🇿🇼ZimbabweSouthern Africa
Team Europe returns to ZITF with expanded development agenda
via NewsDay Zimbabwe6 min read
Team Europe, led by the European Union, has returned to the Zimbabwe International Trade Fair for the fourth consecutive year, showcasing a broad partnership focused on trade, investment, and sustainable development. The unified pavilion features the EU Delegation and nine Member States, along with European businesses and cultural institutions. EU Ambassador Katrin Hagemann highlighted the strong economic ties, with trade reaching US$919 million last year, nearing the US$1 billion mark. The EU is Zimbabwe’s leading horticultural export market, supported by the Economic Partnership Agreement. To further boost export capacity, the EU is implementing a €7.8 million horticulture support program and has channeled over US$100 million in financing to local banks. The pavilion also features exhibitors in various sectors, EU-funded programs in climate-smart agriculture and renewable energy, and interactive platforms for entrepreneurs. The EU's development efforts extend to youth empowerment, education, and arts and culture, with initiatives like Erasmus+ and support for creative industries. Through its Global Gateway strategy, the EU is backing infrastructure and green transitions, including the Kariba Dam rehabilitation. This year's participation emphasizes the coherent Team Europe approach, aligning institutions and financial bodies to achieve measurable impact and support Zimbabwe's goal of attaining upper-middle-income status by 2030.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
The Sables have announced a 31-man squad for their upcoming SAS training camp as they prepare for a showdown against SA A. This development comes amidst various other news items from Zimbabwe, including discussions on increased US investment, the potential for hybrids over electric vehicles, and calls for stronger safety measures on the Kamandama disaster anniversary. Other reports highlight foreign military attachés touring ARDA projects, National Foods investing US$25 million in local milling, and Mpilo beginning the installation of a new cancer treatment machine. The Zimbabwe Stock Exchange's market capitalization stood at approximately US$3.26 billion, while VFEX reached US$3.54 billion, with expectations for more ZSE delistings to sustain VFEX momentum in FY26. Concerns were also raised about political tensions at grasslands plots leading to violent attacks and forced evictions, power outages and raw material shortages affecting ART operations, and the urgency of high-integrity carbon markets and local credit ratings for climate finance.
The Zimbabwe Stock Exchange's market capitalization was approximately US$3.26 billion as of last Friday, while the Victoria Falls Exchange VFEX stood at US$3.54 billion. This comes as National Foods has invested US$25 million in local milling, and Mpilo has begun installing a new cancer treatment machine. Foreign military attachés recently toured ARDA projects, commending Zimbabwe's agricultural efforts. However, ART operations have been affected by power outages and raw material shortages, leading to a 6% decline in export volumes and a 26% decline in paper division volumes during the third quarter to June 2022. There are also calls for urgent action on ecosystem restoration and climate resilience, with an emphasis on high-integrity carbon markets and local credit ratings for climate finance.
As of last Friday, the Zimbabwe Stock Exchange's market capitalization was approximately US$3.26 billion, while the Victoria Falls Stock Exchange VFEX recorded a market capitalization of US$3.54 billion. This comparison highlights the current financial standing of both exchanges.