Harare, (New Ziana) – Sugar producer, Hippo Valley Estates said on Thursday its operations remain adequately funded as demand for its products on both the local and export markets is very high even as the world battles the Covid-19 pandemic.

Government designated the firm an “essential service provider” and allowed it to continue with its operations as the country went into a
nationwide lockdown which saw most companies being forced to temporarily shut down operations.

The lockdown has seen most companies requiring bailouts to re-start
operations which were affected by the temporary closure.

“The demand for sugar in the local market has remained strong,”
Marokane said in an update.

“As a result, the company is adequately funded and is able to meet its
working capital requirements.”

He said the firm had not experienced “any major disruptions to its operations with all key activities that include sugar cane maintenance,
harvesting, sugar packing and distribution operations progressing
satisfactorily.”

The sugar milling season commenced on May 5.

Marokane said the company had invested ZWL$13 million in Covid-19
mitigation measures and was implementing a variety of measures to keep
its workforce safe during the operations.

Sugar, however, remains in short supply on the market but is readily
available on the informal market at prices that are double the
official price.
New Ziana