馃嚳馃嚰ZimbabweSouthern Africa
Unifreight secures US$2.08 million deal to acquire local FedEx Express partner
via NewsDay Zimbabwe1 min read
Unifreight has entered into a US$2.08 million agreement to acquire the local FedEx Express partner. This business development is part of a series of economic news items, including a 62% surge in tobacco exports due to strong global demand, and Edgars' financial year performance indicating recovery and a strategic pivot. Edgars' retail operations are increasingly complemented by financial services, which are now a significant profit driver. Conversely, ART operations have been impacted by power outages and raw material shortages, leading to a 6% decline in exports and a 26% decline in paper division volumes in the third quarter to June 2022. The VFEX stability is noted to mask underlying value, while 97% of exhibition space has been taken up at ZITF.
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
Zimbabwe is preparing for its Nations Cup finale match against Canada. Other news includes Harare municipal police seeking more authority, a security guard stealing US$160,000, a rise in teenage sex trade in Mutare, and Starlink kits gathering dust at rural hospitals due to subscription delays. ZMX reports rising confidence with trades reaching US$1.28 million, while families on the streets are highlighted as a national issue. Stanbic Bank-backed Carnival Cup is set to begin, and the Shingirirayi Youth Ministry is organizing an under-13 football tournament in Mbare. Political tensions over grasslands plots have led to violence and forced evictions. ART operations are affected by power outages and raw material shortages, with export and paper division volumes declining by 6% and 26% respectively in the third quarter to June 2022. Zanu PF is anticipated to ambush Zimbabwe towards a referendum, and a kidnapping trial was postponed due to a lawyer's absence. A specialized honey testing laboratory has been commissioned in Zimbabwe to enhance export competitiveness.
Must ReadZimbabwean exporters can now obtain the necessary certificates of origin to export eligible products to China under a preferential trade arrangement for African countries. ZimTrade announced that all administrative and procedural requirements have been completed, opening significant opportunities for Zimbabwean businesses to increase exports to one of the world's largest consumer markets. Exports shipped to China on or after May 1 are eligible for retrospectively issued Certificates of Origin. This development is expected to boost exports by improving the price competitiveness of Zimbabwean products, particularly agricultural produce, horticultural products, manufactured goods, and value-added products. China extended zero-tariff treatment to all 53 African countries with which it has diplomatic relations since May 1. Zimbabwe has already begun to tap into this expanded market, making its first-ever shipment of blueberries to China earlier this month and securing bilateral agreements for citrus and avocado exports.
Zimbabwe has commissioned a specialized honey testing laboratory, a move aimed at enhancing the country's export competitiveness. This development is expected to support the quality assurance of Zimbabwean honey products for international markets. Other news includes former legislator Dubeko challenging President Mnangagwa's term extension in the Constitutional Court, and reports of power outages and raw material shortages impacting ART operations, leading to a decline in export and paper division volumes by 6% and 26% respectively in the third quarter to June 2022. Additionally, Zimbabwean athletes have shown impressive performance against global competitors in Budapest, while political tensions at grasslands plots have resulted in violent attacks and forced evictions.