ZIMBABWE is losing as much as US$9 billion each year by exporting raw tobacco instead of processing it locally, a senior government official has warned. The country’s tobacco sector has hit a historic peak, producing a record 354,9 million kilogrammes this year, earning growers more than US$1 billion. Addressing stakeholders at the Zimbabwe Agricultural Society…
NATIONAL Tyre Services (NTS) anticipates resuming direct procurement of budget tyre brands from China and implementing strategic cost reductions to restore the company’s profitability by the end of next year. Last year, the group announced it had restarted sourcing budget tyres from China in response to increasing competition from informal players, which was eroding its…
THE government is calling for increased private bank investment into agriculture, the nation’s economic backbone, while scaling up finance schemes to mitigate lending risks. Speaking at the launch of the…
ZIMBABWE expects a new, lower yield curve for its gold-backed ZiG currency to take shape in 2026 as inflation falls sharply, with a pivotal bond-auction system scheduled to begin in January. A yield curve plots interest rates on government bonds of varying maturity, showing how short-term and long-term borrowing costs relate within an economy. Presenting…
ZIMBABWE fell significantly short of its 2025 development assistance target, receiving only US$386,1 million between January and September, well below the planned US$500 million, according to the latest Treasury data. Bilateral partners provided US$240,77 million, or 62,3 percent of total inflows, while multilateral institutions disbursed US$145,33 million, representing 37,7 percent. The decline in Western support,…
AIR Zimbabwe recorded approximately 5 000 passengers on its Harare-Mutare route since launching the service during the Sanganai Hlanganani World Tourism Expo in September, an executive said. The national airline made the route permanent after an initial trial for the expo, citing strong demand from travellers. Air Zimbabwe chief executive Edmund Makona described the route…
ZIMBABWE is prioritising policy reforms and innovative financing to attract investment into solar power, while leveraging its lithium reserves to enhance its role in renewable energy storage. This comes as the country is yet to fully harness its renewable energy potential, including solar and wind power, which could offer a sustainable and reliable source of…
AXIA Corporation (Axia) is pursuing expansion into new regional markets as part of its growth strategy, aiming to capitalise on emerging economic opportunities. The group, which owns TV Sales & Home (TVSH) and Transerv, already has a regional footprint through its distribution and logistics subsidiary, Distribution Group Africa (DGA), which operates in Zimbabwe, Zambia and…
KUVIMBA Mining House (KMH) says it has so far spent about US$3 million to extend the operational lifespan of its three gold mines. Kuvimba’s gold cluster comprises Freda Rebecca Gold Mine, Shamva Gold Mines and Jena Mines. Freda currently has a mine life of about five years. The primary goal is to extend the mine’s…
THE Civil Aviation Authority of Zimbabwe (CAAZ) says a new round of international air-service negotiations has laid the groundwork for attracting more airlines and cutting operating costs as the country works to make its aviation sector more competitive. Soaring operational expenses, fuel prices, airport charges and currency instability continue to squeeze the industry, driving up…
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