AdvertisementsTHE Zimbabwe Revenue Authority (Zimra) has reported a significant increase in the interception of prohibited goods, seizing items worth US$725 423 in 2023 alone. This represents a 101 percent increase compared to the US$361 420 worth of prohibited goods detected in 2022. Zimra attributes this success to the expanded presence of its canine unit (K9)…
AdvertisementsFIRST Mutual Properties (FMP) says construction of its US$6 million Arundel Office Park block will be complete by September this year and expects a rental yield of either 7 or 8 percent. Advertisements This comes as most traditional blue-chip tenants are moving away from the growing disorderliness in the Central Business District (CBD) mainly characterised…
AdvertisementsHOSPITALITY firm Rainbow Tourism Group (RTG) says it has so far realised US$500 000 in profit from operations during the first five months to May 31, 2024, surpassing earlier projections.Advertisements Players in the tourism and hospitality industry have become accustomed to slow business performance during this time of the year with visitors traditionally peaking in…
AdvertisementsVICTORIA Falls Stock Exchange (VFEX)-listed diversified manufacturing firm Zimplow Holdings (Zimplow) is optimistic about the second half of the year (H2) despite a difficult start as it anticipates reaping the rewards of its diversification and revenue growth strategies.Advertisements The firm established new distributorships and solidified its position as a leading equipment distributor after the cessation…
AdvertisementsTHE Zimbabwe Revenue Authority (Zimra) has collected ZiG34.4 billion in revenue, underpinned by improved compliance and policy reforms.Advertisements The country’s resource mobilisation strategy is currently focused on the ordinary citizen due to low domestic output, continued foreign isolation, and limited credit availability. “Our year-to-date (25 June 2024) net collections are sitting at ZiG34,4 billion, against…
AdvertisementsZIMBABWE’S liquefied petroleum gas (LPG) consumption soared by 65 percent to 6,52 million kilogrammes (kg) in May 2024 compared to the same month in 2023, according to the latest data from the country’s energy regulator. Advertisements This surge in LPG usage, driven primarily by industrial and residential demand, suggests that ongoing power cuts are significantly…
AdvertisementsDESPITE the impact of the El Nińo-induced drought, dairy industry players in Zimbabwe anticipate a 13,2 percent increase in milk production, reaching 113 million litres in 2024. Advertisements While production rose nine percent to 99,82 million litres in 2023, this fell short of the projected 100 million litres and the target of 103 million litres.…
AdvertisementsOLD Mutual Zimbabwe (OMZ) says the demand for real estate investments remains high, with a focus on sustainability.Advertisements The diversified financial services group recently launched a US$12 million upmarket housing project in Prospect, Harare, aimed at providing modern living for local residents. Group chief executive, Samuel Matsekete, speaking at the project’s groundbreaking ceremony, emphasised the…
AdvertisementsMASHONALAND Holdings (Mash Holdings) expects to grow its total asset portfolio by around 50 percent to reach US$120 million in the next five years.Advertisements The property developer has a five-year diversification strategy expected to boost its asset portfolio from US$80,7 million it recorded at the close of 2023 to US$120 million by 2027. This was…
AdvertisementsPROPLASTICS says its tank manufacturing business, which started at the end of last year through dry testing, is now contributing positively to volume performance.Advertisements It is part of the company’s drought mitigation-related projects. The country is currently facing its worst drought in years, leading to increased investment in drought mitigation efforts such as irrigation projects…
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