Government is instituting several reforms to the public procurement processes to plug leakages and ensure contracts are awarded on merit.

Zimbabwe’s total consolidated debt amounts to US$17,5 billion. Debt owed to international creditors stands at US$14,04 billion, while domestic debt comes to US$3,4 billion.

This has resulted in an acute shortage of the Zimdollars on the market.

Matsvaire said the Far East also had the highest average export price among all the continents due to the high quality of tobacco that goes there.

“The salaries being paid to workers economy-wide are way below this poverty datum line, ” the report read.

These efforts by TIMB are aimed at increasing Zimbabwe tobacco output using minimum resources in an environmentally-friendly manner.

FHL group chairperson Herbert Nkala said adopting a hedging strategy mitigated the impact of the exchange rate fluctuation and sustained the group’s balance sheet.

Governance has remained a critical issue for Zimbabwe, with the debt resolution process having recently flagged governance reforms as a major drawback to the processes.

The report said open market sales of grain, other crops, and maize meal are mainly conducted in the United States dollar in most areas, or South Africa rand in the southern districts.

Ncube added that a lot needed to be done in the insurance industry at national, regional and global levels on the issue of financial industry.

Koti said tourism challenges might hinder ZTA’s expectations for the remainder of the year which includes international climate and general macro issues.

Over the years, Zimcodd has tried to foster a culture of whistleblowing amid reports that corruption is costing the country nearly US$2 billion annually.

Zimcodd said the government had almost exhausted social protection resources without bringing any meaningful social transformation.