THE Ministry of Environment says Zimbabwe requires approximately US$10,31 billion to implement its climate adaptation actions between 2023 and 2030.The funding gap underscores the urgency of securing substantial funding to mitigate the impacts of climate change and transition to a more sustainable economy.According to Zimbabwe’s Nationally Determined Contribution (NDC3.0) Country Statement, US$4,77 billion is required…
INVICTUS ENERGY Limited this week Monday announced that the Zimbabwe Environmental Management Agency (EMA) had approved the Environmental Social Impact Assessment (ESIA) for pilot prodPilot production activities include the Eureka Gold Mine Gas-to-power Project and incorporates gas extraction, liquefaction, and transport from the Mukuyu gas field, as well as future extraction operations across Special Grant…
Agro-industrial firm CFI Holdings (CFI) says its margins remain under immense pressure due to unfavorable pricing on the formal retail space compounded by higher prices for raw materials.Government regulations for players in the formal sector to adhere to a heavily discounted official exchange rate hemorrhaged the group’s earnings.In its first quarter ended December 31, 2024…
LIQUID Intelligent Technologies has appointed Wellington Makamure as the chief executive for Rest of Africa and Latin America and Lorreta Songola as the chief executive for its Zimbabwe unit, effective March 1, 2025.Makamure, an engineer by profession, has previously served as chief executive for the Zimbabwe and Central Africa region. Songola with 15 years’ experience…
SHAREHOLDERS of Truworths Zimbabwe are set for a crunch meeting on February 25, 2025 to decide on the adoption of a business rescue plan, the company has announced.The main agenda of the meeting will be to effect section 10 of the corporate rescue plan, more specifically adopting Valfin Investments taking up shareholding for US$1 (One…
ZIMBABWE’S economic activity has started recovering after the El Niño-induced drought.Growth slowed from 5,3 percent to an estimated 2 percent in 2024, as the drought lowered agricultural output by 15 percent. This was compounded by reduced electricity production and declining prices for key mineral exports (platinum and lithium).That said, strong remittances continued supporting activity in…
THE plea by retailers for a dedicated ring-fenced financing facility is not merely a request for relief but a crucial intervention necessary to safeguard an industry teetering on the brink of collapse.As formal retailers grapple with working capital constraints, supply chain disruptions, and a suffocating foreign currency shortfall, the government must acknowledge that inaction risks…
THE Reserve Bank of Zimbabwe (RBZ)’s downward review of foreign currency retention thresholds for exporters by five percentage points could compromise the viability of exporting companies, agro-industrial concern, Tanganda Tea Company (Tanganda) has warned.The RBZ governor John Mushayavanhu in his monetary policy statement presented a fortnight ago slashed exporters’ foreign currency retention levels to 70…
OVER 260 youth from across the African continent, including four Zimbabwe participants, are set to benefit from a wealth of investment opportunities at the upcoming African Youth Leadership Diplomatic Conference…
RETAILERS have implored the government to create a ring-fenced financing facility for the sector to enable it to navigate a plethora of challenges it is facing and avoid further closure of businesses, The Financial Gazette can reveal.The call comes as the formal retail sector stands on the precipice faced with working capital constraints and supply…
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