The Insider

Cement maker Sino-Zimbabwe will spend up to $5 million in capital expenditure this year to double its output from the current 300 000 tonnes annually by year end, a company official has said.

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Zimbabwe government’s domestic borrowing jumped 52 percent to $544.03 in January year-on-year from $358.80 million in the same period a year ago, the central bank said on Thursday.

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Crocodile breeder Padenga has reported a 21 percent growth in profit after tax to $6 million for the full year ended December 2014 driven by raw skin sales, the company said on Thursday.

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President Robert Mugabe yesterday set 10 June as the date for the by-elections to fill the seats lost by legislators from the Movement for Democratic Change Renewal Team after the MDC-Tsvangirai recalled the seats because the legislators were elected on an MDC-T ticket but had crossed the floor when they joined the United Movement for Democratic Change.

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Brick-maker Willdale has recorded $3.6 million growth in revenue for the five months to February this year, up from $2.9 million achieved during the same period last year driven by increased output, the company’s chief executive said yesterday.

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State owned enterprises are sitting on idle assets which could be listed on the newly demutualized Zimbabwe Stock Exchange (ZSE) for the benefit of the economy, Finance Minister Patrick Chinamasa has said.

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Zimbabwe’s exports are this year seen recovering by a marginal three percent, after declining by nearly 13 percent in 2013, but output of primary commodities is likely to remain weak with the manufacturing sector underperforming, according to a report by the country’s trade agency.

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