THE hospitality sector in Zimbabwe started off on a slow start this year, with businesses feeling the impact of extended holiday closures and delays in reopening across various organisations.According to the Hospitality Association of Zimbabwe (HAZ), these factors have contributed to a subdued first quarter.The industry faces numerous challenges, chief among them inconsistent power supply…
AS ZIMBABWE ushers in another promising tobacco marketing season, the calls for structural reforms in the industry can no longer be ignored.With a projected harvest surpassing 280 million kilograms and foreign currency earnings expected to exceed US$1 billion, authorities must address the underlying vulnerabilities that threaten the long-term sustainability of this vital sector.The prosperity of…
ZIMBABWE’s platinum output reached an all-time high of 512 000 ounces in 2024, a one percent increase from 507 000 ounces recorded in the previous year, data from the World Platinum Investment Council (WPIC) indicates.In its quarterly global production report, the WPIC said the record production was achieved despite a temporary reduction in output from…
PPC says its Zimbabwe operations increased its year-to-date dividend payout to US$13 million, up from US$11 million in the comparable period, driven by a surge in free cash flow generation.The cement producer said PPC Zimbabwe reported a nine percent decline in volumes during the period to January 31, 2025, mirroring the trend seen at the…
TANGANDA Tea Company (Tanganda) has embarked on a strategic initiative to implement grid-tying and net metering arrangements to optimise excess power generated from its solar plants while cutting significantly on energy costs.The move is also expected to insulate the group from persistent electricity cuts which industry experts say have, on average, cut by half the…
RAINBOW Tourism Group Limited (RTG)’s acquisition of Montclair Hotel and Casino in the eastern highlands is at an advanced stage, with the purchase agreement signed, a top company executive has said. The deal is a strategic move that aligns with RTG’s five-year strategy and growth objectives, enabling the hotelier to enhance its footprint in the…
INNBUCKS Microbank Limited (InnBucks)’s decision to charge a flat US$1 monthly fee on unlimited transactions to customers on its wallet service boosted active users, but significantly cut back on fees income during six months to December 31, 2024. The model dubbed — KaOne subscription — resulted in fee and commission income dropping by close to…
ZIMBABWE recorded a decline in gold deliveries in February, with total output falling to 2 568,25 kg from 3 134,35 kg in January.The drop was driven by a significant decrease in small-scale mining contributions, which fell from 2 265,55 kg to 1 640,31 kg.While primary producers saw a modest increase from 868,80 kg in January…
ZIMBABWE Stock Exchange-listed diversified company, TSL has pulled out of two joint-venture businesses of farming and vehicle rental as it streamlines operations to focus more on its core tobacco handling business.The discontinued operations generated US$6,03 million in revenue for the year ended October 31, 2024 which was 29,07 percent above previous year’s US$4,67 million. However,…
THE European Investment Bank (EIB Global) and Stanbic Bank Zimbabwe have launched a €20 million credit line, offering tailored long-term loans to small businesses.The credit is designed to stimulate economic growth and address the persistent funding challenges local businesses face.The strategic partnership aims to unlock crucial financial resources for small and medium-sized enterprises (SMEs), a…
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