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...
ZIMBABWE’S economy is, once again, in turmoil. Unrestrained government expenditure has rekindled inflationary flames, the country’s huge import bill continues to exert pressure on limited foreign currency earnings and the dollarisation project has long unravelled. A raft of government subsidies...
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 Zimbabwe Stock Exchange hit its highest level since dollarisation on Wednesday, as investors seek a home for their money amid exchange rate volatility and inflation fears. The main industrial index hit 593.82 points, up 15.96 percent from Tuesday. The...
IN his first address as president last November, Emmerson Mnangagwa promised to focus on economic recovery and to “shed misbehaviours and acts of indiscipline which have characterised the past.” But, faced with a tough battle to secure a fresh mandate...
AFTER his surprise appointment last month, Finance Minister Mthuli Ncube arrived at a Treasury which had just put out a grim first half report showing a $1.34 billion budget deficit, domestic debt approaching $10 billion, an unrelenting Treasury Bill...
Zimbabwe’s Agriculture Marketing Authority (AMA) has issued $75 million in grain bills to purchase maize from farmers, the authority’s financial advisor CBZ Bank said on Monday. AMA, a government agency tasked with marketing agricultural produce, will raise the money to...
GOVERNMENT has scrambled to fund wheat imports and avert a bread shortage after a dire warning by millers that stocks could run out in the next few days. Grain Millers Association of Zimbabwe (GMAZ) chairman Tafadzwa Musarara told reporters on...
MASIMBA Holdings has reported a 55% jump in revenue in the first six months of 2018, driven by a strong order book. The contractor’s revenue rose to $17.95 million from $11.58 million in the same period of last year. “The growth...
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...
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