AdvertisementsTHE Zimbabwe fertiliser industry says it requires US$294 million per year to produce 840 000 tonnes of ammonium nitrate (AN). This was revealed after industry representatives last week met with the Confederation of Zimbabwe Industries to discuss strategies to use in lobbying government to extend support in foreign currency for the farm input production. “A…
AdvertisementsPROPLASTICS, one of Zimbabwe’s largest piping products manufacturers, says the desired impact of the monetary policy statement (MPS), which was announced nearly two months ago, is yet to be realised as access to foreign currency remains a challenge. Advertisements This comes as Zimbabwe has been experiencing acute foreign currency shortages for the past three years…
AdvertisementsOLD Mutual Zimbabwe (OMZ) has been urged to capitalise on synergies between its business units to lower fixed cost overheads and increase the cross-selling of products as a way of generating more revenue. This was after the listed integrated financial service group had recorded a 36 percent increase in profit to $329,8 million in the…
AdvertisementsPRESIDENT Emmerson Mnangagwa’s government should find ways to address the country’s worsening economic situation, analysts have said.Advertisements This comes as the International Monetary Fund has warned that the southern African country risks sliding into recession, at a time Zimbabwe is grappling with threats of stagflation for the second time in two decades. Stagfaltion is a…
AdvertisementsZIMBABWE’S hard-pressed businesses have blamed foreign currency shortages for the recent price hikes in the market. This was revealed at a meeting held by business representatives at the Confederation of Zimbabwe Industries (CZI) offices last week. The meeting, which was chaired by CZI president Sifelani Jabangwe, evaluated factors fuelling price increases and some of the…
AdvertisementsTHE government must refrain from its “heavy-handed approach” to the control of local markets, particularly in strategic commodities such as gold, tobacco and currencies. Lately, unofficial trading channels in these key sectors have been buoyant ― much to the demise of the official markets. Official figures show that gold deliveries to Fidelity Printers and Refineries…
AdvertisementsDESPITE the significant strides that have been made in the development of Zimbabwe’s capital markets since independence in 1980, recurrent currency crises have, however, made a mess of it with the spheres, which are supposed to provide channels of investment, now reduced to speculative and hedging avenues. Since 1980, there have been notable improvements to…
AdvertisementsTHE bizarreness of penny stocks was on full display on the Zimbabwe Stock Exchange (ZSE) during the first quarter this year, as Medtech Holdings (Medtech) outperformed every other counter on the market after gaining 350 percent. Shares in the company, which sells consumer goods, medical supplies and light industrial products, opened the year at $0,0002…
AdvertisementsTHE Zimbabwe Davis Cup team’s 4-1 defeat at the hands of Romania on Saturday is a major setback for local tennis and has left followers of the sport in the country with more questions than answers. Zimbabwe had started the second and final day of the Davis Cup Euro/Africa Group II tie at the Sala…
AdvertisementsZIMBABWE’s sickly economy is experiencing severe fresh headwinds, triggered by spiralling production costs, soaring parallel foreign currency rates and a subdued aggregate demand as disposable incomes continue to plummet. As a result, experts warn, the country is grappling with the threat of stagflation for the second time in a decade — a situation in which…
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