The government has put its vehicle assembly plants Willowvale and Deven up for sale, but finding a buyer for the old assets will require all the skills of a crafty used-car salesman. The...
Delta Corporation recorded declines across its beverage lines, with soft drinks being the hardest hit, in a turbulent final quarter of its 2019 financial year. The company has struggled to source foreign currency for...
Capacity utilisation of Zimbabwe’s industries will fall to just 34.3% this year, reversing an improvement seen in 2018, according to a report just released by the Confederation of Zimbabwe Industries (CZI). In its 2018 Manufacturing...
Delta Corporation says it owes foreign suppliers US$41 million, as surging demand continues to exert pressure on its forex needs. Delta’s products, especially carbonated soft drinks, have been in short supply and the situation worsened at the beginning of October...
THE Confederation of Zimbabwe Industries (CZI), the country’s main business representative body, has come out in support of government’s 2% tax on electronic payments after initially opposing the unpopular revenue measure. The tax, announced by Finance Minister Mthuli Ncube on...
THE government’s Industrial Development Corporation (IDCZ) has invited bids for Chemplex Corporation, the country’s largest chemical and fertilizer maker, in line with plans announced earlier this year. The IDC has engaged Ernst & Young to advise on the dilution of...
TURNALL Holdings reported its biggest half-year profit since dollarisation in the first half of 2018, driven by strong volume growth and an unlikely upswing in construction activity in the country. The company reported $1.4 million net profit, from a $295,000...
JSE-listed construction firm Raubex will be the primary contractor on the $241 million Beitbridge border upgrade, South Africa’s Business Day has reported. Early this year, the Zimbabwe government handed the border modernisation concession to Zimborders, a consortium of local and...
RECENT updates by listed construction companies point to an unlikely boom in Zimbabwean construction. This time last year, Turnall, a leading manufacturer of building materials and piping, was staring at bankruptcy. The company had posted a loss of $4.1 million...
WITHIN hours of Emmerson Mnangagwa being inaugurated, Harry Greaves, executive director of Prospect Resources, got a call from the Ministry of Mines. The Government wanted to know how Arcadia Mine, a lithium project that had up...
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