News about Zimbabwe that you can use
The equities market is seen maintaining a bearish trend this year on the back of a prolonged poor economic performance underpinned by liquidity constraints that characterised much of last year, a local brokerage firm has projected.
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The clothing sector lost at least 500 jobs in 2014, as it continues to reel under low capitalisation levels and the influx of cheap fabrics from outside the country, an industry official said today.
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The Confederation of Zimbabwe Industries (CZI) says the government has to show that it has policies that will revive the country’s moribund manufacturing sector and improve investor confidence.
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While media reports say former Vice-President Joice Mujuru is under pressure to form a new political party before March, one of his alleged main backers, Didymus Mutasa, insists that he and his unnamed colleagues still belong to ZANU-PF.
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Multiple regulatory requirements are hampering business start-ups in Zimbabwe due to the ‘burdensome’ registration processes, a study has shown, adding that if unchecked, the economy would continue to struggle for new business.
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Creditors of Archer Clothing Manufacturers on Wednesday finally approved its take-over by Harare-based Paramount Garments, saving it from liquidation, documents from the Bulawayo High Court have shown.
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The African Capacity Building Foundation says it extended $1.3 million to Zimbabwe last year to foster regional integration and economic research and $20 million for project development.
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Zimbabwean companies are set to benefit from a €700 million facility unveiled last July by the Netherlands government earmarked for the development of small to medium businesses in 66 developing countries, the Dutch envoy has said.
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The country’s sole manufacturer of knitting yarn, Karina Textiles, which was placed under provisional liquidation two years ago after failing to raise new investment, has put all its assets on the market to raise funds to pay off creditors, the liquidator has said.
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