THE Confederation of Zimbabwe Industries (CZI) says the manufacturing sector’s negative performance reflects a gap between government policy measures and set National Development Strategy 1 goals.Advertisements CZI president Kurai Matsheza told the organisation’s annual congress last week that the downward trend in the manufacturing sector was worrying as it implied de-industrialisation at a time the…
THE Zimbabwe Investment and Development Agency (Zida) says the energy sector was the peak of new investment in the third quarter of 2023, as six projects worth US$2,8 billion were licensed.Advertisements According to the agency, the sector accounted for 82 percent of all new investments during the period, in value terms. This comes as the…
BOTH industrial hemp and medicinal cannabis producers still have a huge task of convincing the financial sector to fund production costs due to legal and perception hurdles, experts say. Advertisements Zimbabwe Industrial Hemp Trust chief executive, Zorodzai Maroveke, however, pointed out that this challenge was not peculiar to Zimbabwe. “In America, because at federal law…
EXPERTS say the recent extension of the country’s multi-currency system to 2030 will unlock much-needed long-term funding for commerce and industry. Advertisements The extension came amid growing concerns that banks were now limiting their lending to business due to the looming earlier deadline of 2025 for the end of the rising local use of the…
THE dairy sector has lowered its annual milk output target by nine million litres to 100 million due to high production costs. Advertisements This comes as the latest figures from the Agriculture ministry’s dairy services department show that milk production in the first nine months of 2023 increased by eight percent to 71,91 million litres…
ANXIETY is mounting over the threat of softening mineral prices hurting Zimbabwe’s economic progress this year and the next, with analysts this week warning that escalating tensions in the Middle East could worsen the situation. Advertisements The country recorded a 20 percent decline in foreign currency receipts to US$3,6 billion during the nine months to…
WEB-based trade infrastructure solutions provider Kulies.com says payment processing systems across the continent’s borders need to be fixed to improve the ease of doing business climate, as it eyes opportunities under the African Continental Free Trade Area (AfCFTA). “Kulies is an African trade infrastructure that helps African businesses to transact business to business. We operate…
EXPERTS say the bulk of Zimbabwean businesses are not yet prepared to participate in the African Free Continental Trade Area (AfCFTA) even though it presents a new impetus for investment, trade and industrialisation in line with the country’s development plans. AfCFTA, the world’s largest free-trade area, began trading on January 1, 2021, creating a market…
LOCAL research firm says it expects Innscor Africa’s revenue to grow by 3,2 percent to US$829,60 million in the full year 2024, driven by enhanced production capacities and route-to-market initiatives. In the fiscal year to June 2023, Innscor’s revenue grew by 14,7 percent to US$804,040 million driven by improved capacity utilisation across the group’s core…
THE Zimbabwe Energy Regulatory Authority (Zera) says the US$0,02 per kilowatt-hour power (kWh) tariff adjustment it approved this week was part of its pursuit for a cost-reflective tariff in the country. It comes as the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has persistently said sub-economic tariffs are nearly entirely to blame for the country’s…
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