Mutare Bottling Company (MBC) says its revenue declined by 20 percent while sales volumes slumped by 17 percent in the period between 2014 and 2016, as cheap imports from Mozambique flooded the eastern region, its catchment area.
Struggling miner, Falcon Gold says its net loss for the six months to March has grown $2.42 million, from $351 186 recorded in the comparable period last year after a fall in revenue and higher operating costs.
Zimbabwe’s trade deficit stood at $1.01 billion in the first five months of the year, a slight improvement from $1.12 billion last year, according to the latest data from the Zimbabwe National Statistics Agency (Zimstat).
War veterans leader Christopher Mutsvangwa has defied all odds by retaining his post despite being fired from both the government and the ruling party, clearly demonstrating that there are more powerful forces behind him.
Six private investors, including SMH Rail Malaysia and South Africa’s Transnet today submitted bid documents for a $400 million tender to recapitalize Zimbabwe’s struggling rail company.
The Zimbabwe industrial index advanced 35.6 percent in the six months to June, as investors sought to escape poor returns on the money market and the possible impact of the country’s bond note surrogate currency. All heavyweight counters recorded gains in the period as the index closed the month on 195.97 points while the resources index rose 19.28 percent to 69.79 points, On a year-on-year basis, the industrial index and the mining index gained 94 percent and 182.55 percent respectively.