ZIMBABWE has recorded a fourfold increase in Liquefied Petroleum Gas (LPG) consumption since 2015, with 2024 marking the highest level yet at 77,43 million kilograms (kgs), according to the latest figures from the country’s energy regulator.This surge underscores the nation’s growing dependence on LPG as a fuel source. The post-pandemic recovery has accelerated this growth,…
Agro-industrial firm CFI Holdings (CFI) says its margins remain under immense pressure due to unfavorable pricing on the formal retail space compounded by higher prices for raw materials.Government regulations for players in the formal sector to adhere to a heavily discounted official exchange rate hemorrhaged the group’s earnings.In its first quarter ended December 31, 2024…
Cable manufacturer Cafca says it wants to reduce its carbon footprint by exploring cleaner energy options and also end its over-reliance on the unreliable national power grid.As production output increased by six percent, during the year ended September 30, 2024 (FY 24), its greenhouse gas emissions (GHGs) also ticked up by eight percent, underscoring the…
PLASTIC and pipes manufacturer, Proplastics Limited (Proplastics), says its margins, normally between 15 and 20 percent, are being squeezed by a myriad hurdles, mainly rising operational costs.High production costs ravaging most companies in the country have undermined their competitiveness as they pass on the input cost burden to consumers.The group largely attributed the costs of…
ZIMBABWE’s current account surplus is expected to rise by 22 percent, from US$501,2 million in 2024 to a projected US$611,6 million in 2025, driven by strong export growth and increased remittance inflows, according to the latest report.The country’s balance of payments (BoP) has experienced significant shifts in recent years, reflecting both structural improvements and ongoing…
THE Reserve Bank of Zimbabwe (RBZ) has announced measures aimed at reducing cash hoarding and encouraging digital transactions, including increasing the annual limit on prepaid international debit and credit cards from US$500 000 to US$1 million.The move is expected to enhance business operations and curb reliance on cash for cross-border transactions.Economic instability and past experiences…
THE African Export-Import Bank (Afreximbank) has entered into a significant strategic partnership with CBZ Holdings and CBZ Bank, signing a US$50 million facility to support the bank’s short-term financing needs.Despite securing US$115 million from three development finance institutions in 2024, the bank acknowledges that these funds have not been sufficient to address the severe liquidity…
NATIONAL Foods Holdings Limited (Natfoods) will intensify the domestication of raw material supply chains to reduce reliance on imports and support local industries, a top company executive has said.The group operations span from flour and maize meal milling, prepacking, dry groceries and manufacturing of stock feed.Since the advent of the geo-political tensions in eastern Europe…
CBZ Holdings Limited (CBZ) says it has completed the second and final phase of the restructuring exercise which began last year following major acquisitions by the group.During the first phase, 13 senior executives were placed on garden leave with mutual termination of their contracts executed by December 31, 2024 before the second phase executed in…
KAVANGO Resources plans to raise £6,56 million (US$8,17 million) through the issuance of 93,02 million new shares at £0,007 each, with a focus on its projects in Botswana’s Kalahari Copper Belt (KCB) and the Hillside and Nara projects in Zimbabwe.The company is actively developing key projects in Botswana, particularly the KCB, where it has commenced…
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