Business

Business

“Since the lifting of this ban, there has been increased cross-border activity and inward flow of supplies including cooking oil, wheat flour, rice, and washing soap.” ...

In that regard, fungible counters Seed Co International and Old Mutual Zimbabwe are expected to perform well as stocks of these counters can be traded on the Botswana Stock Exchange and Johannesburg Stock Exchange in South Africa, respectively. ...

UNITED KINGDOM-BASED financial services firm Fitch Solutions says Finance minister Mthuli Ncube’s flip-flopping on currency reforms is worsening the foreign currency crisis. ...

Delta Beverages says its Belmont plant in Bulawayo is operating below capacity as the company has not been able to import spares because of the foreign currency shortages. ...

ZIMBABWE has developed a new variety of bean seed which is expected to improve yields and cut the country’s reliance on imported varieties for canning products. ...

THE majority of Zimbabwe’s businesses are left with less than a month’s supply of foreign-sourced raw materials and could come to a complete standstill if the country’s foreign currency shortages are not addressed urgently, an industry official has said. ...

ZIMBABWE’S economy is seen growing 3,7% this year after recording growth of 3% in 2018, the World Bank has said. ...

APEX Council, the umbrella body which represents public sector workers, says it will press ahead with plans to launch a full-blown strike, as negotiations between government and workers unions have not yielded any results. ...

A LOCAL entrepreneur has invested $55 000 into a backpackers lodge targeting both local and foreign tourists to help the travellers explore the country. ...

ZIMBABWE’S ongoing currency crisis can be best described as a conundrum. Not only is it problematic, but it is also confusing and complex. ...

ZIMBABWE’S tobacco farmers have increased the area under the golden leaf this year, but remain cautious that output will surpass last year’s 252 million kilogrammes record as the threat of poor rainfall are increasingly becoming a reality. ...

ZIMBABAWE’S public sector monthly wage bill has increased 10-fold to $300 million over the past decade, official data has shown. ...

Fitch Solutions, the macro-economic arm of global rating agency says Zimbabwe’s currency regime is highly unsustainable and will continue to fuel inflationary pressures going forward. ...

ZIMBABWE’S life assurance industry recorded 68 % decline in after tax profits to $314,85 million in the nine months to September 2018 compared to $979,27 million during the same period in 2017, the industry regulator has said. ...

The crisis recorded in 2008 and the one currently unfolding share almost the same umbilical cord and are structurally the same and most of the lessons call for the application of the same principles either in the short, medium or long term. ...

ZIMBABWE Miners Federation (ZMF), the representative body of small-scale miners, says it is pushing for a licence to import fuel for onward distribution to its members to ensure continuity of production in the sector. ...

BUSINESS leaders say the setting up of a forex allocation committee by government will not solve the prevailing foreign currency crisis. ...

ZIMPOST’S money transfer service, Zipcash, is struggling to break even due to cash shortages and failure by the South African corridor to perform up to standard, acting managing director Sifundo Moyo has said. ...

ZIMBABWE liberalised the electricity sector, but the participation of private players remains minimal. NewsDay (ND) business reporter Mthandazo Nyoni recently spoke to Renewable Energy Association of Zimbabwe chairman Isaiah Nyakusendwa (IN) about the challenges affecting the sector. Below are excerpts of the interview. ...

POOR governance and financial malpractices in the country, if not addressed, will exacerbate public mistrust and compromise tax compliance, the Zimbabwe Coalition on Debt and Development (Zimcodd) has warned. ...

GOVERNMENT yesterday shot down Delta Corporation’s decision to price its products in United States dollars, in a clear indication that authorities are opposed to re-dollarisation of the economy. ...

THE Zimbabwe Association of Microfinance Institutions (Zamfi) has partnered the National University of Science and Technology (NUST) to offer a practical qualification relevant to the industry needs in a bid to professionalise the microfinance sector. ...

A LOCAL paint manufacturer, Nash Paints, says it is currently operating at half of its capacity due to constraints in sourcing raw material. ...

BREAD prices are expected to go up again as bakers try to adjust to rising production costs. ...

The solution to Harare’s transport anarchy is the introduction of more journeys by bicycling and planning our cities for the future by introducing cycle tracks on all major roads. ...

ZIMBABWE’s livestock farmers have warned of a difficult season due to poor rainfall, acute veterinary vaccine shortages and stockfeed, among other pressing challenges. ...

NIGERIAN billionaire Tony Elumelu Foundation (TEF) has announced the fifth cycle of its entrepreneurship programme, which offers seed capital and business development training to young entrepreneurs-businesses across Africa. ...

ZIMBABWE’s exports have been on a steady growth path throughout the year but imports rose at a much even faster pace. In this piece, NewsDay’s Mthandazo Nyoni looks at how the country has fared in the just-ended year. ...

AGRICULTURAL concern Ariston Holdings posted an after tax profit of $2,8 million in the full year to September from a loss position of $1,7 million in the prior year, on the back of cost-cutting measures and improved revenue generation. ...

ZIMBABWE Energy Regulatory Authority (Zera) says it is carrying out investigations in collaboration with the police on fuel dealers accused of pushing the product to the black market, where it is then sold at exorbitant prices. ...