National Report

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…

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…

AUTHORITIES have revised this year’s tobacco production from 300 million kg to 280 million kg due to the El Nino-induced drought effects that persisted until the end of 2024.Last year’s tobacco sales totalled 231.7 million kg. The 2025 tobacco marketing sales will open on March 5.Addressing the media after a pre-inspection tour to assess preparedness…

THE African Development Bank (AfDB) forecasts economic growth of 5,3 percent for Zimbabwe this year, marking a significant recovery from the adverse effects of a severe drought in 2024.The pan-African lender’s projections are slightly lower than the government and the International Monetary Fund’s forecasts of a six percent growth.Economic growth in the southern African nation…

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,…

THE country’s ongoing power outages have severely hampered the growth of the information and communication technology (ICT) sector, driving up costs as consumers look for alternate energy sources, a senior government official has said.Speaking at the CEO Africa Roundtable breakfast meeting recently, ICT deputy minister, Dingumuzi Phuthi said as a result players in the sector…

THE Reserve Bank of Zimbabwe (RBZ) says the collateral registry system recorded 2 481 active registrations with a total principal value of ZiG42,19 billion as of December 31, 2024.The central bank said microfinance institutions emerged as the dominant users of the registry, accounting for 1 185 registrations, followed closely by banks with 1 135 entries.“In…

THE Insurance Council of Zimbabwe in liaison with the Civil Protection Unit has vouched to provide ex-gratia assistance for funeral and medical expenses incurred by the victims of the Beitbridge road traffic accident.Yesterday, a head-on collision between a bus and a commercial truck claimed the lives of 24 people travelling to South Africa, 10 kilometres…

THE Reserve Bank of Zimbabwe (RBZ) says it injected about US$35 million into the interbank foreign exchange market last month to meet the growing demand for hard currency.The central bank has previously said its participation in the interbank market has helped to complement the supply of foreign currency by authorised dealers to meet demand by…

TREASURY says investors under the Bilateral Investment Promotion and Protection Agreements (BIPPAs) will receive the outstanding US$125,9 million in compensation over the next four years.The compensation, related to farms affected by the land reform programme in 2000, will be paid through annual fiscal allocations in the national budgets.The government commenced compensation of BIPPA-protected farms in…