RIOZIM’s associate, RZM Murowa (Murowa) says its revenue and profitability were negatively affected by receding global diamond prices despite a slight uptick in production during the six months to June 30,2024.Advertisements Mining activities from the pits remained suspended as the company is currently engaged in extensive exploration targeted at extending the life of its pits.…
AFRICAN Distillers Limited (Afdis) volumes shot up by 11 percent during the half year ended September 30, 2024 driven by ready-to-drink and wine segments which grew by 22 percent and 13 percent respectively. Advertisements Afdis chairman Matlhogonolo Valela said in a statement accompanying the company’s financials that the ready-to-drink volume was influenced by promotions and…
FITCH Solution has projected a sharp drop for Zimbabwe’s economic growth from an estimated 5 percent in 2023 to just 1,9 percent in 2024. Advertisements The British think-tank’s projection aligns with similar outlooks from the government and the World Bank, both anticipating a sharp economic decline in 2024, largely due to reduced agricultural output from…
ZIMBABWE’S diamond production surged by 22,2 percent in the second quarter of 2024, reaching 1,47 million carats, compared to 1,2 million carats in the same period last year, according to the latest data. Advertisements This increase aligns with Zimbabwe’s recent upward trend in diamond output, bolstered by reserves estimated at over 800 million carats. Production…
Zimbabwe’s currency, the Zimbabwe Gold (ZiG), may achieve stability only when demand for it reaches critical levels within the economy, says Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee member Persistence Gwanyanya. Since its introduction in April, the ZiG has faced turbulence, recently devaluing from around 14 to nearly 25 to the US dollar. This…
THE Central Mechanical and Equipment Department (CMED) says it plans to introduce interest rates for clients who delay payments starting next year. This comes as the state enterprise has faced financial difficulties due to delayed payments from government ministries and departments.Advertisements “To mitigate against that, we will be asking for shareholder consent to reciprocate what…
THE government has announced its commitment to implementing effective policy interventions to support local industries in a bid to create a fair business environment for all sectors, with a particular focus on small and medium enterprises (SMEs).Advertisements Speaking at a strategic planning workshop that reviewed past achievements and challenges, Industry and Commerce minister, Mangaliso Ndlovu,…
Prisca Tshuma Staff WriterAdvertisements ZIMBABWE’S trade deficit grew to US$207,6 million in September 2024, marking a 4,2 percent increase from August’s figure of US$199,1 million, according to the latest data from the Zimbabwe National Statistics Agency (Zimstat). Both imports and exports declined in the month under review, widening the deficit. A trade deficit occurs when…
THE government and the European Union (EU) have signed four agreements worth 75 million Euros (over US$80 million) to support to support agriculture, conservation and building community resilience.Advertisements “Zimbabwe is grateful for the EU support, and today marks another milestone in our cooperation. The support is building upon and reinforcing the investments made under the…
HIGH-end custom cabinet maker Oppein Group says its local operations are progressing well in just two years after entering the country underpinned by a surge in demand for luxury furnishings.
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