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![Work kicking off at Bulawayo’s Fairgrounds, a new shopping complex being developed by Terrace Africa for the Tigere Property Fund. It’s due to be completed in 2027. Tigere is a ZSE-listed real estate investment trust (REIT) that currently holds Highland Park, Chinamano Corner, Greenfields and Zimre Park Drive-Thru. Four more properties are being added to the Tigere portfolio this year, including Cardinals Corner and the Design Quarter at the Highland Park Precinct. Tigere is targeting rapid growth in net asset value (NAV), the total value of a property portfolio after taking out liabilities. Tigere wants to grow NAV from US$60 million last year to US$100 million this year, and US$200 million by end of 2028. [🎥 Mandebvu Contracting]](https://image.24vids.com/tw-2064257453571572082/amplify_video_thumb/2064257375620444160/img/MhtaD-DcE2YMG3be.jpg)
Work kicking off at Bulawayo’s Fairgrounds, a new shopping complex being developed by Terrace Africa for the Tigere Property Fund. It’s due to be completed in 2027. Tigere is a ZSE-listed real estate investment trust (REIT) that currently holds Highland Park, Chinamano Corner, Greenfields and Zimre Park Drive-Thru. Four more properties are being added to the Tigere portfolio this year, including Cardinals Corner and the Design Quarter at the Highland Park Precinct. Tigere is targeting rapid growth in net asset value (NAV), the total value of a property portfolio after taking out liabilities. Tigere wants to grow NAV from US$60 million last year to US$100 million this year, and US$200 million by end of 2028. [🎥 Mandebvu Contracting]
newZWire50,257 Aufrufe • vor 11 Tagen
“In cement, you can’t just think for the next 2-3 years, you need to think for the next 20 years…” 🎥 PPC Africa CEO Matias Cardarelli speaks today on why the company wants to build a new plant in Zimbabwe. Zimbabwe is an increasingly important market for PPC, with rising cement demand helping offset slower growth in SA and Botswana. In the year to March, PPC Zimbabwe’s sales volumes rose 18%. Volumes were up 25% in the first half. Growth was 12% in the second half, after a gearbox breakdown at the Bulawayo plant slowed sales in the region for two months. Revenue rose 20.5% to US$206 million, and earnings hit a record US$56 million. PPC received US$36 million in dividends from Zimbabwe, up from US$13 million in the previous year, “another record for PPC Zimbabwe.”
newZWire39,096 Aufrufe • vor 12 Tagen
In a canteen back in the 1980s, three employees at drug giant Pfizer decided to break away to start what became Zimbabwe’s first privately held black pharmaceutical firm. Tobias Dzangare, Celestine Gadzikwa and Glory Zata founded Varichem in 1985. Its first product, Prazosin, launched in 1988. But they faced resistance. “Most wholesalers and pharmacists were not interested in our product because of prejudice from our former employer.” Today, Varichem Pharmaceuticals is one of Zimbabwe’s biggest manufacturers and exporters of medicines.
newZWire53,483 Aufrufe • vor 27 Tagen
“As a corporate, why would you want to withdraw US$5,000 in cash…” Finance Minister Mthuli Ncube and Treasury Permanent Secretary George Guvamatanga defend their new levy on cash withdrawals, despite criticism that it raises costs and undermines efforts to formalise the economy
newZWire275,802 Aufrufe • vor 6 Monaten
Skills crisis: Zimbabwe has only one forensic pathologist, and has had to bring in three from Cuba. Health Minister Douglas Mombeshora said this in response to MP Lynette Karenyi-Kore, who asked why such services are only offered in Harare. Mombeshora says govt plans to train more forensic pathologists, which takes 4 years, and pay specialists better.
newZWire249,764 Aufrufe • vor 8 Monaten
📍 Parliament: “Lengthening the runway doesn’t give the airline an extra contract…” In his reading of the Constitutional Amendment Bill 3, Justice Minister Ziyambi turns to aviation metaphors to defend a proposal to extend the President’s term without a referendum #CAB3
newZWire18,175 Aufrufe • vor 17 Tagen
“No retailer is too big to fail.” Pick n Pay SA CEO Sean Summers, who has the task to turnaround the troubled retail group, warns that even major retailers can fail. He points to once dominant retailers like Stuttafords and Edgars in South Africa as proof that size offers no protection. Another example? OK Zimbabwe. “OK was a 10-tonne gorilla” when Pick n Pay entered Zimbabwe in 2010, Summers says. Now, OK is “going to be gone”. Pick n Pay owns 49% of TM Pick n Pay. Since 2024, it has stopped including the Zimbabwe business in its group results. Had TM Pick n Pay been included in the year to March 2026, Pick n Pay’s share of the losses would have been the equivalent of about US$2.3 million, a narrower loss from the US$3.1 million loss the previous year. 📍 TM Pick n Pay has 73 stores in Zimbabwe, where formal retail is under pressure from informal trade, high regulation and currency distortions. 📍 Separately, in SA, Pick n Pay closed 56 shops over the past year as part of its restructuring.
newZWire20,868 Aufrufe • vor 21 Tagen
Cabinet: Finance Minister Hon Prof Mthuli Ncube says Treasury earned US$2.55 billion and spent US$2.25 billion in the first quarter of 2026, helped by work to stop smuggling. "We also have smuggling of exports, especially around minerals; that too requires a very serious consented efforts to slow this down."
