The Cotton Company of Zimbabwe made a net profit of $13.5 billion during the year ended March, and it is looking forward to an even better year.
Textile giant, David Whitehead had a net profit that was more than one-and-a-half-times that for the entire year ending September during the first half of this year.
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 it made a profit of $739 million in the six months to March, gold producer Falcon Gold Zimbabwe (Falgold) says it might cease operations before the end of its financial year.
Zimbabwe is likely to have another poor agricultural season because a number of factors that affect the agricultural industry have not been addressed.
Indigenous-owned Zimbabwe Tobacco Auction Centre (ZITAC) is gaining market share in the lucrative tobacco business and this is being attributed to the larger crop from smallholder farmers expected this year.