Zimbabwean manufacturing recovery gathers pace as exports jump 18%
via NewsDay Zimbabwe1 min read
Zimbabwe's manufacturing sector is experiencing a recovery, marked by an 18% increase in exports. This positive trend is observed despite challenges such as power outages and raw material shortages, which have impacted some operations, including ART, where exports and paper division volumes declined by 6% and 26% respectively in the third quarter to June 2022. The country is also focusing on other economic drivers, with foreign military attach茅s touring ARDA projects and praising Zimbabwe鈥檚 agricultural efforts, and the Bulawayo mayor actively seeking French investors. Vice President Chiwenga has called for industrial revival to protect the economy from global shocks, emphasizing the importance of youth, diaspora, and connectivity for growth. Meanwhile, the government is stepping up its crackdown on illegal gambling to safeguard licenses, revenue, and public trust.
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Must ReadA study by Chinese geologists has raised concerns about the structural stability of the world鈥檚 largest hydropower project on the Brahmaputra River in Tibet. The study, published in the Chinese-language journal Sedimentary Geology and Tethyan Geology, indicates that the Paizhen Fault, an active fault line beneath the dam, could significantly impact its infrastructure. Researchers from the Chengdu University of Technology, the Civil-Military Integration Centre of the China Geological Survey, and the Middle Yarlung Zangbo River Natural Resources Observation and Research Station found that prolonged fault activity has weakened surrounding rock formations, making the dam and other nearby structures vulnerable. The Paizhen area, where construction is underway, is located in the Himalayan seismic belt, a region prone to earthquakes. The geologists cited the 2017 magnitude 6.9 earthquake in Milin, Tibet, as evidence of ongoing seismic activity and warned that regional seismic action could induce landslides and collapses, threatening the safety of facilities and personnel. They recommend reinforcing vulnerable slopes and installing retaining structures. China, however, has consistently maintained that the project meets the highest industry standards, prioritizes ecological protection, and will help prevent disasters, despite the site being on a tectonic plate boundary that experiences frequent earthquakes.
The Post Office Savings Bank POSB announced a significant increase in its dividend payments, rising from US$216,334 in 2022 to US$5.14 million in 2026. This growth was attributed to improved profitability and effective capital management by the bank. The record dividend declaration highlights the bank's enhanced financial performance.
Must ReadZimbabwe has commissioned a specialized honey testing laboratory to enhance the export competitiveness of its honey products. This initiative aims to improve the quality and market access for Zimbabwean honey on the international stage. Other news includes an ex-Harare official winning a Labour Court challenge over dismissal, Econet launching XtraData Bundles, and ARDA delivering 120,000MT as Zimbabwe prepares for El Ni帽o. Additionally, Mutapa Gold upgraded its laboratory to reduce exploration costs and boost investor confidence, while ART operations were affected by power outages and raw material shortages, leading to declines in export and paper division volumes.