The ZNCC Women’s desk supported by the  Chamber Trade Sweden will be kick-starting the Mentorship in Practise Class of 2015 on Friday  May29. This comes after the first group which enrolled last year will be graduating at the end of this year.

The graduation will take place at a dinner being hosted by ZNCC and Chamber Trade Sweden.

The Class of 2015 is expected to have a group  20 Mentees  and will run for the next 12 Months.

The MiP initiative was created through the Women in Enterprise Conference and Awards (WECA) platform which realised the necessity of having established business women and female corporate leaders to have dialogue with those who want to achieve.

It is from this background that the ZNCC Women’s Desk started a formal structured and highly regarded mentorship program in 2014.

The main objectives of this initiative are to;

–                    Build the female Business Brand for entrepreneurs, executives and investors. Our goal is to advise, inspire and connect a global & local community of ambitious entrepreneurial women specifically on their business needs. The program is all about “killer advice and killer contacts!”

–                    Build business and professional leaders who want to make a mark on history

–                    Strengthen and sustain dialogue between young, aspiring future leaders and people like you who have seen it all.

The mentors for  this  MiP program are basically  women who have achieved success in business, admired, viewed as role model, have knowledge to pass on, contribute to the cause of women economic empowerment and believe women should help each other for sustainable economic development of Zimbabwe.

Professor Hope Sadza, Sandy Robertson, Elizabeth Magaya and Angela Mashanyare are some the mentors for this program.

TNF to implement the principle of the Kadoma Declaration

On the 18th of May the Tripartite Negotiating Forum (TNF)   where Government was represented by the Chairperson, Hon P Mupfumira (Sen) and Cabinet Ministers, the Employers’ Confederation of Zimbabwe (EMCOZ), led by its President Mr Jack Murehwa and its five principals and Labour represented by the President of Zimbabwe Congress of Trade Unions ( ZCTU) Mr George Nkiwane and the President of the Zimbabwe Federation of Trade Unions ( ZFTU) Mr Alfred Makwarimba.


Despite having last met in September 2010, on the TNF’s agreed positions was on-going over the years.


In the meeting the TNF reconvened with renewed energy and a willingness to redouble efforts to deliver on its mandate, that of dealing with socio-economic issues affecting the country.


Among the key issues that they discussed was the progress in efforts to legislate the TNF. The TNF has also discussed the need for us to collectively work to build confidence in our nation, as well as competitiveness in our economy. The TNF has dealt with issues affect our economy in general, an Zimbabwean companies in particular. Of concern to the TNF is the current state of the economy characterised by lack of confindence. It is reality that our economy cannot grow without money but we need to come together to see how best we can utilise what we have by mobilising one another to work for the common  good.


Going forward the TNF has resolved to fully implement the principle of the Kadoma Declaration, aimed at creating an enabling economic environment and help address the country risk factors, while fostering  a shared national economic and social vision has also resolved that to address the issues of productivity through establishment of the Zimbabwe National Productivity Institute (ZNPI) which will in the meantime be working through exploiting synergies with existing bodies like the National Economic Commission and the National Economic Forum NECF) among others


In a show of goodwill, Government creates committee with IMF, World Bank, AfDB

HARARE – As part of efforts to come up with options on how the country’s arrears with Multilateral Institutions will be cleared, a Quadripartite Committee which comprises of the Reserve Bank of Zimbabwe, the International Monetary Fund, African Development Bank and the World Bank.

Finance minister Patrick Chinamasa told journalists last evening that the committee which will be chaired by the RBZ governor Dr John Mangudya and comprising of some Government officials was set up as part of Zimbabwe’s re-engagements efforts and to firm up on the roadmap aimed at resolving the country’s debt overhang.

Zimbabwe owes $1.4 bln to the World Bank, $639 mln to the AfDB and $120 mln to the IMF while the total external debt was $7.1 bln at the end of 2014.  The Government has however been making token payments on a monthly basis to the institutions.

