馃嚳馃嚰ZimbabweSouthern Africa
Zimbabwe records surge in value-added exports, narrows trade deficit
via NewsDay Zimbabwe1 min read
Zimbabwe has experienced a surge in value-added exports, contributing to a narrowing of its trade deficit. This positive economic indicator comes amidst various other developments, including a new cement plant creating 450 jobs, and Zimbabwean firms exploring Zambian markets through a trade mission. The country is also setting in motion plans for a US$25 million climate recovery boost. However, challenges persist, with ART operations being affected by power outages and raw material shortages, leading to a decline in export and paper division volumes by 6% and 26% respectively in the third quarter to June 2022. Political tensions have also been reported, leading to violent attacks and forced evictions in some areas. In other news, Rukweza has been appointed as the chair of the Lithium Association of Zimbabwe, highlighting the country's focus on its lithium industry.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
Must ReadThe Zimbabwe Property Excellence Awards recently focused on government infrastructure projects and sports facilities. Other news from Zimbabwe includes China's commitment to supporting Vision 2030, Zimbabwe's expansion of development finance options with BRICS New Development Bank membership, and ARDA delivering 120,000MT as the country prepares for El Ni帽o. There are also proposals for new grain levies to address climate and food security risks, and a call to address the silent dementia crisis. ART operations have been affected by power outages and raw material shortages, with exports and paper divisions seeing volume declines of 6% and 26% respectively in the third quarter to June 2022. Additionally, Zimbabwe is seeking US$9bn for energy expansion and has commissioned a specialized honey testing laboratory to boost export competitiveness. Political tensions at grasslands plots have led to violent attacks and forced evictions.
Must ReadXenophobic violence in key economic hubs, particularly South Africa, threatens Africa's economic growth and foreign direct investment. Despite a 75% surge in FDI to a record US$97 billion in 2024, recurring xenophobic incidents deter investment, disrupt intra-regional trade, and strain diplomatic ties. Migrant entrepreneurs are significant contributors to South Africa's economy, with International Labour Organization data indicating they contribute approximately 9% to the GDP, and over a third of international migrant enterprises employ South African citizens. The African Continental Free Trade Area AfCFTA, projected to increase intra-African trade by 45% by 2045, relies on the free movement of labor and safeguarding cross-border investments. The economic cost of instability is substantial, with research showing high-intensity conflicts can lead to a cumulative loss in per capita GDP of approximately 20% over five years. Xenophobic attacks in 2019 led to diplomatic tensions and operational disruptions for South African corporations like MTN, Multichoice, and Shoprite in Nigeria. The business community's silence on xenophobia is a misjudgment, as it represents a systemic business risk affecting supply chains, consumer markets, and investor confidence. Addressing xenophobic violence is crucial for sustained economic development and regional competitiveness, and for securing the "peace dividend" of social stability and productive investment. The success of the AfCFTA is linked t
Zimbabwe is looking to raise US$9 billion for its energy sector, with new regulations anticipated to accelerate grid expansion, improve electricity access, and attract new capital. This initiative comes as the country also focuses on other infrastructure projects and addresses climate and food security risks, including the impact of El Ni帽o. The government is also conducting a survey on the private solar boom, as many households are generating their own power. Additionally, Zimbabwe recently commissioned a specialized honey testing laboratory to enhance export competitiveness.