Reply to thread

Message

[QUOTE="Queen, post: 88549, member: 27"]
Zimbabwe’s fertilizer makers are bleeding cash right when global supply chains are getting wrecked by that Middle East conflict.

Working capital is a nightmare
[LIST]
[*]Clemence Chiduwa said all fertilizer companies are facing serious capital issues.
[*]Electricity costs are up to 16 US cents per kilowatt hour.
[*]Regional competitors pay around 6 cents for the same power.
[*]Labor costs are also too high relative to current efficiency levels.
[/LIST]
The government wants to stop importing so much
[LIST]
[*]The sector cost Zimbabwe over US$331 million in imports last season.
[*]A new Industrial Development Fund has ZiG101 million available for firms.
[*]Companies can also tap into the central bank’s target finance facility.
[*]Chiduwa stressed prioritizing local procurement through PRAZ.
[/LIST]
Sable Chemicals is getting back online
[LIST]
[*]Finance minister Mthuli Ncube is backing Sable to finish plant refurbishments.
[*]They’re aiming to produce 20,000 metric tonnes of top-dressing fertilizer.
[*]The plant is currently closed but should resume in May.
[*]Mutapa Investment Fund is also pumping US$5.3 million into Dorowa Minerals.
[/LIST]
Regulatory fees are getting a haircut
[LIST]
[*]The committee noted that high regulatory charges are hurting competitiveness.
[*]They’re happy those fees are finally being reformed.
[*]Ease of doing business reforms are critical to level the playing field.
[*]A full report is coming to guide legislative support for the sector.
[/LIST]
[/QUOTE]

Name