Stories

Tobacco prices have improved in recent days with the trend expected to continue as the selling season gains momentum after a false start to the season that saw farmers protest over poor prices, the industry regulator has said.

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I hate bullies, be they human or corporate. Their intention is to instill the fear of God, mainly to avoid scrutiny. I had this feeling about Econet Wireless and Steward Bank this in the past few weeks after reading about their “raid” of The Source, a media house. I write this opinion with a heavy heart since I have been a shareholder of Econet since inception, and by extension, am also a shareholder of Steward Bank.

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Zimbabwe has received nearly $34 billion in foreign currency receipts since the inception of the multi-currency system against national payments of about $36 billion over the same period with the informal non-bank system accounting for the deficit, the Reserve Bank has said.

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Delta Corporation’s sorghum beer, Chibuku Super now contributes 50 percent of volumes sold by the Zimbabwe Stock Exchange-listed heavyweight, which reported a five percent decline in revenue for the quarter ending March as demand for beverages continues to fall on the back of an underperforming economy.

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Zimbabwe remains an attractive investment destination for long-term investors with a focus on sub-Saharan Africa despite its mounting economic woes, according to a local advisory firm.

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The Constitutional Court today threw out the case in which former Movement for Democratic Change- Tsvangirai Secretary-General Tendai Biti and 20 other legislators were challenging their expulsion from Parliament because it had no merit.

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The Deposit Protection Corporation (DPC) has moved into the collapsed AfrAsia Bank after being granted a provisional liquidation order by the High Court and has started paying out $4.5 million to depositors whose funds were locked in the bank.

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A team of German investors is next week expected in Zimbabwe to seek opportunities in the mining sector, as relations between Harare and Western states continue to improve after nearly two decades of the southern African state’s isolation over alleged rights abuses.

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Diversified Bulawayo group, Treger Products, has reduced the number of working days to two weeks a month at subsidiary, Zimbabwe Grain Bag (ZGB,) as challenges affecting the textile industry continue unabated.

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Zimbabwe has recorded a 12 percent growth in exports to $868.7 million in the first three months of the year compared to the same period last year driven by mineral shipments, latest central bank figures have shown.

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