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.
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.
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.
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.
Apex Corporation, one of the top five performers on the Zimbabwe Stock Exchange, whose share price soared $2.35 to $50 a share last year, had an excellent performance during the year ending October with its sales more than doubling from $2.15 billion to $4.33 billion and net profit increasing more than ten fold from $56.9 million to $633.4 million.