The country is also undergoing the Successor Staff Monitored Programme with the IMF as part of the strategy to resolve the debt issue. “This strategy is a vehicle for establishing a track record of sound economic management in the country so as to unlock new financing for our development requirements,” said Chinamasa.

He added: “Pursuant to deliberations at the IMF/World Bank spring meetings, it was agreed that a committee be constituted to deliberate on the options that we have to clear the debt. Such a committee was inaugurated on May 4, 2015.”

Chinamasa said that the committee will provide its feedback report in October during the IMF/World Bank annual meetings in Lima, Peru.

Executive directors of the World Bank Group Africa; Dr Louis Peter Larose and Mahomed Rafique are in the country to have a first-hand appreciation of the challenges the country is facing on the infrastructure front as well as the adverse impact the lack of access to capital is having on capacity utilisation of private sector companies.

The directors, who will be in the country from 19-22 May will tour companies in Bulawayo and the Midlands province such as Appollo Tyres (Dunlop), Archer Clothing, Bata and Zim Glass. They will also visit the National Railways of Zimbabwe, the Cold Storage Commission as well as tour Mpilo Hospital and Bulawayo Water Works.

Dr Larose in a briefing to the press noted the efforts by Government to reform the civil service and strong commitment to implement economic reforms and to accelerate growth. He said efforts to reform Parastatals should be pursued.

“The current lack of new financial flows to jumpstart economic growth is also well noted. It is therefore imperative that efforts towards debt relief and the clearance of arrears especially to the Bretton Woods Institution and the AfDB be pursued vigorously and be treated with urgency.”

Rafique, who is also an executive director at AfDB said Zimbabwe needs to clean up its past in order to get new money. He also said the country needed to implement policies which are workable.

“We are pleased to be here and to be part of the process. For it to be successful the country needs to link what it says to what it does. It needs a strong private sector able to pay taxes and a strong government which is able to implement policies,” said Rafique.


Zim among top 5 Chinese investment destinations in Africa but needs to improve on policies

HARARE – Government should continue optimizing incentives so as to attract more investments from China, Chairman of the Chinese Council for Promoting South-South Corporation, LU Xinhua has said.

Speaking to journalists today, Xinhua said Zimbabwe is among the top five investment destinations in Africa for Chinese investors after Ethiopia, Kenya, South Africa and Nigeria.

“The Zimbabwe government should continue optimizing incentives so as to attract more investments from China. Several Chinese companies face various challenges; government should think from the perspective of the investor and offer the necessary help. China has listed Zimbabwe as one of the major destinations of investment in Africa. I am sure our corporation will have a bright future here,” he said.

The chairman said Zimbabwe needs to implement more open policies and make it attractive for investors to make profits in the country. He urged the government to provide a more conducive environment for investment.

Xinhua said Chinese investors prefer a country that has abundant resources, close relations with China and is stable when making their investment decisions.

Economic Planning and Investment Promotion minister, Simon Khaya Moyo said government will present the Special Economic Zones Bill in parliament within the coming week. He said government is also working on making sure that the Zimbabwe Investment Authority is fully operational in the near future.

“Government is working on presenting Bill in parliament on Special Economic Zones which will also come with a number of incentives. Our people are working on it now and in a week or two, we should be somewhere; it is quite urgent for the ministry. We are hopeful that the process will not take long in parliament,” he said.

He said government had delayed implementing investment reforms due to disharmony that characterized the government of national unity.

ZIA Chairman Nigel Chanakira said China has been the top investor in Zimbabwe for the past four to five years. He said Vice President Emmerson Mnangagwa will lead a delegation to China from the 14th to 16th June and urged the private sector to take advantage of the good relations between Zimbabwe and China.

“The market is concerned with the trade imbalance. In 2013 we had $600 mln Foreign Direct Investment from China with trade flows of $1.2 bln between the two countries. The outflows are low value, bulky goods and we are importing high value commodities. We hope to attract the electronic sector from China,” he said.

