Umdhala wethu gala and the elections

For ZANU-PF, the Umdhala Wethu gala, held at Ascot Stadium in Gweru to commemorate the death of former vice-President Joshua Nkomo five years ago, was not just an event. It was a rallying point at which the party sold itself ahead of the 2005 elections. Full story

Chombo heading for a showdown with Bulawayo City Council

Local Government Minister Ignatius Chombo, whose interference into the operations of the Harare City Council has almost crippled the capital, seems to be heading for a showdown with the Bulawayo City Council. Full story

ZAPU says Mugabe could impose next president if opposition boycotts elections

Next year's elections are so crucial that opposition parties should not boycott them because the ruling ZANU-PF, which is desperate to give President Robert Mugabe a noble exit, could impose a new president without having to wait for 2008 if it wins a two-thirds majority, an opposition leader said at the weekend. Full story

Private schools to meet to decide fate

Private schools, which were stung at the beginning of this term by the government's decision to close them unless they revised their school fees, are to meet in a week or two to decide their fate. Full story

Government urged to review interest rates

Though interest rates have tumbled from over 600 percent to about 200 percent this is not good enough for businesses to borrow and operate profitably, the regional manager of the Matebeleland branch of the Zimbabwe National Chamber of Commerce, Cain Mpofu said. Full story

Food saga takes new twist

Zimbabwe's food saga has taken a new twist with one report saying that contrary to claims by the government that the country has enough food, this year's harvest is going to be lower than last year's, while another said cereal availability at national level will be less of a problem compared to last year. Full story

Politics of food in Zimbabwe

It's a battle of wits. Zimbabwe says it now has enough food. It does not need assistance any longer. Donors say this is a lie. The country does not have enough food. President Robert Mugabe, they say, just wants to get rid of donors so that he can use food as a political tool to win next year's general elections. Full story

Economy can turn around if there is national passion and pride to succeed

Zimbabwe will return to a growth path if it adopts right economic policies and a national passion and pride to succeed, one of the country's financial institutions, NMBZ Holdings says in its report for the year ended December. Full story

Century manages an 809% profit increase despite liquidity crunch

Century Holdings, whose bank had to be rescued by the Reserve Bank of Zimbabwe following a liquidity crunch towards the end of last year, managed to make a net profit of $3.2 billion last year an increase of 809 percent over the previous year. Full story

Genesis could be in for another high jump

Genesis Financial Holdings could be in for another high jump this year. The banking group, which was under curatorship for most of 2002,only made a net profit of $691.4 million last year. Full story

Wankie on road to recovery

A loan of US$5.3 million from the Africa Export Import Bank helped resuscitate operations at Wankie Colliery boosting production from 30 percent to 75 percent by December. Full story

Tedco has disastrous Christmas

Retail group Tedco Limited, which changed its financial year-end from September to December,had one of the worst Christmas trading periods in its history, it says in its report for the 15 months ending December. Full story

CFX looking forward to a good year

CFX Merchant Bank, which recently merged with troubled Century Bank, had a good performance last year despite the turmoil in the financial sector. Full story

BAT profit soars

Though volumes declined by 6 percent and exports by 21 percent, British American Tobacco (BAT) Zimbabwe Holdings still saw its turnover increase from $10.1 billion in 2002 to $65.4 billion last year with net profit soaring from $1.9 billion to $15.5 billion. Full story

Caps in impressive turn around

By focussing on profitability rather than turnover, CAPS Holdings managed to turn around from a loss of $115.3 million to a profit of $10.8 billion. Full story

SARE profit soars

The Southern African Reinsurance Company (SARE) had positive results for the year ending December despite negative fundamentals. Its net profit for the year increased from $189.4 million to $3.2 billion. Full story

Sugar production at Hippo Valley down

Sugar production at Anglo-American- owned Hippo Valley dropped by 17 percent from 284 109 tonnes in 2002 to 236 116 tonnes last year but revenue for the company shot up from $19.3 billion to $101.7 billion. Full story

Seed Co sales up nearly 700 %

Seed Co, which already has operations in South Africa, Mozambique, Zambia and Botswana and is looking at Cameroon, Egypt and East Africa, saw its regional sales for the year to February almost equal local sales.Full story

Highveld makes $774 million profit in nine months

Highveld Financial Services, a new entrant into the volatile financial services sector, made a net profit of $774.4 million in its first nine months of operation. Full story

Bindura capitalises on increased demand for nickel

Increased demand for stainless steel products in China, one of the world's fastest expanding economies, helped boost profits for Bindura Nickel Corporation, once owned by the giant Anglo-American Corporation but now under an indigenous consortium which includes Zimbabwean and Congolese businessmen. Full story

Porthold cement sales down by half

Portland Holdings's cement sales dropped by almost half in the six months ending March as the situation in Zimbabwe continued to deteriorate with the economy struggling with both hyperinflation and a shortage of foreign currency. Full story

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