THE Food Crops Contractor’s Association (FCCA) is targeting the cultivation of 25 000 hectares in the 2025-26 winter season to meet the industry’s requirement of between 250 000 and 300 000 tonnes annually.Despite the government’s efforts to boost wheat production, resulting in a harvest exceeding 500 000 tonnes last season, a persistent shortage of high-quality…
THE recently launched Zimbee project, backed by a €1,5 million (US$1,63) investment, is set to transform honey production in Zimbabwe by increasing output to meet domestic demand while positioning the country as a competitive player in the global export market.With a strong emphasis on sustainability and quality enhancement, the Zimbee project, a partnership between Expertise…
THE government is urging private investors to provide long-term capital to support irrigation development, as the country moves away from rain-fed agriculture in response to climate change, which has been affecting the sector.Zimbabwe has extensive water resources, with the potential to irrigate over two million hectares. However, fully harnessing this potential requires significant investment in…
FIRST Capital Bank shrugged off the impact of the local currency devaluation to grow its asset base by 124 percent during the nine months to October 31, 2024 thanks to a strategic boost in foreign currency holdings.The near 43 percent devaluation of the ZiG by the authorities in September 2024 decimated the financial sector balance…
THE government is developing tailored climate resilience guidelines for state enterprises and parastatals (SEPs) to equip these organisations with effective adaptation strategies, ensuring their operations remain sustainable.By prioritising climate resilience, the government aims to strengthen the ability of SEPs to withstand environmental challenges, promote sustainable practices, and contribute to national economic stability.Speaking at a stakeholder…
Staff WriterTHE Tobacco Industry Marketing Board (TIMB) is making significant strides in promoting the value addition of tobacco, a strategic move set to boost revenue from the country’s golden leaf production.As the industry adapts to shifting market dynamics, TIMB’s initiatives to enhance value-added processes are expected to improve tobacco producers’ profitability and strengthen the sector’s…
THE Treasury has injected US$7,5 million and ZiG100 million into the Grain Marketing Board (GMB) to pay for wheat deliveries, marking a significant boost for the agricultural sector.This latest disbursement raises the total payments for wheat deliveries to US$18 million and ZiG215 million.The GMB has now cleared its debt from the 2023 wheat intake and…
THE Reserve Bank of Zimbabwe (RBZ)’s downward review of foreign currency retention thresholds for exporters by five percentage points could compromise the viability of exporting companies, agro-industrial concern, Tanganda Tea Company (Tanganda) has warned.The RBZ governor John Mushayavanhu in his monetary policy statement presented a fortnight ago slashed exporters’ foreign currency retention levels to 70…
THE newly-introduced 70 percent foreign currency retention policy has sparked frustration among exporters, who warn it will erode earnings at a time when supply chain services and products are priced in foreign currency.Designed to boost the country’s foreign currency reserves, the regulation has inadvertently created challenges for exporters who depend on immediate access to foreign…
Zimbabwe Stock Exchange (ZSE) listed sugar processor Hippo Valley Estates (Hippo) is feeling the pinch from the escalating operating costs that are significantly squeezing profit margins further compromising its financial performance.The group, just like its peers in the agro-manufacturing industry is grappling with inflationary pressures and currency mix dilemmas, amid calls by industry captains for…
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