Chinese Ambassador to Zimbabwe, Lin Lin called on government to put in place policies that make the country competitive in the region. He added that government should also improve access to water, electricity and road infrastructure as this contributes to attracting investment in the country.

Industry and Commerce minister, Mike Bimha highlighted some of the opportunities that Chinese investors could take up. He said Fertilizer manufacturer, Chemplex had expressed an interest for a strategic partner that will dilute government’s shareholding in the company to a minority. He said an injection of $60mln could see the company’s revenues improve to over $100 mln annually.

He said the pharmaceutical sector is in need of an $80 mln facility with a ten year tenure and interest rates of 5% so as to improve productivity.

On Special Economic Zones, he said government is considering replicating Sunway City industrial project in all major towns and cities.


Meet the ZNCC Harare 2015 Winners




2ND RUNNER UP:          Chloride Zimbabwe ( Pvt) Ltd

1st RUNNER UP:           Unilever Zimbabwe ( Pvt) Ltd

WINNER:                     Zimbabwe Electricity Transmission & Distribution Company (ZETDC)



Best Corporate Social Responsibility-Cancer Awareness

2nd Runner Up             TELONE

1st Runner Up-             DELTA

Winner-                       ECONET





  1. Most Improved Exporter of the Year :Winner:          South Mining Limited
  2. Best Exporter of Year

2nd Runner Up:                        MIMOSA (MMCZ)

1St Runner Up:                         Zimbabwe Platinum Mines ( Pvt) Ltd

Overall Winner:                      Fidelity Printers & Refiners P/L



  1. Most Improved Exporter of the Year             Winner:Flair International
  2. Best Exporter of the Year

2ND Runner up:                        BICC ( Central Africa) Pvt Ltd T/A



1st Runner up:                          Glendale Spinners

Overall Winner :                     Hunyani Paper & Packaging



  1. Most Improved Exporter of the Year             Winner: Curverid Tobacco
  2. Best Exporter of the Year

2nd Runner Up:            Mashonaland Tobacco Co (Pvt) Ltd

1st Runner Up:                         Northern Tobacco Private Limited

Overall Winner:                      Zimbabwe Leaf Tobacco (Pvt) Limited



Best Exporter of the Year: 1st Runner Up:      China Africa Cotton Zimbabwe

Overall Winner:                                              The Cotton Company of Zimbabwe



  1. Most Improved Exporter of the Year -Winner:Safari Air Services Pvt Ltd T/A Chifuti
  2. Best Exporter of the Year                   -Chipitani Safari Co Agent-Safa



  1. Most Improved Exporter of the Year Winner:Kamina-Kawena T/A Afruita
  2. Best Exporter of the Year

1st Runner Up:                                    Rollex (Pvt) Ltd

Overall Winner:                                 Zimbabwe Flower Exports



Best Parastatal of the Year

1st Runner up-             TELONE

Winner-                       ZINARA



Best ICT Company of the Year

2nd Runner Up-            TELONE

1st Runner Up-             Afrosoft Corporation

Winner-                       Univern Enterprises (Pvt) Ltd T/A Southern Region Trading Co



