The Grain Marketing Board (GMB) posted a loss of $208.9 million in the 2016/17 season after government ordered it to buy maize from farmers at $390 and resell at $240 per tonne.
The European Union has refused to lift sanctions on former president Robert Mugabe but it is prepared to bail out President Emmerson Mnangagwa’s administration.
The Zimbabwe government has ordered fuel dealers to reduce prices immediately by between 7 and 14 percent, less than 24 hours after cutting excise duty on fuel imports in a move aimed at lowering production costs.
Zimbabwe’s President Emmerson Mnangagwa has given senior public officials up till the end of February to disclose their business interests and declare their assets in a push for transparency in public service.
President Emmerson Mnangagwa says he is free to make a proclamation for general elections from 12 February but parliamentary watchdog Veritas Zimbabwe says the earliest Mnangagwa can make the proclamation is 30 April.
Agriculture is taking centre stage in plans for the revival of Zimbabwe’s ailing economy under the new leadership of Emmerson Mnangagwa.