THE Confederation of Zimbabwe Industries (CZI) has voiced dissatisfaction with the manufacturing sector’s employment capacity, which, according to the body, accounts for only eight percent of all jobs in the country. This pales in comparison to the wholesale and retail trade sector, which is the largest employer in the economy at 26,9 percent of the…
WILLDALE Limited (Willdale) spent $1,9 billion on local suppliers in 2022, representing a 206 percent increase from $624,48 million in 2021. The company, the only brick maker with a publicly-traded stock, saw a sharp decline in import spending over the period. In 2020, the brickmaker spent $531,45 million on local suppliers. Willdale chairperson Cleopas Makoni…
TSL Limited (TSL) says its logistics business unit will continue to scale up rail volumes across a broad spectrum of commodities from both Maputo and Beira ports in a bid to widen its customer base. The diversified group said handling volumes were significantly ahead of prior year, as the unit acquired additional business from both…
ZIMBABWE’S trade with other nations was subdued in January and February, as both imports and exports slumped to their lowest levels since 2021, the latest ZimStat data shows. The country’s total exports were flat in January and February at US$428 million, compared to US$633 million in December and US$543 million last January. Imports were also…
FIRST Capital Bank (FCB) says it seeks to diversify its loan portfolio, which saw significant growth in agriculture lending last year, to ward off risk. The bank is also targeting new credit lines worth US$90 million. FCB managing director Ciaran McSharry told The Financial Gazette after an analyst briefing that there were other areas with…
NEDBANK Zimbabwe (Nedbank) says its inflation-adjusted profit for the year ended December 31, 2022 rose 311 percent to $12,77 billion from $3,1 billion in the comparative period on the back of increased funded and non-funded income. Unrealised foreign exchange gains contributed 70 percent of the increase in non-funded income, which rose by 205 percent. In…
WE live in a society in which adoption is not talked about enough. Adoption can improve the lives of children who otherwise would not have the chance to be exposed to opportunities for self-development, however insignificant they may seem in the beginning. Some of the most famous and influential people in the world were adopted.…
BUSINESS optimism has been dented by a challenging first quarter, marked by brutal power cuts and continuing exchange rate volatility. In addition, commerce and industry anxiety around possible policy changes and political turbulence before, during and after the upcoming national elections is quelling business confidence. This comes after the country’s relentless power cuts intensified during…
SEED Co Limited says it is preparing for the coming winter and summer planting seasons and has vowed to help farmers grappling with a number of challenges such as credit access. The seed producer said it would, in that vein, continue assisting seed growers with inputs. “We have conducted various trainings, put in place exchange…
EXPERTS say rising money supply and high demand for the US dollar (US$), as well as a confidence deficit in Zimbabwe, have piled pressure on the domestic unit resulting in the current spikes in both official black market exchange rates. The Zimbabwe dollar’s slide has intensified in 2023, losing about 23 percent against the greenback…
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