THE Procurement Regulatory Authority of Zimbabwe (Praz) has launched a methodology for assessing procurement systems, ‘MAPS’, in a bid to bolster accountability and fiscal responsibility.This strategic initiative marks a pivotal step in the nation’s ongoing public finance management reforms, aimed at enhancing transparency, accountability and efficiency into the way public accounts acquire goods and services.…
TOBACCO Industry and Marketing Board (TIMB) says it has engaged major Chinese investors to improve domestic processing and manufacturing of the golden leaf.In an interview with The Financial Gazette, TIMB chief executive officer Emmanuel Matsvaire said this was part of the organisation’s bid to partner with countries that have cutting edge in value addition aspects.“In…
RAINBOW Tourism Group (RTG) has entered the lucrative South African (SA) hospitality market following the acquisition of a US$5,6 million strategic property in Cape Town.The seven-storey commercial property is set for conversion into a hotel in the mother city, marking a major milestone for the group’s regional offensive strategy. This will ensure that the hotelier…
ZIMBABWE’s tobacco sector is positioning itself for sustained growth and a rebound in the 2025-26 cycle, buoyed by exceptionally strong financial and operational results in the recently concluded season.According to seasonal statistics from the Tobacco Industry Marketing Board (TIMB), the sector generated a record US$1,17 billion from the sale of 353 million kilogrammes.Commenting on the…
ZIMTRADE has launched a targeted cluster programme to transform rural businesses into export-ready entities. This comes as the government has positioned rural industrialisation as a strategic priority towards an upper-middle-income economy. This is being advanced through targeted policy measures and interventions designed to unlock the economic potential of non-urban regions. Clustered assistance helps producers by…
CAR distributor Toyota Zimbabwe has merged with CFAO Motors in a strategic move that will expand the company’s reach and create CFAO Mobility Zimbabwe.Over the past decade, CFAO has been working to unify its operations across Africa. The company has systematically combined its various business units, brands, and operations to form new mobility companies in…
HIPPO Valley Estates (Hippo Valley) says the surcharge on sugar content in beverages has drastically reduced group sales volumes as manufacturers are reformulating products to cut costs.The sugar tax which came into effect last year is calculated as US$0,001 per gram for ready to drink beverages and US$0,0005 per gram for cordials.As a result, beverage…
ARISTON Holdings is implementing a series of cost-control actions, central to its broader strategy of restructuring business operations and enhancing profit margins. In a statement accompanying the company’s financial results for the six months ended March 31, 2025, group chairman Alexander Jongwe said the operating environment is expected to remain challenging, therefore they will continue…
CLOTHING firm, Edgars Stores (Edgars) is seeking to penetrate the low-income market through the expansion of Express Stores, a development that is set to underpin its growth strategy.Zimbabwe’s formal clothing retail companies have seen their market share drastically deteriorate due to the diminishing consumer purchasing power in a difficult economy that has largely tilted towards…
WITH a significant increase in national food production, oversupply in mass markets is leading to a rise in post-harvest losses, which is squeezing farmers’ profits and threatening their livelihoods.Knowledge Transfer Africa Zimbabwe chief executive Charles Dhehwa said that post-harvest losses represent a significant challenge for farmers, particularly smallholders, with estimates ranging from 20-40 percent of…
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