Business

MINING houses operating in Zimbabwe are enhancing their existing emergency preparedness measures in the wake of the outbreak of the novel coronavirus (Covid-19) disease.

STANBIC Bank (Stanbic) has temporary closed its Victoria Falls and Hwange branches as part of preventive measures against the spread of the Covid-19 global pandemic.

DAIRIBORD Holdings (Dairibord) says it has put in place risk mitigation measures to ensure consistent supply of products in response to the coronavirus pandemic (Covid-19) outbreak.

ZIMBABWE Stock Exchange-listed wine and spirit maker African Distillers (Afdis) says business outlook for the company remains bleak as hyperinflation, poor agricultural season and the continued foreign currency shortages impact negatively…

NEDBANK Zimbabwe Limited has appointed Sibongile P Moyo as its new managing director, taking over from Charity Jinya, who held the leadership rope for the past decade.

NATIONAL Foods has said anticipated reduced yields for the 2019/20 agricultural season will result in the company continuing to import significant quantities of raw materials.

THE coronavirus (Covid-19) pandemic, which first broke out in China's Wuhan Province in December and has since spread to over 150 countries, has had devastating effects across the globe.

ENERGY minister Fortune Chasi says government is planning to increase petrol-ethanol blending from the current 10 percent to 20 percent by 2025 to cut import expenses.

TRANSPORT minister Joel Matiza says the government is upgrading the country’s air traffic communication systems and equipment in line with technological advancements.

BRITISH financial institution Standard Chartered Bank (StanChart) says it is committed to invest in the future of Zimbabwe.

VOLATILITY of the local currency and the prevailing hyperinflationary environment have made it difficult to give a satisfactory valuation of listed companies, a new report has revealed.

AFRICAN Economic Development Strategies (AEDS) has urged government to adopt for a dual currency — where the Zimbabwean dollar and the US dollar are used as the main currency.

AXIA Corporation Limited (Axia) says profit surged 64 percent to $74,76 million in the six months ended December 31, 2019 from $45,42 million in prior period, despite inflationary pressures on costs.

LAFARGE Cement Zimbabwe (Lafarge) yesterday unveiled a US$2,2 million dry mortar mix products plant, which is part of the group’s US$25 million phased projects.

TRANSPORT minister Joel Matiza, pictured, says government is currently evaluating the cost of Zimbabwe’s integration into the Kazungula one-stop border-post and bridge after it completed all of the pre-construction works.

ZIMBABWE recorded over $500 million budget deficit in the 11 months to November 2019, official figures show. The latest development is in sharp contrast to Finance minister Mthuli Ncube, pictured ’s assertion that the country registered a…

THE International Monetary Fund (IMF) says Zimbabwe’s target to reduce annual inflation to 50 percent by the end of the year from 500 percent in December 2019 is achievable.

THE Zimbabwe Coalition on Debt and Development (Zimcodd) has urged the government to heed International Monetary Fund (IMF) which recently warned against borrowing to finance another debt.

BUSINESSES have been urged to invest in solar energy to beat the electricity crisis which is crippling the country’s industrial and manufacturing sectors.

THE government should adopt and put emphasis on pro-business reforms to enhance export earners’ capacity to earn foreign currency and capacitate industry in order to reduce the need for imports and improve foreign currency inflows…

THE Zimbabwe Stock Exchange (ZSE) will recover this year as valuation mismatches on stocks brought by the de-dollarisation of the economy are corrected, a latest report has said.

OLD Mutual Zimbabwe Limited has partnered with Easy Power Limited to install a ground-mounted solar system at its Mutual Gardens which will be commissioned in August, this year.

ZIMBABWE will remain in recession averaging real Gross Domestic Product (GDP) of -1,2 percent over the next three years, a regional think tank has said.

SASAI, the all-in-one mobile application from Cassava Fintech International (CFI), has incorporated almost 50 African languages — including Shona and Ndebele — and a total of over 80 languages across the globe.

GETBUCKS says it is geared to grow its customer base despite the current harsh economic environment being experienced in the country.