Best Bank Supporting SMES

2nd Runner Up-            MBCA Bank

1st Runner –                 BANC ABC

Winner-                       NMB Bank



Most Innovative SME Person of the Year

2nd Runner Up-            Mr.Philip Zengeya-Moushtec Steel

1st Runner Up-             Mr.Evans Kurangwa- Advantage Holdings

Winner-                       Mr.Tommy Deuschle-C-Media Zimbabwe



Entrepreneur of the Year Category

2nd Runner Up-            Mr.Jimitias Musiiwa-Badore Engineering

1st Runner Up-             Mr.Mugove Chideme-Medirite Distribution

Winner-                       Ms Caroline Chirima-Baztech Incorporated



Rural Business Person of the Year

1st Runner Up-             Mr.Muunganirwa- Muunganirwa Investment

Winner-                       Mr.Alick Jasi-Firstneed Enterprises


Businesswoman of the Year

1st Runner Up-             Mrs. Theresa Tapfuma-Waterfall Cove Events

Winner-                       Mrs. Chipo Mtasa -TELONE


Businessman of the Year Category

2nd Runner Up-            Mr. Lovemore Gomera-Alexander Forbers

1ST Runner Up-            Mr. Serge Levy –Southern Region Trading Co

Winner-                       Mr. Mike Kamungeremu- Tendo Electronics

Domestic credit rises 4.57% to $4.37 bln in March

HARARE – The value of transactions processed through the RTGS system in March increased 18% to $3.8 bln from $3.2 bln in February while the volume of transactions grew 11% in the same period, the Reserve Bank of Zimbabwe report for March shows.

Mobile and internet based transactions also increased to $476.38 mln in March from $439.24 mln in February. The total value of card based transactions was $430.27 mln in March up from $417.59 mln.  The value of cheque transactions stood at $11.11 mln down from $13.69 mln in February.

Overall, broad money supply was $4.37 bln in March 2015 up from $4.33 bln. The annual growth of broad money, however, decelerated to 6.75% from 7.86% in February.

Contributing to the annual growth in broad money were increases in long term deposits, of 29.29%; savings deposits, 9.97%; and demand deposits, 2.19%. Short term deposits, however, registered a decline of 2.58% over the same period.

“The structure of deposits remained largely the same with demand deposits accounting for 48.51%; long term, 20.32%; short term, 18.53%; and savings deposits, 12.61%.”

The annual growth in bank credit to the domestic economy recorded an increase of 4.57%, to $4.37 bln in March from $4.18 bln.

Growth in credit to the private sector registered an annual increase to 4.20% in March from 0.11% in February. On a month-on-month basis, credit to the private sector grew to $3.76 billion from $3.63 bln. Government credit was around $600 million.

During the month under review, loans and advances constituted 81.86% of the total credit to the private sector, followed by mortgage advanced by building societies, 13.50%; other investments, 2.35%; bills discounted, 1.38%; and bankers’ acceptances, 0.84%.

Credit was mainly channelled to services (21.66%); agriculture (18.22%); manufacturing (15.77%); distribution (14.87%); mining (6.75%); transport and communications (3.08%); and construction (1.39%).

Consumptive borrowing by households accounted for 18.26% of total credit to the private sector. Credit to the private sector was mainly utilized for asset purchases, 47.65%; inventory build – up, 32.57%; consumer durables, 11.38% and vehicles, 2.90%.

Loans and advances utilized for capital investment remained low, with the procurement of plant and equipment accounting for 3.59%, land development, 1.06%; and office equipment, 0.07% of total loans and advances.

April annual inflation down to -2.65%

HARARE – Annual inflation for April shed 1.45 percentage points to -2.65 percent from the March rate of -1.20 percent. This means that prices decreased by an average -2.65% between April 2014 and April 2015 as price correction creeps into the system.

The main prices to go down during the period include airtime, bread and beer. The decline was largely on the back of decreases in communication, furniture and equipment, transport, recreation and culture, restaurants and hotels, among others.

Partially offsetting the decrease in annual non-food inflation were increases alcoholic beverages and
tobacco, rentals for housing, as well as education.

The rationalization of voice call prices by operators in response to POTRAZ’s call for realignment of
tariffs with regional levels partly contributed to the decline in communication prices.

Against the background of constrained consumer spending, items such as furniture and equipment,
recreation and cultural services, are relegated to periphery of consumer needs. As a result, prices fell
in response to a decline in effective demand.

Also affecting the negative inflation is the continued weakness in the rand rate to the US$. US Dollar to South African Rand Exchange Rate which is at a current level of 12.06 up from 10.48 one year ago. This is a change of 1.08% from the previous market day and 15.10% from one year ago.

