They largely emanated from upward pressure on cost structures resulting from the inflationary environment.

Money markets and other assets stood at 5% and 7% respectively.

Ganediwal said the fertiliser supply project was meant to ensure full support for the agricultural sector.

Deputy Finance minister  Clemence Chiduwa blamed the sanctions imposed by the United States through the Zimbabwe Democracy and Economic Recovery Act (Zidera) of 2001

Mpofu said for the informal sector to access credit lines, they must have bank accounts.

AfriSun CEO Peter Saungweme said the company splurged US$2 million on refurbishments at Troutbeck.

While there are expectations that nominal import growth will slow a little in 2023, Fitch said this would reflect lower global commodity prices, rather than weaker underlying import demand.

In a statement, ZSE said it had requested Lafarge to provide a roadmap on how it aims to resolve the challenges the business is facing.

RBZ governor John Mangudya  announced that forex retention thresholds for business had been raised to 75% from 60% on export earnings

In January, the Reserve Bank of Zimbabwe red flagged corporate governance standards at the financial institution and said it was working with the Women’s Bank to address them.

The group said sales volumes for the group decreased by 11,33% for the quarter and 9,37% for the nine months to December 2022 compared to the prior year.

Turnall has been beset with a high turnover of MDs, one of them following a forensic investigation that brought out serious governance deficiencies.

With the introduction of gold coins which have been accorded a prescribed assets status, Ipec said it expected the ratio to improve.