Fertiliser manufacturer Omnia has disclosed that its operations in Zimbabwe registered a loss of R96 million in 2021 owing to exchange rate losses.
However, Omnia maintains that Zimbabwe will remain a strategic investment destination, though the unstable economic climate requires management to be versatile.
The company says African governments are currently jostling to secure fertiliser for their smallholder farmers, in the face of expected shortages due to the ongoing Russia-Ukraine conflict.
The two countries are the main producers of fertilizer worldwide.
In the same light, fertiliser input materials have gone up by about 400% since January.
Apparently, farmers in Zimbabwe have been complaining about the high cost of inputs particularly fertilizer.
Zimbabwe’s economy is primarily agro-based, though the country is also minerals rich.
The Minister of Primary and Secondary Education Torerai Moyo has explained the rationale behind revising… Read More
A 37-YEAR-OLD tout from Birchenough Bridge died during sex with a passenger who did not… Read More
Sports betting in Ethiopia is more than a pastime—it's a passion that captures the essence… Read More
The government through the Zimbabwe Media Commission (ZMC) has produced the "Gukurahundi Code of Conduct… Read More
In August last year the High Court Rules were amended by SI 153/2023 to allow… Read More