The year on year Food and Non Alcoholic beverages stood at -2.93% while the Non-food inflation rate was-2.51%.

The month on month inflation rate in April 2015 was -0.89% shedding 0.86 percentage points on the March 2015 rate of -0.03%.

The month on month Food and Non Alcoholic Beverages inflation rate stood at-0.63 percent in April 2015,  weakening -0.59 percentage points on the March 2015 rate of -0.03%.

Non-food inflation rate stood at-1.01% month on month, down -0.99 percentage points on the

March 2015 rate of -0.03%.

Only 15% of land reform farmers have 99-year leases: ZNFU

HARARE – The Zimbabwe National Farmers Union (ZFNU) says less than 15 percent of farmers in the country have to date been issued with the non-bankable 99 year leases.

Over two million people benefited under the land reform programme but the new farmers have faced productivity challenges, chief among them, financing.

ZNFU executive director Edward Dune told a parly committee that accessibility of the 99 year leases remains stringent

“The rate to access the 99 year leases is slow, largely due to certain conditions that have to be met. This has resulted in less than 15 percent of farmers having accessed the leases,” he said.

Dune said government should finalise the issue of tenure to capacitate farmers to borrow through the leases.

Bankers have over the years maintained that they will not lend to farmers on the basis that the 99-year leases that have no title but instead prefer that Government creates a Special Purpose Vehicle to collect levies from beneficiaries of the land reform which can be used to guarantee the loans.

Dune said ZNFU is currently engaging various financiers to grow maize under the contract system due to the unavailability of long term funding.

He said maize production reached 1. 4 mln tonnes in the 2013 to 2014 season while this year production is expected to record a deficit of about 500 000 tonnes.

Dune added that the union is also encouraging farmers to embrace the national conservation programme which is aimed at improving the maize yield from the current 0.6 tonnes per hectare to about 3,6 tonnes per hectare.

TIMB records a decrease in tobacco deliveries

(Newsday) The Tobacco Industry and Marketing Board (TIMB) recorded a decrease in tobacco deliveries in the first 45 days of the tobacco selling season for this year compared to 2014. Figures provided by TIMB show that as of Friday, delivered tobacco represented a decline of 3,99% with 92,2 million kg valued at $267,7 million, down 13% from 96,1 million kgs valued at $ 308,7 million over the same period last year. Tobacco was sold for an average price of $2,90 per kg down from $3,21 over the same period last year. The total auction sales stood at 28,7 million kgs valued at $71,2 million while contract sales were 63,6 million kgs at $196,4 million.

Increase Zim’s exports to Mauritius

HARARE May 13 (Herald) Zimbabwean firms should boost business linkages with Mauritian firms to increase their exports to that country. Increasing Zimbabwe’s exports to Mauritius will also help in shrinking the trade deficit as trade statistics between the two countries show that Mauritius’ exports to Zimbabwe have been increasing steadily over the last five years, almost doubling between 2013 and 2014.

Figures provided by Mauritius Statstics show that the annual total of Mauritius’ exports to Zimbabwe in 2010 stood at 35 533 167 Mauritian Rupee ($1 million), rising to MUR41 445 641 ($1,18 million) in 2011, and further to MUR43 911 028 ($1,25 million) in 2012. In 2013 that figure jumped to MUR58 759 348 ($1,67 million), rising 43 percent to MUR84 048 605 ($2,39 million) last year. The statistics also show that Mauritius’s export growth to Zimbabwe, particularly last year, was driven by increased exports of products including animal feed, Kidswear, Polo-shirts and processed foods.

According to the Zimbabwe National Statistical Agency (ZimStats), Zimbabwe’s main export destinations include South Africa, Mozambique, the United Arab Emirates, Zambia, Belgium, France, Botswana, China, the United Kingdom, and Namibia.
Meanwhile a 22 member business delegation will be in Zimbabwe for a two day Buyers and Sellers Expo to be staged at the Rainbow Towers on 18-19 May next week

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