Markets

Markets

Coronavirus to erode Zim’s tobacco, FDI and diaspora remittances earnings – ZCTU

By Alois Vinga THE Covid-19 pandemic will seriously reduce Zimbabwe’s projected tobacco farming earnings and other export commodities, the Zimbabwe Congress of Trade Unions (ZCTU) has said. In a position paper, the labour group said this was going to leave the nation poorer and in urgent need for social safety protection from government. The paper

ZSE to operate four hours a day throughout Covid-19 lock down

By Alois Vinga THE Zimbabwe Stock Exchange (ZSE) will be trading for four hours a day during the 21-day Coronavirus national lockdown to avoid a total halt of the economy. In a trading brief issued this week, ZSE chief executive, Justin Bgoni said Finance Minister, Mthuli Ncube gave the equities market permission to trade. “After

ZIMASCO Halts Chrome Production As COVID-19 Takes Toll

By Business Reporter THE impact of COVID-19 has adversely affected ZIMASCO chrome’s production in Kwekwe after its stainless steel making markets Europe and Asian stopped operations. ZIMASCO is the country’s biggest ferrochrome producer which announced that it had temporarily halted its smelting operations in the face of coronavirus. In a statement ZIMASCO chief executive, John

Information Minister Monica Mutsvangwa

Govt announces new producer prices for 2020 winter wheat

By Robert Tapfumaneyi GOVERNMENT has announced new producer prices for the 2020 winter wheat pre-planting and that of soya beans. At a post-cabinet media briefing in Harare Tuesday, Information minister Monica Mutsvangwa also encouraged the growing of sesame and sunflower meant for stockfeed. “Cabinet considered the 2020 Winter Wheat Pre-planting Price and the 2019/2020 Soya

TSL blames tough RBZ payment arrangements for reduced tobacco yield

By Alois Vinga ZIMBABWE Stock Exchange listed tobacco firm, TSL Limited has placed the blame for reduced tobacco yield projections on the Reserve Bank of Zimbabwe’s (RBZ) unfair payment arrangements. TSL Limited company secretary, James Muchando Monday said the national tobacco volumes which were expected to dwindle by up to 20% were partly due to

Oswell Binha

Depressed Zim economic climate casts pall over Africa CEO indaba – Binha

By Robert Tapfumaneyi ROUNDTABLE executive chair, Oswell Binha has lamented that the country shall this month host the CEO Africa Roundtable when its economic environment remained depressed. He was addressing journalists in Harare Thursday ahead of the upcoming 2020 CEO Africa Roundtable edition scheduled for 18 to 20 March in the resort town of Victoria

ZITF hosting in doubt over coronavirus threat

By Bulawayo Correspondent THE holding of the 2020 edition of the Zimbabwe International Trade Fair (ZITF) could be in doubt following the fast spread of coronavirus from its original Chinese source to many parts of the world with massive death being reported. This year’s ZITF exhibition will run from 21 to 25 April under the

RBZ governor John Mangudya

Mangudya says dismayed Zimbabwe imports carrots, potatoes

By Robert Tapfumaneyi RESERVE Bank of Zimbabwe (RBZ) governor, John Mangudya says the country was wasting a lot of scarce foreign currency through importing carrots and potatoes, among things that could be produced locally. Mangudya said it was disheartening that a country with many dams which were full of water throughout the year could find

EU Ambassador Timo Olkkonen

Local Firms Cry Foul Over Stringent EU Contracts

By Alois Vinga LOCAL business players have alleged bias in the awarding of contracts by the European Union (EU) following a decision by the bloc to award 50% of the 11 million euros to two foreign linked companies as grant managers. The local companies raised the concerns to NewZimbabwe.com Business Wednesday on the sidelines of

GMAZ chairperson Tafadzwa Musarara

Zim millers import 100 000 tonnes grain from Brazil

By Bulawayo Correspondent THE Grain Millers Association of Zimbabwe (GMAZ) has acquired 100 000 tonnes of maize from South Africa and Brazil with the first consignment of the staple starting to trickle into the country early next week. Speaking to journalists soon after meeting various stakeholders in Bulawayo Tuesday, GMAZ chairperson Tafadzwa Musarara said the

Raw Materials Dominate Zim’s Export List 

By Alois Vinga ZIMBABWE’s export list continues to be dominated by raw materials despite the existence of vibrant policies aimed at boosting industrial productivity. The latest Reserve Bank of Zimbabwe’s (RBZ) monthly economic review shows that there was no transformation in the quality of goods leaving the country. “The country’s export basket continued to be

Meikles Hotel’s Sale Awaits RBZ Nod as Room Occupancy Plummets 7%

By Alois Vinga MEIKLES Limited executive chairman, John Moxon Tuesday said the group currently awaits the Reserve Bank of Zimbabwe’s (RBZ) approval to sell off Meikles Hotel at a time when room occupancy has gone down 7%. Moxon made the remarks while presenting the group’s financial results for the first nine months ended September 30

GMAZ chair Tafadzwa Musarara

Millers welcome new govt grain subsidy

By Thandiwe Garusa ZIMBABWEAN millers have welcomed government’s decision to restore grain subsidies with their umbrella group, Grain Millers Association of Zimbabwe (GMAZ) saying the move would ensure a “win-win” situation for both the cereal processors and ordinary consumers. Reacting to the development Thursday, GMAZ chair Tafadzwa Musarara hailed the move. “Grain Millers welcomes the

Mines Minister Winston Chitando

Zimbabwe eyes international diamond tenders

Diamond.net The Zimbabwe Consolidated Diamond Company (ZCDC) intends to hold 11 international sales in 2020, the news agency cited the miner’s acting CEO, Rob De Pretto, as saying. Its tenders are currently in Harare, the country’s capital, but the location does not appeal to clients, the report continued. “We are exploring opportunities and new markets