ZIMTRADE has conducted a market scan in Uganda as part of efforts to strengthen trade ties with the country.The scan, primarily carried out in Uganda’s capital, Kampala, is part of ZimTrade’s broader strategy to diversify Zimbabwe’s export markets and gain access to non-traditional trading partners.“The scan, supported by the Ministry of Foreign Affairs and International…
THE Southern Cotton Company has urged cotton farmers to increase investment in value addition, highlighting significant potential for expansion within the cotton industry.Southern Cotton Company managing director, Caos Nzenze, stated that most ginners currently sell seed from seed cotton without processing it further.“There is substantial capacity and opportunity to expand and develop value addition. At…
THE tight monetary stance taken by the Reserve Bank of Zimbabwe (RBZ) has adversely impacted battery and stationary maker Amalgamated Regional Trading (ART)’s operations resulting in a 11 percent decline in revenue for the first quarter ended on December 31,2024, the group has announced.The Zimbabwe Stock Exchange (ZSE)-listed concern also saw its sales volumes for…
THE Confederation of Zimbabwe Industries (CZI) has said that the lack of incentives for cotton production is a significant barrier to the industry’s growth.In an interview with The Financial Gazette, CZI’s chief economist, Cornelius Dube, stated that increasing cotton output will provide greater opportunities for value addition.“The current challenge is that there are no incentives…
NAMPAK Zimbabwe (Nampak) says overall volumes withdrew 23 percent during the first quarter to December 31, 2024 following supply disruptions from social unrests in Mozambique as well as waning demand due to increased competition.The skirmishes in Mozambique following contested Presidential election results in October last year resulted in significant disruption to trading activity at its…
INVESTORS on the local capital markets should reduce their exposure to formal retail stocks, where currency and pricing dynamics continue to depress performance and opt for defensive stocks with proven good management, financial services firm IH Securities has said.The analysts anticipate 2025 to be another year of regulatory and monetary uncertainty, which will impact on…
THE introduction of a US dollar-denominated deposit facility (USDDDF) will protect exporters from potential foreign exchange losses on the surrender portion of their earnings, research firm FBC Securities has stated.The facility was introduced in the 2025 Monetary Policy Statement to safeguard value preservation.“Exporters with no immediate use for the Zimbabwe Gold (ZiG) equivalent of the…
THE Cotton Company of Zimbabwe (Cottco) has engaged relevant authorities over the payment of US$5,6 million in legacy debts owed to farmers.Cottco’s chief executive, Rockie Mutenha, confirmed that the outstanding debts date back to the 2022-2023 period.“… we acknowledge that we owe farmers US$5,6 million, half of which must be paid in ZiG. We are…
THE Zimbabwe Revenue Authority (ZIMRA) has launched an employee management module under its TaRMS platform to streamline employee registration and earnings declarations, making the tax process more efficient for employers.The new module came into operation in January 2025, coinciding with the submission of PAYE returns.According to a statement from ZIMRA, the module introduced several key…
WILLDALE is optimistic about securing funding for the upgrade of its production plant, aimed at enhancing its competitiveness, particularly in the common brick market.The firm, however, did not indicate how much it seeks to raise from financiers to complete the upgrades needed to modernize its operations.The brick-making industry is also battling “unfair” competition from unregulated…
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