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Zimbabwe trade deficit hits US$34bn as industrialisation flops
ZIMBABWE has since 2002 accumulated a trade deficit of more than US$34 billion, a clear indication that the country's industrialisation-led import-substitution programmes have failed, new data show....Published: 11 Jun 2022 at 09:31hrs | 3 | by Staff reporter
Shortages show the poverty of ideas in govt
THE shortage of most locally-manufactured basic commodities due to the shocking decision by President Emmerson Mnangagwa's government to impose a blanket ban on bank lending to everyone, including the...Published: 17 May 2022 at 06:37hrs | 1 | by Staff reporter
Retailers dump Zimdollar
RETAILERS in Harare have dumped the Zimbabwe dollar and are demanding payment in United States dollars for a number of basic goods such as cooking oil and dairy products.Some large wholesalers...Published: 28 Apr 2022 at 09:05hrs | | by Staff reporter
Air Force of Zimbabwe chopper goes down
AN Air Force of Zimbabwe (AFZ) helicopter reportedly crashed yesterday near Chibhero College in Mhondoro, but police and army officials were coy on details about its passengers and possible casualties...Published: 11 Apr 2022 at 06:38hrs | 6 | by Staff reporter
Surface Wilmar's plant 75% complete
THE country's biggest cooking oil manufacturer, Surface Wilmar says its US$24 million plant that is under construction in Harare will commence production in September.The plant was shut down i...Published: 06 Apr 2022 at 06:30hrs | 5 | by Staff reporter
Surface Wilmar in US$50m Olivine revival plan
THE country's biggest cooking oil manufacturer, Surface Wilmar has put in place a revival plan for Olivine Industries, which will result in a US$50 million upgrade of the Willowvale plant in Harare....Published: 01 Apr 2022 at 09:15hrs | | by Mukunda Chitova
Apostolic sect seeks to cash in on followers
AN apostolic sect is seeking business ventures with food manufacturers in a deal that would see some products bearing the logo of the religious group.In a letter to food companies dated Decemb...Published: 24 Dec 2021 at 07:30hrs | 6 | by Staff reporter
IDC throws out bids for Deven
TWO local companies seeking a shareholding in Deven Engineering had their bids thrown out after they failed to offer the "best value for money" for the coach builder.Deven's core competence is...Published: 22 Nov 2021 at 05:50hrs | 5 | by Staff reporter
Another Air Force of Zimbabwe chopper crashes
AN Air Force of Zimbabwe (AFZ) helicopter crash-landed near oil expresser Surface Wilmar in Chitungwiza on Thursday evening, but details of the accident have been kept under wraps.The chopper ...Published: 10 Jul 2021 at 11:00hrs | 6 | by Staff reporter
Vapostori fined for violating COVID-19 regulations
THREE leaders of an apostolic sect escaped a 10-day jail term after they were alternatively fined $4 000 each on Tuesday for breaking COVID-19 regulations after they led a group of congregants to wors...Published: 10 Jul 2021 at 10:59hrs | | by Staff reporter
More businesses benefit from RBZ forex auction system
THE Reserve Bank of Zimbabwe (RBZ) on Wednesday published a list of institutions and individuals that have accessed foreign currency from the auction system from June 2020 to April 2021. A tot...Published: 14 May 2021 at 08:23hrs | | by Staff Reporter
ZCTU slams businesses for double dealing
THE Zimbabwe Congress of Trade Unions (ZCTU) has slammed some local businesses for enjoying access to foreign currency at the official rate while unfairly pricing their goods and services using parall...Published: 04 Apr 2021 at 09:01hrs | | by Staff reporter
RBZ warns banks
The Reserve Bank of Zimbabwe (RBZ) has warned banks which offer overdrafts to companies to buy foreign currency from the auction system saying such a move creates speculation in the market and promote...Published: 18 Mar 2021 at 06:42hrs | | by Staff rpeorter
The reality of stagflation in Zimbabwe
The current fiscal year is turning out to be a challenging year for the Zimbabwean economy. The country is experiencing all the features of economic decline from a recession, high unemployment rate, d...Published: 20 Jul 2019 at 19:31hrs | | by Victor Bhoroma
Power blackouts force Zimbabwe firms to shut down
Zimbabwe's economy could grind to a halt if power outages gripping the nation persist as production plunges, exports decline, companies lay off staff and disposable incomes shrink, after it emerged th...Published: 19 Jul 2019 at 07:57hrs | 1 | by Staff reporter
