALS manufacturing firm, MedTech Holdings, has warned of a looming drugs shortage after it failed to access foreign currency from the Reserve Bank of Zimbabwe (RBZ) to import critical medicines. MedTech is a diversified group of companies that manufactures, markets and distributes health, hygiene, beauty and pharmaceutical products. In a statement accompanying the company’s financial results…
THE business community is demanding fast and reliable links to international markets and supply chains as Zimbabwe opens up for business to the rest of the world, the Minister of ICT, Supa Mandiwanzira, has said. Speaking at the launch of DHL Zimbabwe’s new aircraft ― the DHL B737-400F ― last Friday, Mandiwanzira said as countries…
THE Zimbabwe Agricultural Society (ZAS) says the support system for agriculture is inadequate compared to the system that was in place half a century ago. On Wednesday, ZAS hosted a dialogue on the role of tertiary institutions in enhancing agricultural productivity in the post land reform era.
AFRICAN Sun Limited (ASL) says it has restructured its debt to manage its interest burden and allow the company to grow its business. The restructuring of the company’s borrowing would allow it to reduce the debt repayment period and plan future projects better against an unstable economic environment, the company said.
A FREEZE on bread prices by government last year has suppressed the profitability and viability of businesses in the baking industry, with major players like Innscor Africa reporting a decline in operating profit for the six months ended December 31, 2017. Players in the sub-sector resolved in December last year to effect a 10 percent…
ZIMBABWE’S national voice traffic increased 14 percent to 1,05 billion minutes for the quarter to December 31, 2017 from 924,7 million recorded the previous quarter, the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) said in its fourth quarter sector performance report. The increase comes against the backdrop of a drop in voice traffic in…
NATIONAL Foods Holdings Limited board chairman, Todd Moyo, has expressed concern over the Grain Marketing Board’s (GMB) participation in the local commercial maize meal market. National Foods last week published its financial results for the six months ended December 31, 2017. In a statement accompanying the financials of the listed conglomerate, Moyo said the profit…
THE Ministry of Transport and Infrastructural Development says it is in the process of opening the country’s air space to allow more airlines to service domestic routes. The permanent secretary in the Ministry of Transport, George Mlilo, said the move was due to renewed interest in Zimbabwe by foreign airlines. Mlilo could not reveal the…
ZIMBABWE’S competitiveness as an economy and investment destination on the ease of doing business rankings will remain poor unless foreign investors are able to repatriate dividends, an official from Exim Bank of India has said. Speaking at the recent Zimbabwe Investment Conference, Sanjay Lamba, a regional representative of Exim Bank, said remittances should be a…
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