According to Finance Minister Mthuli Ncube, Zimbabwe's economy is expected to grow by about 6% this year. This is good news, even though the country had very little rain at the start of the farming season.
Prof. Ncube said the recent rains have made people more hopeful for a good harvest. But he also said the growth rate might change, depending on the weather.
"The rains have been great lately," Prof. Ncube said during a visit to a food factory called Glytime Foods. "That should give us a good crop. For now, we're still aiming for 6% growth."
Last year, Zimbabwe experienced a terrible drought—the worst in over 40 years. The drought really hurt farming and slowed economic growth to just 2%.
Farming is a huge part of Zimbabwe's economy. It provides many people with jobs, and when farming does well, it helps many other businesses.
Prof. Ncube said a new program by Zimbabwe's central bank will give more money to businesses. This should also help the economy grow.
The government plans to invest $1 million in Glytime Foods. The money will come from a special fund that helps new companies with big potential.
"We're very proud of these young people," Prof. Ncube said about Glytime's owners. "They started this business right out of school. They're showing that anyone can become a serious entrepreneur."
Glytime Foods has already invested about $4 million in a new factory. The factory will produce healthy foods like sugar-free snacks and can produce 24 times more food than the old one.
Glytime's founder, Lesley Marange, said they get ingredients from all over Zimbabwe. They use local grains, honey, and fruits in their products. The company already sells to other countries in the region. With the new factory, they hope to reach even more places.
Right now, Glytime has 54 workers. Once the new factory opens, they plan to hire 180 people. It's an exciting time for this growing business and Zimbabwe's economy as a whole.
Prof. Ncube said the recent rains have made people more hopeful for a good harvest. But he also said the growth rate might change, depending on the weather.
"The rains have been great lately," Prof. Ncube said during a visit to a food factory called Glytime Foods. "That should give us a good crop. For now, we're still aiming for 6% growth."
Last year, Zimbabwe experienced a terrible drought—the worst in over 40 years. The drought really hurt farming and slowed economic growth to just 2%.
Farming is a huge part of Zimbabwe's economy. It provides many people with jobs, and when farming does well, it helps many other businesses.
Prof. Ncube said a new program by Zimbabwe's central bank will give more money to businesses. This should also help the economy grow.
The government plans to invest $1 million in Glytime Foods. The money will come from a special fund that helps new companies with big potential.
"We're very proud of these young people," Prof. Ncube said about Glytime's owners. "They started this business right out of school. They're showing that anyone can become a serious entrepreneur."
Glytime Foods has already invested about $4 million in a new factory. The factory will produce healthy foods like sugar-free snacks and can produce 24 times more food than the old one.
Glytime's founder, Lesley Marange, said they get ingredients from all over Zimbabwe. They use local grains, honey, and fruits in their products. The company already sells to other countries in the region. With the new factory, they hope to reach even more places.
Right now, Glytime has 54 workers. Once the new factory opens, they plan to hire 180 people. It's an exciting time for this growing business and Zimbabwe's economy as a whole.
