News about Zimbabwe that you can use
Zimbabwe’s ministry of mines has suspended 11 gold millers for failing to comply with production and marketing arrangements, an official said on Friday.
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Bulawayo City Council’s Ingwebu Breweries is struggling under pressure from falling demand for its products and the high cost of operating its antiquated machinery, chairman Moffat Ndlovu has said.
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Zimbabwe will experience more power cuts in December due to maintenance being carried out at Kariba South power station, a Zimbabwe Power Company official said today.
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Zimbabwe’s treasury has reported a budget surplus of $3 million for August driven by over the budget individual taxes and cuts in operating expenses despite missing aggregate revenue targets, according to latest official data.
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The level of non-performing loans in Zimbabwe’s banking sector has escalated to an average 20 percent from 18 percent in June on rising defaults as the economy continues to underperform, worsening the cash shortages, the central bank governor John Mangudya said yesterday.
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The Confederation of Zimbabwe Industries (CZI) says regulatory charges imposed on companies by government agencies are too high and are contributing to the burden of doing business in the country.
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Hippo Valley Estates has reported a net profit of $9 million for the six months to September, matching its performance for the 2013/2014 year after sales volumes in both the domestic and export markets despite falling prices which could hit revenues in future.
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