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‘Animal husbandry to revive agric sector’

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HARARE – Platinum mining giant, Zimplats, says it is committed to revive Zimbabwe’s agriculture sector by supporting animal husbandry. “Cattle farming still has great potential for reforming the agricultural sector in Zimbabwe,” the company said. Zimplats, which recently launched a cattle artificial insemination programme targeting 6 000 semen straws into a livestock population of 3…

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Old Mutual records $219m profit

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HARARE – Integrated financial services group, Old Mutual Zimbabwe Limited (OM) said its profit after tax went up 139 percent to $219 million in the full year to December 31, 2017 from $91,8 million due to improved business performance across all the company’s units. Old Mutual chairperson Johannes Gawaxab yesterday said the group’s adjusted operating…

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NMB doubles profit

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HARARE – Dual listed financial services group, NMBZ Holdings, has doubled its profit after tax to $10 million in the full year to December 31, 2017. The group’s banking subsidiary, NMB Bank, achieved a capital adequacy ratio of 24,26 percent. The minimum required by the Reserve Bank of Zimbabwe is 12 percent. NMB’s regulatory capital…

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ICT innovation drive a game changer

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HARARE – Government’s decision to set up a multi-million dollar fund to promote technological innovation will result in Zimbabwe becoming a southern Africa information and communication technology (ICT) hub, experts say. This was after President Emmerson Mnangagwa this month officially launched the $25 million fund aimed at empowering innovators that are making technological advancements in…

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Govt sets up Zim branding committee

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HARARE – Government – through the Public Affairs Department – has created a National Branding Committee consisting of officials from public service, private sector and civic organisations to promote “Brand Zimbabwe” in tourism, trade and investment. Aimed at improving the image of the country, the branding exercise is targeting the tourism sector, exports, immigration and…

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CBZ earmarks $10m for SMEs

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HARARE – Zimbabwe’s largest financial services group by asset base, CBZ Holdings, says it has this year set aside $10 million for the development of the country’s small to medium enterprises sector. The group’s acting chief executive Peter Zimunya told journalists on the sidelines of the ongoing SMEs International Indaba in Bulawayo that CBZ was…

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Zim crafts new policies to spur industry

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HARARE – Zimbabwe is drafting a raft of new policies aimed at strengthening the country’s industries, a senior government official has said. Abigail Shoniwa, the permanent secretary in the ministry of Industry, yesterday told delegates attending the second CBZ International SMEs Indaba in Bulawayo that the new policies “will speak to business growth”. “If we…

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Nedbank promises fireworks

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HARARE – Nedbank Zimbabwe (formerly MBCA Bank) says the changeover will be twinned with a mix of “agility” and “responsiveness” to market needs, as it mounts a new plan to improve competitiveness. Managing director Charity Jinya, pictured, told reporters in Harare this week that the factors were part of the pillars that had anchored the…

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‘Farmers need more support’

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HARARE – The Zimbabwe Agricultural Society (Zas) has called for more support for farmers after it found that the contemporary support system for agriculture fails in comparison to the system that was in place half a century ago. On Wednesday, Zas hosted a dialogue on: “The role of tertiary institutions in enhancing agricultural productivity in…

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Firming crocodile skin prices buoy Padenga

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HARARE – Crocodile skins and meat producer, Padenga Holdings, yesterday reported a 53 percent increase in profit after tax for the year ended December 31, 2017, buoyed by firming prices. The group reported a profit after tax of $12,9 million for the period under review, up 52,98 percent from $8,4 million reported in the previous…

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