CFI Holdings (CFI) is hoping to shield itself from the El Nino-induced economic contraction by increasing its milling operations and housing projects.Advertisements The agro-focused group’s strategies come as the agricultural sector is a mainstay to the group’s operation and the El Nino is expected to hit crop yields during the 2023/24 farming season. “Given that…
AMALGAMATED Regional Trading Holdings (Art)’s revenue jumped seven percent to US$47 million in the year ended September 30, 2023, with the group’s divisions able to sell predominantly in hard currency during the period.Advertisements The diversified group’s chairman, Thomas Wushe, said Art had a strong year and achieved solid strategic development despite a challenging operating environment.…
SUGAR producer Hippo Valley Estates says it has enough water resources to sustain its operations through the anticipated El Nino period, potentially mitigating drought risks and ensuring production stability.Advertisements The company, in a statement accompanying its half-year results, assured investors about its irrigation capacity to last “approximately two seasons” within existing dams, despite El Nino…
ZIMBABWE’S trade deficit ballooned to US$146 million in November, more than doubling from the previous month, as a sharp drop in exports outpaced a modest decline in imports.Advertisements The widening gap raises concerns about the country’s ability to finance essential imports and could dampen hopes for a sustained economic recovery. Latest data released by the…
ZIMBABWE’S tourism industry is roaring back to life, with a 41,9 percent increase in tourist arrivals during the third quarter of 2023 compared to the same period last year.Advertisements Statistics from the Reserve Bank of Zimbabwe (RBZ) reveal that 494 878 tourists graced the country’s breath-taking landscapes, a testament to the groundwork laid after the…
THE Old Mutual Investment Group (OMIG) warns that Zimbabwe’s fragile economic balance hinges on the government’s ability to walk a tightrope of maintaining its strict fiscal and monetary policies.Advertisements This comes amid a confluence of challenges, including the El Niño phenomenon, falling commodity prices, and recurring currency volatility. While recent months have seen a glimmer…
THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz), anticipates positive outcomes from recent telecom tariff hikes.Advertisements It believes the adjustments, reaching up to 100 percent in some cases, will improve operators’ revenue-to-cost ratios, leading to increased investment and better service delivery. This optimism stems from Potraz’s third-quarter sector performance report, which highlights the expected…
THE lack of a robust saving culture in Zimbabwe, according to the Treasury, is one of the major missing links in the country’s economic development.Advertisements The country’s turbulent economic history, marked by monetary policy missteps and high inflation, has eroded trust and fostered a predominantly consumerist culture. Finance minister Mthuli Ncube, acknowledging the recent decline…
ARISTON Holdings (Ariston) recorded a 34 percent decline in tea production volumes to 2 427 tonnes in the year ended September 30, 2023, owing to 20 percent of the lowest-yielding tea gardens being pruned down for the season.Advertisements The decline in tea production volume is from a prior year of 3 158 tonnes. The diversified…
FOREIGN investors’ activity on the Zimbabwe Stock Exchange (ZSE) remained heavily skewed towards selling in 2023, with a net disposal of $39 billion.Advertisements Analysts attribute this trend to unfavourable policies that have spooked foreign investors and prompted them to utilise the reserve bank’s currency auction system to move their money out of the country. Despite…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More