Someone trying to explain inflation, according to an article I read in Zambia – I cannot remember exactly where-had this to say: When a man went into a coffee shop and ordered a cup, he was asked to pay $500.
Though Ashanti Goldfields’s production for the first quarter of this year was 7 percent below that of the first quarter of last year, net profit was less than half that for the same period.
Although its domestic sugar business made a staggering loss of $826.4 million, ZSR Corporation, still managed to make a net profit of $4.1 billion, nearly ten times the profit of $437.7 million it made last year.
Despite the shortages of electricity, cement, coal, fuel and other utilities which have become a daily challenge, PG Industries says it has so far been able to read the Zimbabwe economy accurately.
Construction company Murray and Roberts had a good start to the current year with net profit for the first half increasing by 516 percent from $270 million to $1.7 billion.
Gold production at Ashanti, which has mines in Ghana, Tanzania and Zimbabwe dropped slightly last year from 1 656 784 ounces in 2001 to 1 621 919 ounces last year.