TURNALL Holdings (Turnall) says it will leverage on supplier relationships for improved raw material sourcing and productivity. In its 2022 annual report, Turnall’s managing director, John Mkushi said the group is in engagements with various suppliers and distributors to improve raw materials supply and availability. “Management is engaging various suppliers and distributors of fibre across…
THE uptake of insurance products continues to be depressed in Zimbabwe as market confidence in the sector remains low, the Insurance and Pensions Commission (Ipec) has said. In its life assurance industry report for the quarter ended March 31, 2023, Ipec said the depressed uptake of insurance was highlighted by new business accounting for only…
THE National Handling Services (NHS) – which manages the Zimbabwe dry port, based in Walvis Bay Namibia – says the harbour requires at least US$2 million to be fully operational. Speaking at NHS’s annual general meeting in Harare this week, chief executive Godknows Marawanyika said the port is now able to sustain recurrent expenditure. The…
PIPING products manufacturer, Proplastics, says it lost at least US$3 million to power cuts after its operations lost 28 days of production owing to load shedding and faults. The group’s chief executive, Kuda Chigiya, told The Financial Gazette on the sidelines of the company’s annual general meeting that production volumes for the five months to…
THE Reserve Bank of Zimbabwe is expected to introduce person-to-person (P2P) transactions for its gold-backed digital tokens soon, a development that has divided analysts’ opinions. Some have hailed the idea as a “game-changer,” while others have called it a “non-event.” This follows the Zimbabwe dollar’s recent depreciation against major currencies on the back of…
THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says data privacy and security is a top priority as the wide adoption of broadband has created new security concerns and challenges. This comes as the adoption of digital technology has been marred by cybercrime. According to the Potraz 2022 Consumer Satisfaction Survey, consumers are wary…
MASHONALAND Holdings (Mashold) says its health sector portfolio will increase from one percent to five percent after the completion of the Milton Park Day Hospital project in the next two months. This comes after the property concern secured an agreement to develop and lease a hospital at one of its properties in Milton Park Harare.…
DIVERSIFIED manufacturer Zimplow says its sales volumes of local agricultural machinery under its Mealie Brand subsidiary improved by 70 percent in comparison to the prior year. In a trading update for the five-month period ending May 31, 2023, Zimplow chief executive Vimbayi Nyakudya, however, said sales volumes for the export market had reduced by 38…
MIKE Kamungeremu was last week re-elected as president of the Zimbabwe National Chamber of Commerce (ZNCC) at the chamber’s annual congress in Victoria Falls before promising to fight for business concerns in the current challenging operating environment in the country. Chalton Chambira, Holiday Inn Bulawayo’s general manager, was also re-elected as the chamber’s vice president.…
THE current exchange rate volatility being experienced in the country is temporary as economic fundamentals are still very strong, a senior Reserve Bank of Zimbabwe (RBZ) official has said. RBZ director for economic research and policy Nebson Mupunga told the just-ended annual congress of the Zimbabwe National Chamber of Commerce (ZNCC in Victoria Falls that…
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