A HIGH cost of production has made Zimbabwe’s agriculture sector uncompetitive on the export market, the recently released fourth edition of the annual Agricultural Sector Survey has shown. The survey is carried out jointly by the Zimbabwe Agricultural Society, CBZ Holdings and The Financial Gazette, who have commissioned the African Economic Development Strategies (AEDS) as…
THE Procurement Regulatory Authority of Zimbabwe (Praz) says government entities should comply with public purchasing laws to ensure value for money. In August, the Treasury temporarily held payments on invoices for goods and services tendered to state entities to allow audits amid concerns about weaknesses in public procurement processes. The government has since set up…
FINANCE minister Mthuli Ncube says the government wants to partner with the private sector in capitalising the National Venture Capital Company of Zimbabwe (NVCCZ) after setting aside $4 billion for the vehicle in the 2023 national budget. The government established the NVCCZ in 2020 and it had up until now been capitalised to the tune…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-286525.mp3?cb=1732294492.mp3THE Minister of Finance and Economic Development has, through his 2023 budget speech, announced a drive to rein in the informal sector, which has caused havoc to domestic revenue mobilisation. This drive comes as a means to fulfil the formalisation of the informal sector, something that has for a while been of huge concern to…
BUSINESS says while Finance minister Mthuli Ncube’s 2023 national budget contains many positive aspects, it does not go far enough to lift the country’s economy. Speaking to The Financial Gazette this week, captains of commerce and industry said much more would need to be done to boost companies and the economy. The chief executive officer…
HOSPITALITY concern Rainbow Tourism Group (RTG) says increased economic activity in the wake of the removal of Covid-19 restrictions have seen city hotels’ occupancies improve to pre-pandemic levels. In a trading update for the nine months ended September 30, 2022, RTG said revenues under its hotels segment continued to grow as economic activity returned to…
NATIONAL Breweries (Natbrew), a unit of Delta Corporation, says exporting Chibuku Super to Zimbabwe has helped the company offset the low uptake of the product in Zambia occasioned by price adjustments. Natbrew produces, packages and markets traditional sorghum beer in Zambia. Popular variants of its opaque beer are Chibuku Shake-Shake and Chibuku Super. The company…
OLD machinery in the fertiliser manufacturing industry has crippled operations in the sector, impacting on productivity and competitiveness, the National Competitiveness Commission (NCC) has said. In its November 2022 Fertiliser Value Chain Competitiveness Report, NCC said the machinery had not been refurbished for five decades and was constantly breaking down. “The physical state and level…
FINANCE minister Mthuli Ncube says the government will intensify domestic tourism promotion to sustain the resilience of the industry. This comes as the Treasury chief has predicted that tourist arrivals are expected to increase to 1,4 million in 2023, whilst tourism receipts are projected at US$623 million. In the 2023 national budget Ncube said the…
ZB Financial Holdings (ZB) says it anticipates the current tight monetary policy, use of gold coins and effective monitoring in the financial sector by the authorities to go a long way towards promoting stability in the economy. This year, the government introduced a raft of measures as a way of dealing with the exchange rate…
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