Business
Year-end inflation seen below 20pc
Zimbabwe’s annual inflation rate is expected to end the year slightly below 20 percent and to range between 10 percent and 20 percent in 2024 on the back of continued tight monetary and fiscal policies, Treasury says. Finance, Economic Development and Investment Promotion Minister Mthuli Ncube, presenting the 2024 National Budget, said domestic prices had […]
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Zim to strengthen corruption fight
Zimbabwe aims to strengthen institutions, enhance legal framework, promote a culture of integrity, as well as ethical behaviour, with the media being called upon to join in the fight against corruption, Justice, Legal and Parliamentary Affairs Minister, Ziyambi Ziyambi, has said. He was speaking at the Anti-Corruption Media Awards for the Zimbabwe Anti-Corruption Commission (ZACC) […]
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Tobacco exports surge 40pc, as planting of season’s crop stutters
A MISHMASH of factors such as growing export volumes and value addition on the backdrop of firming commodity prices has laid the foundation for a 40 percent increase in the value of tobacco exports, which saw earnings growing from US$801 million in 2022 to US$1, 1 billion this year. Statistics availed by the Tobacco Industry […]
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Cement supply stabilises
The cement supply situation in the country is normalising following measures put in place by the Government to address reported shortages. Information, Publicity and Broadcasting Services Minister Dr Jenfan Muswere updated the country on the improving situation. Early this month Cabinet approved the importation of cement by individuals and companies with free funds to curb […]
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RioZim Limited gold production surges 13pc
DIVERSIFIED mining group RioZim Limited recorded a 13 percent jump in gold production to 307 kilogrammes in the third quarter to September 30, 2023 spurred by improved power supply in the quarter under review. During the same period last year, the mining group delivered 272 kg of the precious metal from two of its operational […]
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Powertel inks US$100m network upgrade deal
PowerTel Communications, a subsidiary of State power utility Zesa Holdings, has signed a Memorandum of Understanding and non-disclosure agreement with Ghanaian company Vobiss Solutions Limited for a US$100 million network upgrade and rural datafication programme. Vobiss is an open-access, carrier-neutral telecommunication infrastructure and connectivity provider established in 2010, with offices in Ghana, Nigeria, and the […]
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Prestige proposes 1 200MW thermal power plant
A high-impact energy project — a 1 200-megawatt coal-fired plant under Prestige Massive (Private) Limited at River Ranch in Beitbridge is seeking a power generation licence to feed an energy-consuming chrome smelting plant in the district. The development is expected to create employment in Matabeleland South Province, transform its economic activity and boost its gross […]
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Facelifts for Pioneer, Africa House
THE National Railways of Zimbabwe Contributory Pension Fund (NRZCPF) is poised to radically transform Bulawayo’s city centre landscape as plans are afoot to remodel Pioneer House and Africa House into mixed property use to include apartments, lodges and hotels. By 2026, Pioneer House will be repurposed from office use to licensed residential which can include […]
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General Beltings register volumes growth in Q3
General Beltings Limited recorded growth in volumes in the third quarter ended 30 September 2023. The company lamented reduced demand for its products during the quarter due to liquidity constraints. However, the interventions by the government through the Ministry of Finance and Economic Development and the Reserve Bank of Zimbabwe (RBZ) yielded positive results enabling […]
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ZMDC, Chinese investor build US$5m copper plant
THE Zimbabwe Mining Development Corporation(ZMDC) and a Chinese company, Zhi Jui Mining Resource, have installed a US$5 million plant to process 26 million tonnes of copper dumps at the defunct Mhangura Copper Mines. Mhangura Copper Mines was closed down over two decades ago after the resource at the mine was depleted. The Second Republic, under […]
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