ZIMPLOW says its rationalisation at Mealie Brand and TrenTyre is expected to bring the business units back to profitability, translating to increased group earnings. The Victoria Falls Stock Exchange-listed group embarked on a cost containment drive to preserve cash flows, which included a group-wide staff rationalisation exercise, closure of non-performing branches and branch consolidation at…
ZIMBABWE will maintain robust economic growth between 2026 and 2030, averaging 4,5 percent annually, according to research firm Fitch Solutions.This aligns closely with Africa’s regional average of four percent, positioning Zimbabwe as a growth leader in southern Africa.The head of Operational Risk and South Africa Research at BMI, Chiedza Madzima, shared these projections while noting…
ZIMBABWE’s gold export earnings for January and February this year reached US$240,1 million, 8,69 percent above US$220,9 million realised during the first two months last year, latest figures from the Reserve Bank of Zimbabwe (RBZ) show.The increase in export earnings has been largely driven by record prices of bullion this year, which surpassed the US$3000…
AGRICULTURAL Finance Corporation (AFC) Holdings wants to monetise its vast tracts of peri-urban land during the first half of 2025 as it seeks to unlock capital to finance operations across its subsidiaries. AFC, which was established following the restructuring of Agribank in 2021, is wholly owned by Mutapa Investment Fund, the country’s sovereign fund. It…
THREE months after the 2025 national budget was presented, business leaders and economists are urging the government to reassess several measures, arguing they have increased compliance burdens on formal businesses while failing to rein in the informal sector.In December, Finance Minister Mthuli Ncube introduced new taxes on fast food, plastic bags, and gambling, alongside higher…
AUTHORITIES want to establish a Victoria Falls International Financial Services Centre to attract international companies to invest in various sectors of the economy. According to the latest Government Gazette, the centre would be headed by President Emmerson Mnangagwa together with Finance and Justice ministers, Mthuli Ncube and Ziyambi Ziyambi. “There is hereby established pursuant to…
OLD Mutual Zimbabwe (Old Mutual) will focus on boosting uptake of pension and long-term savings products as it seeks to strengthen its capital base, a top company executive has said. By encouraging individuals to prioritise their financial futures, the company seeks to enhance its own financial stability and play a pivotal role in fostering national…
ZIMBABWE’S mining sector remains the primary driver of investment approvals, accounting for the bulk of the US$542,92 million in licences processed by the Zimbabwe Investment Development Agency (ZIDA) in the fourth quarter of 2024. Speaking at the Swedish-Zimbabwean Sustainability in Mining Expo, ZIDA’s chief executive, Tafadzwa Chinamo, confirmed that mining continues to outpace other sectors,…
ZIMBABWE’S diamond production rose by 16 percent in the fourth quarter of 2024, reaching 1,42 million carats compared to 1,22 million carats in the same period last year, according to latest figures.The quarterly output also marked a 26 percent increase from the 1,12 million carats recorded in the third quarter of 2024.The Reserve Bank of…
ZIMBABWE’S lithium production remained subdued in the fourth quarter of 2024, reaching 338 038 tonnes, as prices continued to decline, the Reserve Bank of Zimbabwe (RBZ) has reported.During the quarter, lithium prices fell by 15,1 percent, dropping from an average of US$11 064,56 per ounce in the previous quarter to US$9 393,30 per ounce. The…
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