Business

Business

ZIMBABWE’S cement industry could run out of capacity by 2020 as national demand grows faster than the expansion in investment, one of the major producers has said. ...

THE Parliament Budget Office (PBO) expects Zimbabwe’s sovereign debt to grow by 8,69% to a record high of $20 billion by year-end, stoked by continuous public borrowings to finance persistent budget deficits through Treasury Bills (TBs) and central bank overdrafts. ...

INNSCOR Africa Limited posted a $48,6 million profit after tax in the full-year ended June 2018 from $34,4 million in prior period, as all its business portfolios reported good performance. ...

AN International Monetary Fund (IMF) team of tax experts has completed a diagnostic assessment of the Zimbabwe Revenue Authority (Zimra)’s tax administration and pointed out areas where reform is required to bring it in line with international best practice. ...

ONE of the country’s largest cement producers, Pretoria Portland Cement (PPC) Zimbabwe, says the liquidity constraints being experienced in the country have resulted in payments for offshore goods and services becoming delayed and difficult to make. ...

THE Bulawayo City Council (BCC) has pledged to formulate policies aimed at promoting the growth of small-to-medium-scale enterprises (SMEs), as part of its strategy to revive the city’s economy. ...

Government yesterday urged tobacco farmers to adopt practices that enhance the sustainability of tobacco production and exports through a greater regulatory compliance. ...

Rainbow Tourism Group (RTG) is optimistic of achieving sustainable growth after recovering from a loss-making position in the first half of the year. ...

SIMBISA Brands Limited (Simbisa), a public-listed company that owns, operates, and franchises quick service restaurants in Africa, has reported a more than double growth in net income in the full-year period to June 30, 2018, driven by “higher revenue streams and improved operating efficiencies”. ...

BULAWAYO textile giant, Archer Clothing Manufacturers, says it is struggling to process orders owing to a shortage of foreign currency for importation of inputs, machinery and equipment. ...

THE Zimbabwe Coalition on Debt and Development (Zimcodd) has called for legislated fiscal rules, which would impose limits on budget deficits to enhance fiscal transparency and restrain further growth in unsustainable sovereign debt. ...

ZymPay, a cross border payments company based in the United Kingdom (UK), has developed a real time cross-border payments service to exploit lucrative opportunities in Zimbabwe’s vibrant cross-border payments market. ...

THE Zimbabwe Revenue Authority (Zimra) and South Africa Revenue Services (Sars) have agreed to cooperate on the facilitation of a seamless movement of goods at Beitbridge, Africa’s largest ...

Kamativi Tailings Company (KTC), in which the State-owned Zimbabwe Mining Development Corporation (ZMDC) is involved through a joint venture, is scheduled to take its tailings project on the ...

THE Confederation of Zimbabwe Industries’ (CZI) annual congress kicks off in Bulawayo today with a focus on industrialisation meant to rebuild production capacity, which is still to recover ...

It is lamentable that, in spite of setting up hundreds of universities and research institutes, developing countries continue to import knowledge. ...

RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya says the currency crisis in the country may drag for three to five years, roughly estimating the time it could ...

ZB Financial Holdings (ZBFH) is in talks with a regional bank for a $30 million line of credit, which will enable ZB Bank, its commercial banking subsidiary, to support international transactions. ...

Local think-tank, CEO Africa Round Table, says it will be touring the United States to revive company-to-company business relations with the world’s largest economy. ...

patron of the Zimbabwe Youth in Tourism, First Lady Auxilia Mnangagwa, has called for the greater entrepreneurial participation of youths and women in the tourism sector to drive its growth. ...

ZIMBABWE’S egg production tumbled by 12% to nine million eggs in the second quarter of 2018 as output by large-scale producers fell, according to a second quarter performance report by the Zimbabwe Poultry Association. ...

ANALYSTS have raised concern over public debt sustainability after the Agricultural Marketing Authority (AMA), a wholly-owned State institution, announced it was issuing commercial bills of up to $75 million to finance the purchase of maize. ...

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) last week donated $65 000 in medical support to children living with albinism and those affected by cancer. ...

BULAWAYO’S stationery giant, Marvo Stationery Manufacturers (Marvo), has resumed operations on a small scale and is banking on an anticipated $1,5 million investment from a local unnamed investor to scale up production, NewsDay has established. ...

This year’s edition of the Mining, Engineering and Transport (Mine Entra) expo is already 93% booked, a sign of growing business confidence in the sector and strong international interest in doing business with Zimbabwe. ...

The directors of Tristar Insurance Company Limited (Tristar), a short-term insurance unit of First Mutual Holdings Limited (FML), have passed a resolution to seek the approval of the Minister of Finance and Economic Development to transfer its business to NicozDiamond Insurance Limited (NicozDiamond). ...

MINES minister Winston Chitando says the national diamond policy, which is expected to improve the governance of the sector, is now “imminent”. ...

SMALL-SCALE chrome miners have engaged the Mineral Marketing Corporation of Zimbabwe (MMCZ) to adopt a market-based pricing system to cut out losses and nurse the sector back to viability. ...

GOVERNMENT has committed 1% of gross domestic product (GDP) towards research and development (R&D) across all sectors of the economy, President Emmerson Mnangagwa has said. ...

POULTRY feeds production increased by 46% to 98 586 tonnes in the second quarter of the year and generated more than $63 million in revenue compared to the ...