Business
Zim GDP hits US$66bn
ZIMBABWE’s Gross Domestic Product (GDP) is set to reach US$66 billion this year, 88 percent higher than the previously forecast US$35 billion, a survey by renowned financial analysts, World Economics, shows. The World Economics’ GDP database provides a radically different view of economic activity in over 155 countries of considerable relevance and utility to investors […]
Read More
Kuvimba to sink US$220m into developing lithium mine
ONE of the subsidiaries of State-owned mining group Kuvimba Mining House (KMH), Sandawana Mines, a lithium operation in Mberengwa (Midlands Province) intends to spend an estimated US$220 million on mine development and constructing a processing plant. Sandawana mine, which has a long history dating back to 1955 when emeralds were first mined, is being resuscitated […]
Read More
ZSE to enforce ESG reporting from 2024
Companies listed on the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX) will, starting January 2024, be required to report on sustainability issues as part of their financial disclosures. Between 2019 and 2020, the ZSE and VFEX’s updated listing rules, which now compel listed companies to put in place measures to deal […]
Read More
Super demand can drive Zimbabwean dollar allure: RBZ chief
WITH United States dollars transactions now estimated to account for at least 80 percent of transactions in the economy, the central bank and economists believe more aggressive measures are required to create “super demand” and appeal for the domestic currency to save it from total demise. Although the Government demonstrated its commitment to maintaining the […]
Read More
Value addition success story hits UK market
INDUSTRIALISATION championed by President Mnangagwa which places emphasis on value addition and beneficiation of natural resources for optimum profits has seen Zimbabwe on the verge of making a major breakthrough, with Marula oil — a high end beauty product — set to hit the United Kingdom market soon. The luxury high-value product is aimed at the natural beauty market. […]
Read More
Tobacco exports breach US$1bn
ZIMBABWE’S tobacco export earnings for the 10 months to November 10, 2023, jumped 29,2 percent to just over US$1 billion compared to the same period last year, the latest figures from the Tobacco Industry and Marketing Board (TIMB) show. According to TIMB, as of November 10, 2023, Zimbabwe had exported 202 678 140 kilogrammes of […]
Read More
Power generation to increase monthend
Power cuts being experienced across the country are expected to ease by the end of this month when power generation will increase on the back of two units being brought back to the national grid. Hwange Unit 7, which produces 300MW, is presently off grid as it is undergoing maintenance, while Units 1 to 6 […]
Read More
Turnall record volumes decline, Ukraine war taking its toll
Turnall Holdings Limited recorded a 7% decline in volumes in the third quarter (Q3) of 2023 compared to prior period last year due to supply of raw material constraints. The company released a Q3 trading update which showed a decline in volumes to 8,526 tonnes from 9,132 tonnes compared to the same period last year. […]
Read More
Zimdollar stability to be prioritised
FURTHER stabilising the Zimbabwe dollar and consolidating economic growth will be prioritised in the 2024 budget, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube has said. He told The Sunday Mail that the $44 trillion budget, which will be presented later this month, will anchor the next phase of Government’s reform programme — […]
Read More
Delta delivers strong half-year performance
DELTA Corporation, Zimbabwe’s largest beverages maker, delivered a strong performance for the six months ended September 30, 2023, after recording volume growth across business units, which positively impacted revenue, profit and foreign currency sales. Lager beer volume grew by 13 percent compared to the same period last year, with the new packaging line commissioned in […]
Read More