PADENGA Holdings (Padenga) says demand for its products has held strong and is expected to remain despite the Covid-19 pandemic. The crocodile skins producer is also anticipating to successfully address the various quality challenges that it has had in the past and is “optimistic about further growth prospects. “Demand for defect free skins remains strong…
FIRST Capital Bank (FCB) says it expects its non-funded income to decline during the second quarter of 2020 due to the coronavirus pandemic. It comes at a time banks in Zimbabwe have had to rely more on non-funded income due to hyperinflation. “Covid-19 will impact the business directly and indirectly. Due to the lock-down non-funded…
ZIMPOST says the Covid-19 pandemic has opened opportunities for it to expand its digital operations (e-commerce) in response to the ever-increasing service demands. Sifundo Moyo, the state-owned postal and courier services company’s postmaster general said it has seen a spike in e-commerce volumes lately. “Zimpost is positioning itself to ensure that we increase our presence…
RECENT research from the World Bank estimates that approximately 40-60 million people will be pushed into extreme poverty (number people living on less than USD1.90 a day) in 2020 as a result of the Covid-19 pandemic. This would be the first increase in world poverty in 22 years. While Sub-Saharan Africa (SSA) has been hit…
THE Covid-19 pandemic has shaken every economic cluster to the core and has left the world grappling with economic challenges that dwarf the global financial crisis of 2008. The mining sector has not been spared and has had to quickly reorganise under exceptional circumstances. This shock is also being felt in one of the most…
WILLDALE says it saw a 62 percent decline in sales volumes during the first quarter of 2020 due to declining demand and the coronavirus-induced disturbances. Zimbabwe which is experiencing its worst economic crisis in a decade, with the government forecasting a 15 to 20 percent contraction in gross domestic product, has seen its aggregate demand…
ZIMBABWE could lose a staggering US$6 billion within two years if the economy suffers a double-whammy of Finance minister Mthuli Ncube’s projected 20 percent fall in addition to 2019’s minus-seven percent shrinkage, top economist Victor Bhoroma says. This comes as the Confederation of Zimbabwe Industries has said capacity utilisation is to end the year at…
ZMPLOW Holdings (Zimplow) says it is determined to weather the Covid-19 crisis and see its business continue to expand after the pandemic. The farming implements manufacturer said it has achieved an “encouraging performance” despite the challenges caused by the novel coronavirus. “While we are yet to determine the full extent of the impact of Covid-19…
ACCORDING to the African Corporate Governance Network (ACGN), most African countries (including Zimbabwe) have also not escaped the drive in the world for greater transparency and accountability. Generally, Africa is catching up fast despite being viewed as one of the last frontiers of economic development. Today’s companies exist in the information age and company financial…
THE Covid-19 pandemic has caused several disturbances and serious disruption to business, not mentioning its impact on people’s lives throughout the globe. There are several measures some countries including Zimbabwe have undertaken in order to reduce its impact on people and business. What appears missing for Zimbabwe is the most immediate and critical government intervention…
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