ZIMBABWE expects to ramp up value addition and beneficiation of minerals as well as mining expansion on the back of a US$10 million gold facility. This comes as the government recently established the gold fund with a view to assisting small-scale miners by providing them with the tools of the trade required for their operations.…
THE government says it is working on several initiatives aimed at promoting sustainable mining. This follows an outcry in Zimbabwe over environmentally degrading mining practices in the country. Mines minister Winston Chitando said the country is in the process of implementing responsible mining principles, which will contribute towards sustainable mining as well as achieving carbon…
PLAYERS in the horticulture sector say the country needs to invest in technology for their products to meet global standards.The horticulture industry is undergoing resuscitation, with agriculture experts projecting it as the country’s next big export earner. “I am convinced that Africa is a continent of opportunities. When it comes to fruit and vegetable agriculture,…
ZIMBABWE’S premier business and financial newspaper, The Financial Gazette, will host its annual tax review meeting on March 2 this year, aimed at providing insights and trends on tax compliance and developments in the country. The event is being held in partnership with the Zimbabwe Revenue Authority (Zimra), Zimbabwe Institute of Tax Accountants (ZITA) and…
PLAYERS in the telecommunications sector have been resilient despite foreign currency shortages that have inhibited network quality in the country, the industry’s regulator has said. Gift Machengete, the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) director-general, said the sector is expected to hold on into the foreseeable future, despite the challenges. “We expect the…
SUGAR producer Hippo Valley Estates says it has managed to hold firm against imports despite a three percent dip in industry-wide domestic sales after import duty was lifted. In a trading update, the company said its share of the total industry sugar sales volumes of 397 000 tonnes for the nine months to December 31,…
FOREIGNERS’ activity on the Zimbabwe Stock Exchange (ZSE) continues to be skewed towards sales as the migration of issuers to a US dollar-denominated market — the Victoria Falls Stock Exchange (VFEX) — intensifies. In January, foreigners were net sellers of shares worth $2,85 billion, according to official data. They sold shares worth $3,68 billion but…
NAMPAK Zimbabwe (Nampak) says the business environment in Zimbabwe will remain difficult as long as power challenges persist. Load shedding has lately intensified in the country due to the loss of generation capacity at the flagship Kariba hydro power plant, as well as breakdowns at the Hwange thermal station. “The electricity supply, which deteriorated considerably…
MEIKLES says all its operating subsidiaries generated positive cash flows in the third quarter ended December 31, 2022, despite a challenging operating environment in Zimbabwe. Chief among the challenges were rolling power cuts. “Electricity supply challenges worsened during the quarter under review, leading to increased use of generators and in some instances reduction in operating…
TRANSPORT and Infrastructure minister Felix Mhona says Zimbabwe will have to be innovative to raise funds for national infrastructure projects to make up for the lack of concessionary funding in the space. The country is struggling to attract such funding due to high national debt, while the United States of America’s Zimbabwe Democracy and Economic…
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