Vice-President Emerson Mnangagwa has defended the government’s producer price of $390 a tonne which is more than double that paid to other farmers in the region saying the country is actually saving on scarce foreign currency.
Zimbabwe’s infrastructure bank has secured funding commitments from three institutional investors for its $12 million student accommodation development in Bulawayo, an official has said.
The Zimbabwe Stock Exchange mainstream index shed 0.74 percent to 364.42 points today on profit-taking in some counters, while the resources index recorded a marginal 0.05 percent gain to 98.74 points.
Zimbabwe’s maize producer price of $390 per tonne is too high and makes agriculture based commodities uncompetitive for export, Agriculture, Mechanisation and Irrigation Development deputy Minister responsible for Livestock Paddy Zhanda said today.
The National Social Security Authority’s (NSSA) $18 million deal to recapitalize Cold Storage Commission (CSC) will go ahead after the High Court approved a scheme of arrangement between the meat processor and its creditors, an official has said. The state run pension fund expressed interest to bail out CSC in an equity investment arrangement earlier this year but the deal was held up by a creditor opposing the scheme of arrangement.