Seed Co’s Eleven Tonne Plus Club Promotion achieves significant yields

ZIMBABWE – Zimbabwe listed certified seed company, Seed Co has said that its farmer-focused productivity initiative, Eleven Tonne Plus Club Promotion has achieved significant yields since its inception. The program which targets commercial farmers for soya bean, maize and other seeds aims to create a source of social capital, technical capital and to enhance a…

Pure Oil invests US$9m to support soya farming in Zimbabwe

ZIMBABWE - Pure Oil Industries, the manufacturer of ZimGold cooking oil has invested US$9 million to support farmers growing soya beans, a critical raw material in the production of edible oils, reports the Herald. Zimbabwe which is facing shortage of cooking oil, has also limited availability of foreign exchange for importation of the major ingredients…

Agricultural Trust disburses US$87m for boosting agric development operations

ZIMBABWE - The Zimbabwe Agricultural Development Trust (ZADT) has provided US$87.5 million towards funding small-holder farmers and agribusinesses as it seeks to boost their operations. The Herald reports the disbursement goes to almost 530,000 beneficiaries, 26% of which are women, something in line with the government’s drive to economically empower women. According to ZADT chief…

Grain millers receive 30,000 tons of imported wheat to address shortage

ZIMBABWE - Grain Millers Association of Zimbabwe (GMAZ) has received 30,000 tonnes of wheat imported from Germany to address shortage that had seen millers temporarily cease operations, reports the Herald. The move follows foreign payments of wheat stocks by the Reserve Bank of Zimbabwe (RBZ) owed to Holbud’s Lithuanian, who had held the consignments due…

Associated Foods of Zimbabwe implements ISO 22 000 targeting export market

ZIMBABWE - The spreads and nuts company, Associated Foods of Zimbabwe (AFZ) has implemented ISO 22 000 food safety management system to enhance conformity to international standards with an eye on the export market. The certification not only provides assurance of product quality but also gives its Farmgold and Mama’s brands a better competitive edge…

Zimbabwe’s grain deliveries top 1.1m tons as it moves to become food secure

ZIMBABWE - State owned commodity trading enterprise, Grain Marketing Board has received 1.1 million tonnes in maize deliveries from farmers for the 2018 marketing season as the country moves away from grain imports, reports the Herald. According to GMB, maize deliveries were expected to reach 1.2 million tonnes given farmers were still selling their commodities…

Zimbabwe’s Seed Co lists on Botswana Stock Exchange to help raise US$19m funding

BOTSWANA - Zimbabwe’s largest seed maker Seed Co Limited has partially reduced its operations by the primary listing of Seed Co International on the Botswana Stock Exchange (BSE). The seed company will also get a secondary listing on Zimbabwe Stock Exchange (ZSE), its mother country as it targets to increase visibility on both the local…

AfDB to invest US$20m in Zimbabwe’s agricultural value chain

ZIMBABWE - Africa focused finance institution, African Development Bank (AfDB) has lined up US$20 million of investments in an agricultural value chain development programme in Zimbabwe, the Herald reports. The programme, which awaits approval from the government is looking to support three components of the agricultural value chains that is, beef development, horticulture development and…

National Foods posts 25% rise in profits favored by new political regime

ZIMBABWE - Zimbabwe’s largest milling company, National Foods Ltd has managed 25% rise in profits to US$17.174 million for the year ended 30 June 2018 and expects to benefit from better economic environment for its business following a new political dispensation. The group noted that this could only be possible if the ruling regime focused…

Simbisa Brands revenue increases 33% as it consolidates regional hold

ZIMBABWE - Zimbabwe’s Quick service restaurant (QSR) group, Simbisa Brands Limited’s revenue for the year ended 30 June increased 33% from US$151.1 million to US$204.7 million on expansion, consolidation and acquisitions in the regional markets. The group recorded growth in earnings attributed to increased operating efficiencies and higher revenue streams. Operating profit rose 60% to…