Surface Wilmar resumes operations
ONE of Zimbabwe's largest cooking oil manufacturers, Surface Wilmar has resumed operations after receiving foreign currency support from the Reserve Bank of Zimbabwe to kick-start operations. ...Published: 27 May 2019 at 06:28hrs | | by Staff reporter
Olivine shuts down margarine plant
AGROPROCESSING firm, Olivine Industries Private Limited, has closed its margarine plant, management has confirmed. Olivine used to produce Buttercup margarine, Olivine cooking oil and jade soap among ...Published: 08 Apr 2019 at 06:35hrs | | by Staff reporter
Mnangagwa trumpets Indian support to Zimbabwe's economic reconstruction
PRESIDENT Emmerson Mnangagwa yesterday applauded the immense contribution of India to Zimbabwe's economic reconstruction, diplomacy and international politics. Represented by Patrick Chinamasa...Published: 01 Apr 2019 at 21:36hrs | | by Staff reporter
Mthuli Ncube pledges to tackle capital flight
FINANCE minister Mthuli Ncube on Monday pledged to support food and beverage manufacturer, Nestle Private Limited, as government desperately tries to contain capital flight.A large number of c...Published: 13 Feb 2019 at 08:40hrs | | by Staff reporter
Zimbabwe banks plunge deeper into forex crisis
A vendor counts money at a vegetable street market in Caracas, Venezuela, on Wednesday, Aug. 17, 2016. Venezuela's imports from its six biggest trading partners including Brazil, the U.S., China, Arge...Published: 01 Feb 2019 at 14:06hrs | | by Staff reporter
'Govt subsidies for private players not sustainable'
Government has been warned against clandestine price controls being effected through its stranglehold on foreign currency allocation.Economic analysts said there were companies that were being...Published: 27 Jan 2019 at 19:18hrs | | by Staff reporter
Harare supermarkets run out of basic foodstuffs
MOST supermarkets in Harare's central business district (CBD) are running out of stocks of basic goods as supply lines are drying up, the NewsDay has established.A survey done by NewsDay over ...Published: 22 Jan 2019 at 08:52hrs | 1 | by Staff reporter
Cry my beloved Zimbabwe . . . as country is closed for business
Once open for business, Zimbabwe is closed for business.Shops are closed, people are scared and companies are closing just as is the democratic space that President Emmerson Mnangagwa opened u...Published: 20 Jan 2019 at 12:25hrs | 6 | by Staff rpeorter
Zimbabwe's woes deepen
Not having a currency of its own hasn't stopped Zimbabwe from sliding into a currency crisis.A scarcity of foreign exchange has led to long queues for fuel, bread and medicine and sent prices ...Published: 15 Jan 2019 at 12:56hrs | 1 | by Bloomberg News
Dear President Mnangagwa, our demands are simple
Dear Mr President,Let's start by talking about what's important to Zimbabweans.The things Zimbabweans demand are not complicated. They are not anything out of the ordinary.They...Published: 14 Jan 2019 at 22:58hrs | | by newZWire
Mthuli Ncube's budget: The good, bad and ugly
In September, while meeting fund managers in New York, Finance minister Mthuli Ncube said what the economy needed was a "big bang", a shock to the system. A week later, he brought that big bang; on th...Published: 26 Nov 2018 at 06:08hrs | 1 | by NewZWire
Forex shortages cripple cooking oil maker
Surface Wilmar, the country's largest cooking oil manufacturer, says it owes its external suppliers US$22 million because of acute foreign currency shortages locally.The revelations were made ...Published: 11 Nov 2018 at 12:24hrs | 1 | by Staff reporter
Zimbabwe as a new gateway into Africa
ON Friday afternoon of 2 November 2018, I visited Surface Wilmar based in Chitungwiza, Harare. The company is owned by one of the largest companies in the world in the production of edible oils, based...Published: 05 Nov 2018 at 14:36hrs | | by Minister of Finance Prof Mthuli Ncube
Zimbabwe as a new gateway into Africa
ON Friday afternoon of 2 November 2018, I visited Surface Wilmar based in Chitungwiza, Harare. The company is owned by one of the largest companies in the world in the production of edible oils, based...Published: 05 Nov 2018 at 05:21hrs | | by Hon. Prof Mthuli Ncube
Mthuli Ncube probes cooking oil shortages
Finance minister Mthuli Ncube has commenced touring manufacturing firms, starting with a visit to Surface Wilmer, the largest cooking oil manufacturer in Zimbabwe.Surface Wilmar (Pvt) Ltd, sit...Published: 04 Nov 2018 at 12:40hrs | 1 | by Staff reporter
Government in bid to recapitalise Olivine Industries
