The Insider

Sugar producer Tongaat Hulett Zimbabwe expects to nearly double its cane production to 1.8 million tonnes in 2016, anchored by a programme to raise output by new farmers, its spokesperson said on Wednesday as the firm eyes a corresponding jump in raw sugar output to 628 000 tonnes within the next two years.

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Dairibord Holdings Zimbabwe says it has imported over 1 000 heifers to boost milk production in the country after the national herd was decimated by disease outbreaks and farm upheavals following the government’s land redistribution programme.

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The government is courting China to fund its ‘Disneyland in Africa’, a tourism and conference theme park in the resort town of Victoria Falls, officials said.

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Finance Minister Patrick Chinamasa yesterday said he had shocked ministry officials by declaring his “love” for the World Bank and the International Monetary Fund (IMF), multilateral organisations seen as hostile to President Robert Mugabe’s government.

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Zimbabwe economy is likely to grow by just one percent this year in the absence of political will to institute economic reforms, Bankers Association of Zimbabwe (BAZ) president Sam Malaba said today.

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Beverage maker Delta Corporation has sounded alarm over the impact of the poor economic outlook on its financial performance, but hopes the recent reduction in excise duty on lagers and the resumption of barley malt exports to Zambia and Mozambique could offset the impact of softening beverage demand.

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