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AMA raises $75m for grain procurement

Martin Kadzere Senior Reporter The Agricultural Marketing Authority has raised $75 million for grain procurement after the agro-bills it issued last month were fully subscribed, an official said. Analysts said the overwhelming response is largely attributed to growing appetite for such instruments in light of perceived uncertainty over Zimbabwe’s currency …

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Cement sector has excess capacity: Lafarge

Bulawayo Bureau Zimbabwe cement industry has excess capacity to meet the 1,3 million tonnes annual domestic demand as the sector has an installed capacity of 2,4 million tonnes, an official has revealed. Last month the market experienced cement shortage, which the country’s largest cement producer, PPC Zimbabwe, attributed to annual …

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Car Dealers in Panic Mode

There is a drastic increase in motor vehicle imports through Beitbridge Border Post as dealers are rushing to buy cars in South Africa, amid speculation that Government will soon demand payment of duty in foreign currency instead of bond notes. It is understood that the dealers went into panic mode …

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Wheat supply remains critical

Enacy Mapakame Herald Reporter Zimbabwe’s wheat supplies remain critical due to logistical challenges arising from failure by the National Railway of Zimbabwe to speedily move the grain from Beira, Mozambique. The Grain Millers Association of Zimbabwe said nearly 180 wagons were stuck in Beira, blaming the NRZ for the slow movement …

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Gold extends rally

Gold futures yesterday looked likely to extend a rally that has returned prices to July levels, with a generally upbeat tone in place even with volatile stock markets quieted. Fresh weakness for a leading dollar index helped gold hold higher ground as December gold GCZ8, +0,32 percent  rose $2,90, or 0,2 …

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