THE African Union’s InterAfrican Bureau for Animal Resources (AU-IBAR) has begun engagements with the local finance and insurance sector to capacitate women-run livestock businesses with appropriate resources. AU-IBAR is the specialised technical office of the department of Agriculture, Rural Development, Blue Economy and Sustainable Environment (DARBE) of the AU Commission. It is mandated by AU…
HOSPITALITY group African Sun (AfSun) says it recorded a 12 percent increase in revenue to US$14,6 million in the quarter to September 30, 2023, spurred by higher demand for conference services and the August 2023 election business. Domestic business generated 65 percent of revenue, while international business was 35 percent compared to 77 percent and…
FINANCE minister Mthuli Ncube says the risk management framework and guidelines for the public sector, which his office launched this week, will help improve transparency and accountability by efficiently managing government resources. The minister officiated at the launch ceremony this Wednesday. “This management will go a long way in efficiently managing the resources that the…
THE government says it remains committed to ensuring private sector participation in aviation infrastructure development. This comes after the commissioning of the US$153 million Robert Gabriel Mugabe International Airport expansion programme earlier this year. “The (Transport) ministry is committed to providing an enabling environment for private sector participation in the development of our infrastructure. “This…
CBZ Holdings says rising external debt is likely to remain challenging due to continued tight monetary policy regimes across the globe. In a trading update for the nine months ended September 30, 2023, the diversified group noted that the likelihood of further interest rate hikes also remained relatively high, thereby perpetuating high interest rate risks…
TWO agriculture investors in Chegutu, Mashonaland West have embarked on a joint venture project in the citrus sector with farmers, which could significantly boost production with the Chinese market beckoning. Zimbabwe recently signed a trade protocol with China on citrus trade, opening up the Asian country’s huge market for potentially other Zimbabwean horticulture products as…
AXIA Corporation (Axia) aims to leverage its expertise and resources to explore new markets and increase its customer base despite the challenging operating environment. In today’s fast-paced and competitive business environment, it is crucial for companies to keep evolving and expanding to stay relevant. “The Zimbabwean operating environment remains challenging. Management remains hopeful that progressive…
THE Zimdollar (Z$) will experience double-digit depreciation next year and the local economy will remain highly dollarised, a leading researcher has said. Confidence in the local currency has taken a knock, with the domestic unit losing more than 80 percent of its value versus the US dollar on the official market. In its Africa Outlook…
AMID rising local use of the greenback, many companies are increasingly reporting their financials in US dollars or seriously considering doing so going forward. Experts who spoke to The Financial Gazette this week said while this was giving more meaning to published statements, it also highlighted the many challenges that faced the government in its…
LOCAL companies expect the operating environment in Zimbabwe to remain challenging in the medium term on the back of declining disposable incomes amid persistent currency volatility. Companies listed on the Zimbabwe Stock Exchange and the Victoria Falls Stock Exchange said the third quarter of the year was characterised by liquidity constraints, as banks and major…
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