MASHONALAND East provincial permanent secretary, Tavabarira Kutamahufa, says the dairy value chain will be crucial in boosting the province’s economy under the national devolution agenda. This comes after the Finance ministry recently began processing provincial gross domestic product (GDP) figures as part of the devolution programme. “One of the pillars for growing our provincial economy…
FIDELITY Life Assurance of Zimbabwe (Fidelity) says inflation is the country’s biggest threat as it is compromising the economy’s competitiveness and its attractiveness to investment. In a statement accompanying the group’s financial results for the year to December 31, 2021, Fidelity chairman Livingstone Gwata said the economy as well as companies face weak growth as…
NESTLÉ Zimbabwe says its dairy empowerment scheme, which was launched in 2011, has grown to support over 80 small-holder dairy farmers under three networks established by the company. The scheme started with the company focusing on commercial farmers but was expanded to include small-scale producers in 2015. “Small-scale farmer development has been accomplished using a…
NATIONAL Building Society (NBS) says the construction of its 120-unit cluster house project in Tynwald South Harare will commence this month. NBS’ head of marketing, Mildret Kujinga said the US$6 million ‘Sunset Villas’ project will be built on on about six hectares in a gated community, adding that it is an integral part of the…
NAMPAK Zimbabwe (Nampak) says it has signed a 25-year lease agreement for Maganga Estate in Macheke, effectively gaining control of the timber and agricultural estate following years of dispute with illegal settlers. The listed paper and packaging group has been engaging the government on account of the Bilateral Investment Protection and Promotion Agreement to regain…
FIRST Mutual Properties (FMP) says the local market experienced supply-demand imbalances that limited space absorption last year. The company said activity on the property market remained subdued, with consistent demand and supply imbalances affecting pricing and rentals, while subdued macro-economic fundamentals continue to dampen demand for space. “The property market experienced supply-demand imbalances that limited…
ZIMRE Holdings (Zimre) says it will anchor its new strategy on robust investment initiatives and continued consolidation of operations to capitalise on economies of scale while eliminating duplication of costs. In a statement accompanying results for the year to December 31, 2022, Zimre chairman Benjamin Kumalo said the group acknowledges the difficult operating environment, but…
ZIMBABWE’S first independent television station, 3Ktv, marked 100 days of live broadcasting on Tuesday this week, as the history-making channel continues to grow from strength to strength.
TOTAL of 122,7 million kilogrammes (kg) of tobacco valued at US$366,8 million has been sold compared to 141 million kg worth US$382 million traded during the same period last year, since the golden leaf auction season opened on March 30. In a post-Cabinet briefing on Tuesday, Information Communication Technology minister Jenfan Muswere said the auction…
ZIMBABWE’S trade deficit with its neighbour and biggest trading partner, South Africa (SA), shrunk by US$19,5 million in April to US$40,7 million, compared to March. Latest data from the Zimbabwe National Statistics Agency (ZimStat) shows that imports from SA were down by US$20,8 million to US$279 million during the month, while exports to the neighbouring…
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