AdvertisementsLISTED milk products processor, Dairibord Zimbabwe (Dairibord)’s business performance for the six months to June 30, 2024 was adversely affected by several fiscal changes introduced at the beginning of the year which affected some of its key product offerings.Advertisements The group was mainly affected by the introduction of the sugar tax at US$0,001 per gram,…
AdvertisementsSUGAR producer Hippo Valley Estates has reported a staggering 767 percent increase in its pension scheme contributions, reaching ZWL344,91 million for the fiscal year ending March 31, 2024, up from ZWL39,78 million in the previous year. Advertisements The company’s pension contributions are predominantly directed towards two major schemes- the Hippo Valley Pension Fund and the…
AdvertisementsMASIMBA Holdings’ revenue increased by 30 percent to US$31,5 million for the half year to June 30, 2024, compared to US$24,1 million recorded in the same period in 2023 driven by a solid order book in the roads and earthworks, mining, housing infrastructure and buildings segment.Advertisements The group said the proportion of the US dollar-denominated…
AdvertisementsUGANDA Airlines has sets its sights on Victoria Falls and Bulawayo as its next destinations in Zimbabwe as part of the airline’s expansion plan.Advertisements This follows the successful launch of new flights from Entebbe to Harare and Lusaka, with three flights a week. The airline uses an Airbus A330-800neo and Bombardier CRJ-900 aircraft for these…
AdvertisementsZIMBABWE’S manufacturing sector is being crippled by a thriving “pavement economy,” where smugglers flood the market with essential commodities like soap, evading Value Added Tax (VAT) and leaving local producers at a 15 percent disadvantage.Advertisements Smugglers sell soap on the streets for as little as US$1, while local manufacturers, burdened by VAT, are forced to…
AdvertisementsTHE Reserve Bank of Zimbabwe (RBZ) has urged banks to integrate sustainability into risk assessments and help businesses manage environment-related risks. Experts emphasise that prioritising sustainability is crucial for Zimbabwe to avoid past mistakes and secure a prosperous future for future generations. Zimbabwe, like much of the African continent, is dealing with the impacts of…
AdvertisementsTHE Confederation of Zimbabwe Retailers (CZR) has urged the government to ease import restrictions on essential goods to help stabilise prices, as consumers face rising costs driven by ongoing exchange rate issues that continue to strain the retail and wholesale sectors.Advertisements In the past, the government has responded to similar economic challenges by suspending customs…
AdvertisementsZIMBABWE’S milk production hit 10,15 million litres in August 2024, a seven-year monthly high, thanks to increased dairy herds and strategic investments.Advertisements According to the Agriculture ministry’s dairy services department, milk production during the month was up by 15,24 percent compared to 8,81 million litres in August 2023. This figure is also a two percent…
AdvertisementsCONCERNED economic experts have made a fresh call to authorities to urgently consider liberalising the forex market in response to the country’s currency volatility and rising inflation.Advertisements Speaking to The Financial Gazette — Zimbabwe’s number one business publication and prime voice for local industry and commerce — the experts said this week that doing this…
AdvertisementsDIVERSIFIED insurance firm, First Mutual Holdings Limited (FMHL) witnessed increased preference of USD-denominated products from clients in the half year ended 30 June 2024, as they sought to retain value of insurance benefit amid signs of local currency volatility. Advertisements The period was characterized by the rapid devaluation of the Zimbabwe dollar during the first…
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