Business

Govt launches restructuring manual

GOVERNMENT LAUNCHES RESTRUCTURING MANUAL
Harare May 24, 2012 (New Ziana) –The Zimbabwe government on Wednesday launched a manual to guide the commercialization, privatization and other restructuring strategies of state enterprises and parastatals (SEPs).
The State Enterprise Restructuring Agency (SERA) produced the manual to enhance transparency, accountability and credibility in the restructuring processes.
State Enterprises and Parastatals Minister Gorden Moyo said the manual would be used as a guide to the commercial and other legislation which have impact on SEPs.
“The references in the manual are included simply to indicate key aspects as the substantial issues are covered in the original law, rules or regulations and so the original Acts and other documents should be referred to,” he said.
Moyo said restructuring of SEPs had been ranked high on economic reform agendas of many developing countries.
“It is a strategy geared at improving performance and efficiency of SEPs in the production and delivery of public goods and services, among other reasons,” he said.
He said restructuring of SEPs would assist in attracting new investment particularly foreign investment, new technology and management skills.
“That can help transform the fortunes of many of these public entities which are facing a number of legal, political and structural complexities that affect the pace at which they are restructured,” Moyo said.
The manual, he said could also give investors the needed confidence to transact business with Government.
Moyo added that good corporate governance was key to attracting best investors during restructuring.
“My Ministry is mandated with the promotion of good corporate governance in the SEPs sector and has also positive impact on the restructuring,” he said.
Furthermore, Moyo said the Ministry was also drafting the SERA Bill that should compel transparency and discipline in the SEPs restructuring process.
New Ziana

Agrifoods opens three new branches

AGRIFOODS OPENS THREE NEW BRANCHES
Harare March 22, 2012 (New Ziana) – Stock feeds producer Agrifoods on Thursday said it has opened three new depots to broaden its market base and maximize returns.
Sales and distribution manager Luke Mutemeri said the company had opened the new branches to give convenience to customers.
“Our objective in opening new branches is to get as close as possible to our customers who in most cases are farmers.
“We also want to reduce their travel expenses by visiting their nearest Agrifoods depots,” he said.
The new branches were opened in Harare in the Kopje area, Bindura and Zvishavane.
“Bindura and Zvishavane did not have Agrifoods depots and it is a positive development for the farmers. In Harare it has been located in Kopje area where there is little traffic and there is a lot of parking space for those who buy in bulk,” he said.
A subsidiary of CFI Holdings, Agrifoods, produces and distributes a wide range of feeds for domesticated animals such as cattle, goats, sheep, horses, chickens and pigs.
New Ziana

Stock feed production to double

STOCK FEED PRODUCTION TO DOUBLE
Harare March 21, 2012 (New Ziana) -Production of stock feeds in Zimbabwe is set to double this year from 350 000 tonnes last year buoyed by a rise in livestock production.
Livestock sectors such as poultry and piggery have grown significantly since the adoption of multiple foreign currencies as costs have dropped allowing more players to venture into the business.
The commercial pig herd currently stands at 12 000 representing a 50 percent increase from the 2008 figures while  day old chicks production is set to  rise to 70 million this year, a 40   percent  increase from last year.
Installed capacity for local stock feed manufacturers stands between 600 000 metric tonnes and almost 1 million tonnes per annum although only between 30 and 40 percent is being utilized. 
Stockfeeds Manufacturers Association (SMA) chairman Fungai Mungate said the industry had the capacity to double production this year.
“We will certainly double production of stock feeds this year since there is a surge in demand as more farmers are taking livestock production in the country seriously as a business venture.
“In addition, most of our members now can afford retooling. Some have refurbished their plants and others have actually installed new ones all together,” he said.
The SMA has 37 members accross the country.
Mungate said growth of the agriculture sector in general also drove the rise in manufacturing of stock feeds.
“We continue to urge the government to channel more resources towards crop and animal production in the country as it has an impact on the manufacturing industry,” he said.
“High yields of maize and soya beans guarantees raw materials for us while increase in live stock production will push up the demand of stockfeeds.”
He said the association was importing 75 percent of its raw materials.
“Amongst the raw materials we require only cotton seed is readily available. The rest are being imported from neighboring countries,” he said, adding maize was being imported from Zambia and soya bean from India.
The Stock feed Manufactures Association of Zimbabwe has been in existence since the 1990s, went into hibernation during much of the economic downturn in the country before being resuscitated in May 2007.
New Ziana