🇿🇼ZimbabweSouthern Africa
Zimbabwe's economic challenges persist amid power outages and raw material shortages
via NewsDay Zimbabwe1 min read
A report indicates that government economic mismanagement is driving millions into poverty in Zimbabwe. The country is experiencing power outages and raw material shortages, which have impacted operations for manufacturers like ART, whose exports and paper divisions saw declines of 6% and 26% respectively in the third quarter of 2022. Despite these challenges, tobacco exports have surged by 62% due to strong global demand, and the VFEX shows stability. Edgars' full-year performance suggests a recovery and strategic pivot, with financial services becoming a significant profit driver alongside retail operations. Political tensions over grasslands plots have led to violent attacks and forced evictions. Meanwhile, 97% of exhibition space has been taken up at ZITF, and March 2026 rains have improved some crop conditions.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
Zimbabwe is grappling with a range of issues, including economic instability and political tensions. The country is experiencing power outages and raw material shortages impacting operations at ART, with its exports and paper divisions seeing volume declines of 6% and 26% respectively in the third quarter to June 2022. Proposed new grain levies are being considered as Zimbabwe confronts climate and food security risks. On the political front, retired generals have warned Members of Parliament against supporting Constitutional Amendment Bill No. 3, while Zanu PF is anticipated to push for a referendum. Separately, the licence for Orchid Funeral Assurance has been cancelled by IPEC, with policyholders instructed to file claims by June 30. In other news, two Bulawayo suburbs have been identified as HIV hotspots, and a finance boss in Bikita RDC has been arrested over alleged abuse of office. Efforts are also underway to benefit 300,000 Zimbabwean farmers through chilli production, and China is promoting zero-tariff access as Zimbabwean women manufacturers launch a new body.
Must ReadRetired generals have issued a warning to Members of Parliament regarding their support for Constitutional Amendment Bill No. 3. This comes amidst a political climate where various national issues are being discussed, including economic challenges, agricultural initiatives, and local governance concerns. The generals' stance highlights potential divisions within the political landscape concerning the proposed amendment.
Zimbabwe is grappling with various issues, including power outages and raw material shortages impacting ART operations, with its exports and paper divisions seeing volume declines of 6% and 26% respectively in the third quarter to June 2022. Political tensions are evident, with retired generals warning Members of Parliament against supporting Constitutional Amendment Bill No. 3, and concerns raised about Zanu PF's potential influence towards a referendum. The country is also addressing food security risks with proposed new grain levies and a program to benefit 300,000 farmers through chili production. In other news, the Marondera council has demolished structures along the NRZ service line, and the Insurance and Pensions Commission IPEC has canceled Orchid Funeral Assurance's license, directing policyholders to file claims by June 30. A finance boss for Bikita Rural District Council was arrested for alleged abuse of office.
Must ReadZimbabwe is grappling with a significant $4.8 billion climate funding gap, as highlighted by a new book on governance that advocates for reforms. This financial shortfall is critical given the country's ongoing battles with climate and food security risks, which have prompted proposals for new grain levies. The urgency of securing green funding is underscored by delays in unlocking carbon cash, preventing Zimbabwe from accessing billions. Meanwhile, various local issues persist, including political tensions leading to violent attacks and forced evictions at grasslands plots, and power outages and raw material shortages impacting ART operations, with the manufacturer reporting declines in export and paper division volumes for the third quarter to June 2022. Other developments include the cancellation of Orchid Funeral Assurance's license by IPEC, with policyholders urged to file claims by June 30, and the arrest of Bikita RDC's finance boss over alleged abuse of office. Discussions around Constitutional Amendment Bill No. 3 continue, with retired generals warning MPs against backing it, and lawmakers urged to prioritize Zimbabwe's interests. The article also touches on the Zimbabwe Industrial Hemp Trust, the importance of agri-input dealers, and the integration of traditional land custodianship into ESG reporting.