Articles tagged 'manufacturing'

Nestlé Zim retrenches 19 September 2017 HARARE - Multi-national food and drink company, Nestle Zimbabwe, has embarked on a retrenchment exercise, as part of the company's “business optimisation activities”. The exercise, which was voluntary, saw more than 20 workers exiting the company, which employs more than a 100. “Despite our ...
'SI64 saved local industry' 7 July 2017 VICTORIA FALLS - Zimbabwe's manufacturing industry was saved from total collapse by the imports ban policy implemented by the government exactly a year ago, a new study has shown. The country, through Industry minister Mike Bimha introduced Statutory Instrument 64 of 2016 (SI64) to help resusc...
Govt slammed over imports ban flip-flop 22 May 2017 HARARE - Scrapping of government's imports ban policy — Statutory Instrument (SI) 64 — is long overdue, as the measure was “ill-advised and never the solution” for Zimbabwe's deepening economic crisis, economists and industry players said. This comes amid flip-flop in government's position on ...
Govt imports ban fuels smuggling: Bimha 16 March 2017 HARARE - Zimbabwe's ever-bumbling government is struggling to contain the rampant smuggling of imported basic consumer goods that it ill-advisedly banned last year, in a desperate bid to lower the country's imports bill, shore up the State's empty coffers and protect local manufacturers. In a ...
Zim industry rebounds: CZI 24 November 2016 HARARE - The Confederation of Zimbabwe Industries (CZI) has sensationally claimed that local industry is on a rebound despite the worsening economic situation in the country that has seen gross domestic product growth being slashed by half this year. In a surprisingly optimistic survey release...
Zim's mining, manufacturing sectors shed 30 100 jobs 15 April 2015 HARARE - The Zimbabwe National Statistics Agency (Zimstat) says 30 100 workers lost their jobs in the mining and manufacturing sectors last year. “There has been a decline in the number of people employed in the manufacturing sector from 118 600 employees to 93 100 in 2014 and the mining sec..
Manufacturing industry bleeding to death: RBZ 6 April 2015 HARARE - Zimbabwe's manufacturing industry is bleeding to death after the sector contracted by a negative 4,9 percent in 2014, latest statistics from the central bank show. In its quarterly economic report released yesterday, the Reserve Bank of Zimbabwe (RBZ) attributed the massive decline in...
Lafarge debt balloons to $4,8m 13 March 2015 HARARE - Lafarge Cement Zimbabwe Limited (Lafarge)'s short-term borrowings ballooned by 380 percent to $4,8 million in the year to December 2014 from $1 million in prior comparable period as the company battled to meet working capital requirements. As a result, the listed cement manufacturer i...
Stop obsession with primary production 7 November 2013 HARARE - Those who believe that agriculture is the backbone of the Zimbabwean economy need to revise this fascination very quickly. Any country in the developing world that celebrates and accepts the notion that its prosperity will be anchored in primary and extractive industries will forever ...
Chinamasa calls for industry innovation 24 September 2013 HARARE - Newly appointed Finance minister Patrick Chinamasa has urged Zimbabweans to be innovative in order to further increase industrial capacity utilisation and boost production. Chinamasa told a taxpayer appreciation commemorations day yesterday that the country had lost a lot of ground in...