WEAKER than expected tobacco auction floor prices have dampened farmers’ hopes of translating this season’s high output into meaningful earnings. Experts who spoke to The Financial Gazette — the country’s number one business publication and prime voice for industry and commerce — said this week that increased global supply, subdued demand, limited buyer competition and…
THE Minerals Marketing Corporation of Zimbabwe (MMCZ) says it is on track to meet and potentially exceed its annual revenue projection of US$3,5 billion following a record performance in the first quarter of 2026. Data released by the MMCZ shows that total mineral sales for the first three months reached 1,288,761 metric tonnes, generating a…
MUTAPA Investment Fund (MIF) is confident of servicing US$1,9 billion Treasury Bills (TBs) issued by the government for the acquisition of a 35 percent stake in Kuvimba Mining House in 2024, driven by rising mineral prices and asset value growth. The TBs are payable over 10 years with a grace period of three years, commensurate…
THE National Social Security Authority (Nssa) is assessing its capacity to implement a long-term pension adjustment after granting pensioners a 100 percent increase in their May allowance as an interim relief measure. The temporary boost comes as many pensioners continue to struggle on monthly payouts of about US$70 to US$80, which fall far short of…
FIDELITY Gold Refinery (Fidelity) says it is optimistic about reaching the targeted 50 tonnes of gold this year, up from 46,7 tonnes achieved in 2025. Fidelity general manager Peter Magaramombe told the Public Accounts Committee this week that the target will be buoyed by supportive government policies and expanding mining operations. “Last year…we achieved 46,7…
PREMIER African Minerals (Premier) has raised approximately £1 million through a new share subscription as it pushes ahead with commissioning works at its flagship Zulu Lithium and Tantalum Project in Zimbabwe. The AIM-listed miner issued 5 405 405 405 new ordinary shares at 0,0185 pence each in a subscription aimed at supporting commissioning activities, operating…
PRESIDENT Emmerson Mnangagwa says Zimbabwe’s gold reserves held at the Reserve Bank of Zimbabwe (RBZ) have increased to 4,48 tonnes, strengthening the country’s efforts to underpin monetary sovereignty through the ZiG currency. The ZiG, introduced by the RBZ in 2024, is backed by gold and other precious minerals as Zimbabwe moves towards a mono-currency system…
THE Zimbabwe National Road Administration (Zinara) says it disbursed over ZiG2 billion to local authorities for road infrastructure development and maintenance between January and March this year. This comes as the authority disbursed ZiG3,8 billion to local authorities for road rehabilitation in the first six months of last year. In its disbursement report yesterday, Zinara…
THE government needs to do more to cure the many challenges that have bedevilled the insurance, pensions and medical aid industry for decades, experts say. Speaking to The Financial Gazette — the country’s number one business publication and prime voice for industry and commerce — the experts expressed concern this week that the changes that…
DIESEL consumption increased by 20 percent, while petrol consumption declined by six percent in the first quarter of 2026 amid rising pump prices owing to the Middle East crisis, according to data from the Zimbabwe Energy Regulatory Authority (Zera). This comes as the government has implemented deeper levy reductions on diesel than on petrol, while…
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