Despite a dramatic decline in agricultural production largely because of the country’s agrarian reform programme, tobacco giant, TSL, saw its sales increase nearly three-fold from $6.2 billion to $16.2 billion.
Price controls that were extended to cover almost all basic commodities towards the end of last year adversely affected packaging company Hunyani Holdings because of a decline in demand for commercial packaging.
International tourism wholesalers are now beginning to believe and to accept that, contrary to some media campaigns, Zimbabwe is one of the safest tourism destinations in the world but the tourism industry is likely to remain in deep recession this year.
Agricultural inputs company, Chemco has lamented the introduction of price controls and the recent changes in foreign currency regulations saying they will hamper growth of the company.
The exchange rate of $800 to the greenback on the second half of all proceeds from exports was agreed to by the three social partners in the Tripartite Negotiating Forum and could bring back sanity in the forex market.
Inflation, considered by the World Bank to be the greatest tax on the poor, could President Robert Mugabe’s nemesis.