Business

Financial services firm, IH Securities projects revenue for sugarcane miller Hippo Valley Estates Limited (HVEL) to reach US$141 million for its current financial year, a decrease from the comparative period owing to duty-free sugar imports. Based on its financial results released last month, HVEL revenue was $139,26 billion in the …

Zimbabwe Stock Exchange (ZSE) listed firms with a focus on construction are excited by the number of infrastructure projects that are in the market driven by Government, corporates and individuals as they form a critical mass for sustainable revenue and profitability in the short to medium term. The companies noted …

Zimbabwean authorities have been allocating retail licenses to foreigners in contravention of the law, investigations have established. Retail space in the capital Harare is now dominated by Indians, Chinese, Pakistanis, Nigerians, Malawians and Tanzanians among others, many of whom occupy grocery tuck shops, a new phenomenon which has taken the …

Listed sugar processor, Tongaat Huletts says cheaper sugar imports are negatively affecting the country’s local industry by depressing sales volumes amid concerns of exposing consumers to health hazards. Presenting the financial performance for the year 2023, Tongaat’s chairman, Canaan Dube said the Statutory Instrument 98 implemented by the government last …

The government’s decision to assume the Reserve Bank of Zimbabwe (RBZ)’s external debt has been done without consulting Parliament, which is likely to weigh heavily on already burdened taxpayers, a civil society group, the Zimbabwe Coalition on Debt and Development (Zimcodd), has said. Last week, President Emmerson Mnangagwa, through his …

State-Owned telecom firm, TelOne, says government’s delay in paying its debt has caused a loss of US$7,4 million on its balance sheet as the local currency continues to depreciate. The Zimdollar has lost value significantly this year against the United States dollar to reach $6 299,32 as of yesterday. This …

President Mnangagwa yesterday met the outgoing Irish Ambassador to Zimbabwe, Fionnuala Gilsenan, who said Harare has great potential to grow its economy after unveiling a plan to resolve its debt obligations. Zimbabwe has set a High-Level Arrears Clearance and Debt Resolution platform led by African Development Bank president Dr Akinwumi …

Parliament’s adjournment for two months ahead of the 23 August elections, which effectively means Finance minister Mthuli Ncube does not have to answer pressing questions over the worsening economic crisis, is set to plunge the country into public finance management paralysis, deputy Public Accounts Committee chairperson Edwin Mushoriwa has said. …

Image caption, Kenya’s President William Ruto is confident that the trade deal will boost local industries Kenya’s President William Ruto hailed his country’s “remarkable partnership” with the European Union (EU) as the two sides inked a 25-year trade deal, but it has raised questions about East African unity. Has the …

The adage that ‘diligence pays’ came true last weekend following the awarding of Professorship to Impact Training Institute (ITI) International Executive President, Dr Elias Chakabwata. Dominion Mission Theological University, based in Ghana honoured Dr. Chakabwata with a Professorship award following his impact on the academic arena. ITI is a christian-oriented …