ZIMBABWE will maintain robust economic growth between 2026 and 2030, averaging 4,5 percent annually, according to research firm Fitch Solutions.This aligns closely with Africa’s regional average of four percent, positioning Zimbabwe as a growth leader in southern Africa.The head of Operational Risk and South Africa Research at BMI, Chiedza Madzima, shared these projections while noting…
ZIMBABWE’S diamond production rose by 16 percent in the fourth quarter of 2024, reaching 1,42 million carats compared to 1,22 million carats in the same period last year, according to latest figures.The quarterly output also marked a 26 percent increase from the 1,12 million carats recorded in the third quarter of 2024.The Reserve Bank of…
RAINBOW Tourism Group (RTG) bolstered its balance sheet during the year ended December 31, 2024 after its right-of-use assets increased more than 400 percent to US$968 765 from US$185 984 in 2023.Coupled with recently acquired equipment and developments on properties, the group’s total assets gained 19,6 percent to settle at US$64,515 million from US$53,954 million…
THE Zimbabwe Association of Dairy Farmers (ZADF) has forecast a 15 percent rise in milk production this year, driven by an expanding herd and strategic investments across the sector.Last year, the country’s milk production increased by 15 percent to 114,69 million litres, up from 99,82 million litres in 2023.However, it fell short of the annual…
TANGANDA Tea Company (Tanganda) is setting its sights on the far east markets, mainly China, to export avocados and improve foreign currency earnings.The agro-industrial concern exports to more than 25 countries around the world and the more than one billion populated-Asian giant presents massive opportunities.To execute the strategy, insiders say Tanganda’s senior members have attended…
LONDON Stock Exchange-listed Kavango Resources with gold projects in Zimbabwe, says it has completed its initial resource drilling program at Prospect 3, which is part of the Hillside gold project in Matabeleland South.Operating through its Zimbabwean subsidiary, Kavango Zimbabwe, established in July 2023, the company is targeting several historic high-grade gold mines in the Matabeleland…
ZIMPLATS increased its total borrowings from US$60 million to US$64,5 million during the half-year ended December 31, 2024 to finance operations and expansion projects, the company has said.Accordingly, the company made new drawdowns totaling US$9 million to finance its operations and expansion projects, while also repaying US$3,2 million in debt during the period.The loans were…
EXPORTING companies say the five-percentage point increase in foreign currency surrender threshold to 30 percent by the government last month has put a heavy discount on operations and they want it reduced to improve competitiveness. The new measures dictate that exporting companies will now retain 70 percent of their foreign currency proceeds with the remainder settled…
MEIKLES Limited (Meikles)’s diesel consumption grew by 53 percent to 3,12 million litres in 2024 from 2,04 million litres in the prior year primarily driven by persistent power outages which necessitated increased use of diesel-powered generators.The growth in diesel consumption means additional operating costs for the retailer — which also requires huge volumes for its…
THE gap between what many Zimbabweans save and what they will need to be comfortable when they are no longer able to work or hustle is growing wider, experts warned yesterday.This comes as planning for retirement has never mattered more for those lucky enough to work or own businesses, as Zimbabweans are generally living longer,…
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