Home / Business (page 7)

Business

BAT Zim’s volumes dip

Tawanda Musarurwa Listed cigarette manufacturer, BAT Zimbabwe’s overall volumes, declined by 18 percent in the nine months to September 30, 2019 as sales waned during the period, highlighting the negative effects of the cigarette excise regime from a single specific to a mixed regime system. The group’s sales performance is …

Read More »

RTG to lose US$12m in revenue during makeover

BY TATIRA ZWINOIRA THE Rainbow Tourism Group (RTG) has chosen to forego US$12 million in potential revenue at its flagship Rainbow Tower Hotel in Harare to allow for refurbishments. RTG closed its bookings and hotel rooms from December 18, 2019 to January 31, 2020 to complete a refurbishment of the …

Read More »

Business warns govt against printing money

BY MISHMA CHAKANYUKA Business leaders have warned government to desist from excessive money printing, as it is negatively affecting real growth. Inflation happens if the money supply grows faster than economic output because there would be a lot more money chasing fewer goods, which leads to price hikes. “For a …

Read More »

ED Predicts +3 Percent GDP Growth First Three Months of 2020

By Staff Reporter PRESIDENT Emmerson Mnangagwa has projected a plus 3 percent growth in the country’s Gross Domestic Product (GDP) in the first three months of 2020, adding that the country has not registered any growth this year. He said this while launching the Mutare Urban Renewal project at Sakubva …

Read More »

StarAfrica’s Sugar Production Down 4 000 Tonnes Due to Power Shortages

By Alois Vinga LISTED sugar producer, StarAfrica Corporation Limited (SACL) production went down 3 744 tonnes in the firm’s first half ended September 30 2019 owing to choking electricity shortages obtaining nationwide. Speaking during the presentation of financial performance recently, SACL chairman, Joseph Mutizwa said power shortages affected productivity. “Our …

Read More »

Humans Have Longer Life Expectancy Than Their Money

By Carin Smith One of the consequences of people increasingly living longer, is that it has changed the number of working years compared to those eventually spent in retirement. Pension funds today should be investing for a “horizon” of 80 years or more, as technology and medical research advances at …

Read More »

Tanganda records tea export increase

By Enacy Mapakame Zimbabwe’s biggest grower and producer of tea and coffee, Tanganda Tea Company Limited — a subsidiary of Meikles Limited — says bulk tea exports marginally increased although production suffered a significant decline during the half year to September 30, 2019. According to Meikles group executive chairman John …

Read More »

Government to capacitate Ipec

By Ishemunyoro Chingwere Government is committed to capacitate the Insurance and Pensions Commission (IPEC) so that it plays a critical role towards achieving growth of the insurance penetration rate to about 20 percent, Finance and Economic Development Minister Professor Mthuli Ncube has said. Minister Ncube said this while addressing IPEC …

Read More »

‘Vic Falls best investment destination

By Ishemunyoro Chingwere South African television personality and entrepreneur, Maps Maponyane, says is impressed by the number of projects underway in the resort town of Victoria Falls adding Zimbabwe is currently the best investment destination in the region. Mr Maponyane arrived in Victoria Falls on Saturday at the invitation of …

Read More »

Positive Outlook for Gold

Gold looks set to end the year with double-digit gains and is likely to maintain its upward trajectory in 2020. At press time, the yellow metal is trading at US$1 477 per Oz, representing 15,25 percent gains on a year-to-date basis. Anything above 13, 2 percent would be the biggest …

Read More »