newZWire23,176 Aufrufe • vor 1 Monat
While Zimbabwe’s official GDP data puts it ahead of regional peers on size, its banking sector tells a different story: the key sector is far smaller than that of its neighbours. At the CZI’ post-budget seminar today, BancABC’s James Wadi says this shows that much of the economy is informal, and businesses have limited access to the loans that they need to grow: 🇿🇲 Zambia: US$8.2bn in deposits, US$4.1bn in loans 🇲🇿 Mozambique: US$11.7bn in deposits, US$4.5bn in loans 🇿🇼 By deposits, Mozambique’s banking sector is three times bigger than Zimbabwe’s • Zimbabwe’s top three banks hold just US$2bn in deposits, while Mozambique’s top 3 hold have four times more
newZWire105,018 Aufrufe • vor 6 Monaten
At the World Governments Summit in Dubai, President President of Zimbabwe answers questions from Tucker Carlson on the US-China rivalry, Zimbabwe’s land reform, and recent events in Venezuela. He was on a panel with Presidents Julius Maada Bio of Sierra Leone and Botswana’s Duma Boko.
newZWire77,407 Aufrufe • vor 4 Monaten
Apart from Varun and Innscor, Delta will soon have more competition in the drinks business - this time from East Africa. Delta currently holds a strong market share in both soft drinks and beer. Sales for both beverages are at record highs, attracting new players.
newZWire13,411 Aufrufe • vor 17 Tagen
“We don’t have a problem of entrepreneurship in Africa. Our kids leave school knowing if you don’t start something, you’re not going to be employed….” At the #WEF2025, Econet Group founder Strive Masiyiwa calls for better funding ecosystems for emerging African entrepreneurs. “You do not fund startups with debt. You provide equity capital, venture capital…”
newZWire216,892 Aufrufe • vor 1 Jahr
![“If I was your board, I’d fire you..” Last week, OK Zim said the skewed exchange rate gives informal traders an edge while killing supermarkets. Today, at a meeting with business, Treasury Secretary George Guvamatanga reacts: Supermarkets should innovate [🎥 Herald]](https://image.24vids.com/tw-1708518154752741638/amplify_video_thumb/1708517922618925056/img/pmy_xOjQ-Lyfcfef.jpg)
“If I was your board, I’d fire you..” Last week, OK Zim said the skewed exchange rate gives informal traders an edge while killing supermarkets. Today, at a meeting with business, Treasury Secretary George Guvamatanga reacts: Supermarkets should innovate [🎥 Herald]
newZWire376,238 Aufrufe • vor 2 Jahren
“2030 wasn’t even our date. It’s their lawyers who wrote that statutory instrument…” Treasury Secretary George Guvamatanga claims it was the private sector that pushed government to set 2030 as the deadline to end the multicurrency system and move to a sole local currency. Uncertainty around the timeline has slowed bank lending and investment. Guvamatanga says the deadline (under SI218/2023) may now be ‘reviewed’
newZWire88,357 Aufrufe • vor 6 Monaten
🚨 Cabinet has today approved a draft law that would significantly rewrite the Constitution, allowing President Mnangagwa to stay in office beyond 2028 and changing how elections are run. Next, the draft Constitutional Amendment No. 3 Bill will be gazetted by the Speaker of Parliament. It will then be tabled in Parliament after 90 days of public debate. If passed, it would amount to one of the biggest constitutional changes in years. Here are the key changes: 🔴 How the President would be chosen The Bill removes the current system of directly electing the President by popular vote. Instead, the President would be elected by Parliament. To win, a candidate must secure a majority of parliamentary votes. 🔴 Longer terms for the President and MPs The Bill increases the term of office for both the President and Members of Parliament from five years to seven years. 🔴 Changes to the Attorney-General’s office Under the Bill, anyone appointed as Attorney-General would need to meet the qualifications required of a Supreme Court judge. 🔴 A bigger Senate The Bill allows the President to appoint ten more senators, increasing the total number from 80 to 90. 🔴 Control of elections Responsibility for voter registration and the voters’ roll would move from ZEC to the Registrar-General. A new Zimbabwe Electoral Delimitation Commission would be set up to take over the task of drawing constituency and ward boundaries from ZEC. 🔴 Judicial appointments The Bill removes the public interview process for judicial appointments. This represents a shift away from the current system of open scrutiny in the selection of judges. 🔴 Role of the Defence Forces The Constitution would be amended to change how the role of the Defence Forces is described. Instead of stating that the military must “uphold” the Constitution, it would say they must act “in accordance with” the Constitution. 🔴 Abolition of the Gender Commission The Bill abolishes the Zimbabwe Gender Commission and transfers its functions to the Zimbabwe Human Rights Commission.
newZWire60,429 Aufrufe • vor 4 Monaten
Cabinet today: Government agrees a deal with construction company Bitumen World to rebuild the Beitbridge-Vic Falls highway. It’s to be done under a build, operate and transfer model. This means Bitumen must raise the substantial funding needed for the 760km road, build it, operate it for a profit over an agreed period, before handing it to the public.
newZWire225,421 Aufrufe • vor 1 Jahr