DHL, a unit of German Post, has been operating in Zimbabwe since independence in 1980. Logistics firm DHL International says it will expand its operations in Zimbabwe after receiving government assurance that key provisions of the controversial indigenisation policy had been scrapped. The Minister of ICT, Postal and Courier Services Supa Mandiwanzira told journalists after a […]
Tag: Zimbabwe
Zimbabwe: Willdale returns to profitability on the back of volume increases and better cost management
Cost management initiatives undertaken during the year resulted in a 22 percent decline in average production costs. WILLDALE’s after tax profit for the year ended 30 September 2015 grew by 77% to $214 086 from a loss position of $931 011 in prior year and the group says it is now positioned to sustain profitability […]
Zimbabwe stock Pelhams suspended from trading on stock exchange ahead of company liquidation
PELHAMS Limited has applied for voluntary suspension in the trading of its shares with immediate effect having failed to meet its debt obligations. According to a statement from the Zimbabwe Stock Exchange (ZSE) the company notified the bourse on 24 November 2015. “Pelhams Limited wishes to advise all Shareholders that the Company has applied for […]
Zimbabwe budget forecasts 2.7% growth in 2016; 92% of budget still spent on govt wages
Zimbabwe’s Economic Development Minister Patrick Chinamasa said on Thursday the country’s economy would grow by 2.7 percent in 2016, after he rolled out measures aimed at addressing a deepening economic crisis. Zimbabwe’s economy is expected to grow by 1.5 percent this year, after initially being projected to grow by 3.5 percent. Announcing the US$4 billion […]
Zimplow’s turnover increase by 5% in Q1
“Deliveries to certain markets have been delayed while the Zambian market was affected by the weakening Kwacha”. ZIMPLOW Holding’s turnover for the quarter to March 2015 rose by five percent while profitability is still subdued because of a downturn at Mealie Brand. This is despite the company securing a number of good export contracts for […]
DHL confident of Zimbabwe growth
Leading international express and logistics company, DHL Express will be continuing its expansion and investment strategy across Sub-Saharan Africa and considers Zimbabwe as a key market within this strategy. DHL managing director of Express Sub-Saharan Africa, Charles Brewer who is in the country said Zimbabwe was seen as a strategic business hub for DHL in […]
Delays at Zim border costing importers millions
ZIMBABWE’S firms are haemorrhaging from costs incurred from delays at the country’s borders, which they blame on the Zimbabwe Revenue Authority (ZIMRA), the Financial Gazette can report. According to industry sources, the delays are being caused by the revenue collector’s centralised declaration system under which bill of entry documents are no longer processed at border […]
Is Mugabe Jeopardizing the African Union’s Credibility?
Zimbabwe’s President Robert Mugabe (seated) waits to address the 66th United Nations General Assembly at the U.N. headquarters in New York, September 22, 2011 (Courtesy Reuters/East). This is a guest post by Nathaniel Glidden, intern for the Council on Foreign Relations Africa Studies program. He is currently pursuing a Master’s in International Affairs with concentrations […]