Category: Business

Bakers lament foreign currency payment delays

The National Bakers Association of Zimbabwe’s production is being hampered by the outstanding US$16 million in foreign payments for the acquisition of raw materials for the bread industry. The local baking industry has an installed capacity of 1.8 million loaves a day but economic constraints are hampering the attainment of high figures, especially delays in foreign currency payments. The industry has also seen up to 93 small bakeries closing shop owing to economic induced challenges as well as stiff competition from major bakeries across the country. The association chairman Mr Ngoni Mazango says besides other constraints, delays in foreign...

Read More

HCCL continuous miner delivered

Hwange Colliery Company is set to resume underground mining after receiving a continuous miner. The coal mining giant is set to reach more than 300 000 tonnes of coal monthly following the delivery of a continuous miner which was repaired to the tune of US$1 million. The piece of equipment paves way for the resumption of underground mining which had stopped for the past two years owing to its breakdown. In an interview in the capital, Hwange Colliery Company Managing Director Engineer Thomas Makore said the company is awaiting the delivery of other complementary equipment to start underground mining....

Read More

Indians eye Zim manufacturing sector       

Indian investors are pursuing the possibilities of joint ventures with Zimbabwe’s manufacturing firms. A consortium of Indian investors is expected in Zimbabwe in the next few months. Zimbabwe-India Chamber of Commerce Chairman Mr George Chitsinde confirmed to the ZBC News on Tuesday that Indian investors are interested in manufacturing sector projects. Zimbabwe and India enjoy cordial bilateral trade and economic ties with expectations the proposed joint venture deals will boost cooperation between the two...

Read More

ZB targets US$10m agric support

Funding for the coming agricultural season will receive a boost of US$10 million expected to be raised through agro-bills by ZB Financial Holdings. ZB is further strengthening its support for the agricultural sector and the funding will be used to access inputs and critical infrastructure. Group Chief Executive Mr Ron Mutandagayi says such investment is meant to ensure improved agricultural production in line with the vision towards becoming food self-sufficient and stimulating economic growth. Zimbabwe recorded a bumper maize harvest this year and expectations are that production will improve in the forthcoming season. The agriculture sector has received intensive...

Read More

Business backs ZDF

The business community has paid tribute to the Zimbabwe Defence Forces in maintaining peace and stability which is crucial for conducting economic activities. The business community has also joined the rest of the country in commemorating 37th anniversary of the Zimbabwe Defence Forces and the role they have played in safeguarding peace in the country. In separate interviews with ZBC News, the business people say security forces continue to maintain a pivotal role in ensuring peace and stability, which is a critical component in attracting investment, boosting productivity, enhancing economic growth, increasing exports and facilitating employment creation among other...

Read More

Online Stream