Zimbabwe agri-tech startup bags grant funding from Hult Prize for expansion

ZIMBABWE – Zimbabwean agri-tech startup Farmhut has secured US$100,000 in grant funding after being selected as one of the winners of the Hult Prize competition. Hult Prize, is an annual, year-long competition that crowd-sources ideas from university level students after challenging them to solve a pressing social issue around topics such as food security, water access, energy, and education. Farmhut received the award courtesy of its AI-powered marketplace connecting farmers to markets that pay fair prices for their produce. It enables farmers to grow their business fast throughout the year,…

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EU invests US$5.9M in Zimbabwe’s climate-smart livestock production

ZIMBABWE – The European Union (EU) in collaboration with the government of Zimbabwe has unveiled a US$5.9M project aimed at increasing the adoption of climate-smart innovations in livestock production systems in the country. The project dubbed, Livestock Production Systems in Zimbabwe (LIPS-Zim) has been launched in Buhera District, Zimbabwe and is designed to identify, pilot and upscale measures for improved productivity in livestock production. LIPS-Zim has the overall objective of increasing agricultural productivity in Zimbabwe’s semi-arid agro-ecological regions IV and V, contributing to the government’s agricultural transformation agenda. These areas…

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Zimbabwe’s National Foods reports 25% rise in volume on back of reduced inflation

ZIMBABWE – National Foods, one of Zimbabwe’s largest food manufacturer has reported a 766% rise in half year revenue to ZWL 12.682 billion (US$35m) in historical terms, for the period ended December 2020. According to the company, the period saw a significant stabilisation in the economic environment, mainly brought about by reduced inflation following the introduction of the foreign currency auction. Volumes for the period increased by 25% to 264,000 tons compared to the prior period, reflective of the company’s pricing strategy as well as the improved consumer purchasing ability…

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African Distillers Zimbabwe appoints Stanley Muchenje as Managing Director

ZIMBABWE – Zimbabwean wine and spirits manufacturer, African Distillers Limited (Afdis) has announced the appointment of Stanley Muchenje as the Managing Director of the company with effect from 1 April 2021. Stan will be taking over the helm of the organization from Cecil Gombera who retires from the company effect from 31 March 2021. Cecil joined the Afdis in October 2012 as the Chief Operating Officer. On 01 July 2013 he was appointed as the Managing Director, a position he held for 8 years. “The Board is grateful to him…

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Zimbabwe’s leading beverage manufacturer Delta Corporation expands soft drink distribution network

ZIMBABWE – Delta Corporation Limited, leading manufacturer and marketer of beverages in Zimbabwe has received the approval of the Competition and Tariff Commission (CTC) to expand its soft drink footprint and distribution network in Manicaland province. The beverage maker is involved, through its principal subsidiary Delta Beverages, in the brewing of lager and traditional beer and the bottling of soft drinks under licence from the Coca Cola Company. Following the approval, The Coca-Cola Company has extended its sparkling beverages franchise arrangements to cover the Eastern part of Zimbabwe. This cements…

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Private financing sector arm Proparco issues US$25m loan to Seed Co to bolster food security

ZIMBABWE – Listed seed producing giant, Seed Co has received a US$25 million loan financing from French development financial institution Proparco, to strengthens food security in the region. The seven-year support is divided into two tranches, each for US$ 12.5m, with a 7-year maturity. According to Proparco, it will be channelled towards research and international expansion via a loan to Seedco Zambia. Secondly it will include the construction of a corn dryer at its Zimbabwe operations, which will increase the production capacity, double farmers’ harvests and do more to address…

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Zimbabwean grain millers to invest US$8 million towards breakfast category in anticipation of bumper harvest

ZIMBABWE – In anticipation of a bumper grain harvest in the 2020/21 season, Zimbabwean millers are seeking to pump US$8 million towards the breakfast category. This was revealed by the Grain Millers Association of Zimbabwe (GMAZ) highlighting that it is expecting 2 million tonnes of grain to be delivered at its granary with 1.8 million tonnes comprising of maize and the rest of traditional grains. The improved agriculture output will be realised on back of ample rains during the farming season and timely distribution of inputs across the country by…

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Zimbabwe processed food export show case stellar performance attaining 17.9% growth

ZIMBABWE – Zimbabwe’s export of processed foods registered a bullish performance in 2020 despite the heavy strain from the Covid-19 pandemic, attaining a 17.9% rise in earning from US$98 million in 2019 to US$115 million, and further up from US$71.2 million recorded in 2018. This was revealed by the national trade promotion body, ZimTrade highlighting that top exported products included sugar fetching US$76 million, fruit juices earning US$5.6 million and pastry products gaining US$3.7 million. The growth was triggered by access of new markets, increased investment in better technologies, adoption…

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Zimbabwe sugar cane farmers get backing from commercial bank CABS, avails US$2m financing facility

ZIMBABWE – Zimbabwean commercial bank, CABS has availed a US$2 million financing facility to support sugar cane farmers in the country increase production. According to reports by The Herald, the war-chest is ample to rehabilitate over 1 000 hectares of cane fields to push up yields. Working capital constraints have been one of the key stumbling blocks to efforts by commercial cane farmers to increase yields resulting in depressed output. Zimbabwe earns more than US$70 million annually from sugar exports and increasing yields and the area under cane will boost…

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Zimbabwe to tap into aquaculture, development of fisheries to meet growing demand

ZIMBABWE – Zimbabwean’s meat consumption is estimated at 120, 000 tonnes of broiler chicken meat, 72, 000 tonnes of beef, 50, 000 tonnes of fish, and 9, 250 tonnes of pork each year. These are findings according to a recently released reports by the Zimbabwe National Statistics Agency (ZimSTATS) who undertook “The Poverty, Income, Consumption and Expenditure Survey” in 2017. Zeroing in to fish, the annual per capita consumption of fresh, frozen and dried fish is 3.89kg in rural and 3.64 kg in urban areas, with an average national annual…

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