About 38 of Zimbabwe’s state-owned enterprises and parastatals ran cumulative losses of $270 million last year alone, an official said today, indicating weak corporate governance and a deep-seated rot in public enterprises.
Capacity utilisation in Zimbabwe’s manufacturing sector declined from 47.4 percent last year to 45.1 percent in 2017, a survey by the Confederation of Zimbabwe Industries (CZI) has shown.
In the years before Mugabe took power, perceptions of him were more cardboard cut-out than reality – ranging from Marxist fanatic at one end of the spectrum to selfless liberation icon at the other.
The Minerals and Marketing Corporation of Zimbabwe (MMCZ) says mineral export volumes for the period January to September 2017 have improved ‘significantly’ compared to same period in 2016 largely driven by increased chrome exports.
Platinum production at Unki Mine in the third quarter to September 30 increased nine percent to 19 800 ounces compared to 18 200 ounces in the same period last year, largely on improved efficiencies at the mine.
Zimbabwe’s financial sector could come under great strain if government defaults on honouring maturing treasury bills, with local banks facing undercapitalisation and the economy facing a recession.