Tobacco output to miss target: Govt
The Economic Planning and Investment Promotion ministry has revised downwards tobacco deliveries expected this marketing season to 133 000 tonnes, after escalating production costs, weather patterns, power shortages and lack of support schemes affected output.
SA-based safari company plans $10m investment
Victoria Falls- A South-African headquartered safari company is planning to invest up to $10 million towards the refurbishment of its facilities and the acquisition of aircrafts as it gears to take advantage of the countrys recovering tourism sector.
31% of Zimbabweans do not save money survey
One in every three Zimbabweans does not save money despite growing confidence in the financial services sector after the adoption of multiple currencies, a national survey has shown.
Underperforming diamond revenue stifling growth — Biti
Finance minister Tendai Biti yesterday painted a gloomy picture of Zimbabwe’s economic outlook blaming the underperformance of the diamond revenue for the stifled growth.
Consumer inflation at 4,03%
Zimbabwe’s year-on-year consumer inflation rate rose to 4,03% in April from 3,98% the previous month driven by alcoholic beverages, tobacco, rentals and utilities.
Auction floors in trouble
The countrys tobacco auction floors are facing viability challenges as a result of stiff competition from contractors who are being accused of side marketing.
IMF urges more reforms
The International Monetary Fund (IMF) has advised the government to adopt austerity measures in a bid to prevent the public sector wage bill from crowding out critical government projects.
Unpack indigenisation Hativagone
The ongoing indigenisation crusade, coupled with water and electricity shortages, is curtailing the countrys investment prospects, Zimbabwe Investment Authority chairperson Marah Hativagone has said.
Biti sweats over funds
Finance minister Tendai Biti yesterday said a Chinese company had failed to remit revenue from its operations in the Marange diamond fields amid fears it was channelling the money to other structures outside central government.
EU-Zim pact begins
The interim economic partnership agreement concluded by the European Union (EU) and Zimbabwe came into force yesterday.
- SA-based safari company plans $10m investment Victoria Falls- A South-African headquartered safari company is planning to invest up to $10 million towards the refurbishment of its facilities and the acquisition of aircrafts as it gears to take advantage of the countrys recovering tourism sector.