The government is considering selling part of its stake in Olivine Industries to an external investor to raise foreign currency towards recapitalising operations.The tour of the cooking oil ma...Published: 03 Nov 2018 at 08:42hrs | | by Staff Reporter
Mthuli Ncube starts #Zimbabwe industry tour with visit to Surface Wilmer, largest cooking oil manufacturer in Southern Africa
Minister of Finance Prof Mthuli Ncube visits Surface Wilmer who are the largest producer of edible oils in #Zimbabwe, largest cooking oil manufacturer in Southern Africa, & are also partners with ...Published: 02 Nov 2018 at 20:08hrs | | by Agencies
Zimbabwe companies expected to close shop, massive job losses loom
The lifting of a protectionist policy introduced by former president Robert Mugabe's regime last year to promote local production could see companies closing shop, resulting in massive job losses, ind...Published: 25 Oct 2018 at 14:09hrs | | by Staff reporter
Cooking oil producers say supply is adequate
At a time the country is battling cooking oil shortages, oil producers say they have sufficient crude oil to meet demand.United Refineries, the edible oils producer said it received close to 1...Published: 11 Oct 2018 at 06:45hrs | | by Staff reporter
'No Zanu-PF rally shall be cancelled,' says Chiwenga
Vice President Retired General Dr Constantino Chiwenga said no Zanu-PF rally shall be cancelled due to fear of the attempt on the President's life in Bulawayo yesterday.Addressing a well atten...Published: 24 Jun 2018 at 18:51hrs | | by Staff reporter
Command Agriculture requires $1,3 billion
Zimbabwe's main agro-import substitution programme, commonly referred to as Command Agriculture, requires close to $1,3 billion to take off as the country steps up efforts to raise local production an...Published: 27 May 2018 at 10:08hrs | 5 | by Staff reporter
SMEs transition key in uplifting the Zimbabwean Economy
The transition of SMEs to big business or corporates is pivotal in any economy in the world. It is actually the relative measure of how well an economy is performing as SMEs are the seed-bed of busine...Published: 18 May 2018 at 17:51hrs | 1 | by Victor Bhoroma
SAP sets a solid foundation for Wilmar Zimbabwe
With consumers more empowered than ever thanks to the convergence of technologies creating a hyperconnected world, businesses need to be flexible enough to adapt to changing customer needs. Since ente...Published: 26 Feb 2018 at 10:50hrs | | by Agencies
SMEs transition key in uplifting economy
The transition of SMEs to big business or corporate is pivotal in any economy in the world. It is actually the relative measure of how well an economy is performing as SMEs are the seed-bed of busines...Published: 04 Feb 2018 at 15:38hrs | | by Victor Bhoroma
Consumer council slams retailers
THE Consumer Council of Zimbabwe (CCZ) yesterday slammed retailers for increasing prices of some basic commodities without justification.In an interview with The Herald, CCZ executive director Ms Rose...Published: 27 Sep 2017 at 06:20hrs | | by Staff reporter
Jah Prayzah plots Harare shut down
THERE are several ways of measuring the success of an album but almost all of them have to be post release.Yet a lanky musician from Uzumba, Jah Prayzah has traversed that with an album th...Published: 12 Aug 2016 at 16:25hrs | | by Staff reporter
Zimra fails to refund importers
STOP charging value added tax (VAT) and duty on machinery imports as the tax collector has no money to refund companies, an oil expresser has said.Surface Wilmar chairperson Somani Narotam...Published: 19 Jul 2016 at 06:31hrs | | by Staff reporter
Local cooking oil manufacturer to expand operations
Cooking oil manufacturer, Surface Wilmar is set to double output by next month following an injection of US$15 million for the expansion of the plant.The need to double output after the in...Published: 15 Jul 2016 at 20:23hrs | | by Staff reporter
Jah Prayzah to give away two cars to fans
LUCKY fans who will buy tickets to Jah Prayzah's album launch either in Harare or Bulawayo stand a chance to win big. Forget the two fridges and equal number of television sets to be won by any four o...Published: 10 Jul 2016 at 07:28hrs | | by Mtandazo Dube
Netherlands humiliate Spain
Spain 1 - 5 NetherlandsSalvador - Robin van Persie and Arjen Robben scored twice each as the Netherlands avenged their 2010 Soccer World Cup final defeat to Spain with a record 5-1 drubbing of the...Published: 14 Jun 2014 at 08:28hrs | | by AFP
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