AGRO-INPUTS retailer Farm and City as well as one of their directors Tanaka Hofisi yesterday appeared in court on allegations of inflating the exchange rate to $184 against the United States dollar. Hofisi was not asked to plead to the allegations when he appeared before regional magistrate Stanford Mambanje. His lawyer abandoned bail application at…
HWANGE Colliery Company Limited (HCCL) is targeting to consistently produce at least 200 000 tonnes of coal monthly following improved funding in the form of lines of credit from regional financiers and local banks. In a statement accompanying the company’s financial results for the year to June 30, HCCL said a lot of work had…
NATIONAL Foods Holdings Limited is set to install a state of the art US$5 million flour milling plant at the firm’s factory in Bulawayo meant to ensure an uninterrupted supply of the product in the country’s southern region. In a statement accompanying financial results for the year ended June 30, the diversified agro-industrial concern revealed…
by Neeraj Madzivanyika Talent Acquisition Consultant| Industrial Psychology Consultants
DEPUTY Agriculture minister Vangelis Haritatos says financial institutions and farmers need to cultivate a mutually beneficial relationship which will not drown the latter in high interest loans. Speaking during a webinar organised by First Capital Bank, formerly Agribank, under the theme, “The Agribusiness Value Chain in Zimbabwe”, Haritatos said besides finding it difficult to access…
RIOZIM Limited says it will prioritise the completion and commissioning of its Biological Oxidation (BIOX) plant project before the close of the financial year to December 31 to increase gold production. This comes after the group suffered a further inflation adjusted loss of US$1,4 billion for the half year to June 30, 2021 from $77,4…
LISTED conglomerate Innscor Africa Limited (Innscor) recorded an inflation adjusted revenue of $66,9 billion for the year to June 30, 2021 up from $49,4 billion prior year on the back of volume growth across all businesses. In a statement accompanying the group’s financial results for the period under review, Addington Chinake, Innscor’s chairperson, said profit…
NATIONAL Foods Holdings Limited (Natfoods) says it has taken steps to sharpen accountability at a business unit level in order to become more alert and responsive to the prevailing economic environment. This follows after the group recorded an inflation adjusted profit after tax of $72,4 million for the year to June 30, 2021 from $2,2…
STEWARD Bank, Zimbabwe’s largest bank by depositors, has recorded a $386 million net profit in historical terms in the full year to February 28, 2021, up from $57 million posted in the previous corresponding period. Courage Mashavave, pictured, the bank’s chief executive officer, said the jump in profit mainly emanated from net interest income, which…
PRESIDENT Emmerson Mnangagwa will be the keynote speaker at The CEO Roundtable 2021 which will run in Victoria Falls from October 27 to 29. The CEO Roundtable, a prestigious gathering of African chief executives, bankers and investors, board chairpersons and entrepreneurs, will run under the theme, “Charting the recovery curve, building momentum — crushing Barriers,…
