Breaking News

Government in bid to recapitalise Olivine Industries

by Staff Reporter
03 November 2018 | 395 Views
The government is considering selling part of its stake in Olivine Industries to an external investor to raise foreign currency towards recapitalising operations.

The tour of the cooking oil manufacturing giant Surface Wilmar by the Minister of Finance and Economic Development Professor Mthuli Ncube today created a platform to assess the challenges affecting the sector.

Low capacity utilisation, high costs, and limited foreign exchange emerged as key constraints.

With Surface Wilmar being the main investor in Olivine where the government holds a 35 percent stake, Minister Ncube made a passionate plea to restore the glory days of the entity.

"We are just looking at the possibilities of selling the shares to maximise production," he said.




The company stands to benefit if the proposal to dilute shareholding by the state becomes a success, notes its acting chief executive officer Mr Sylvester Mangani.

"It is now about those that can be of greater interests to the needs of the firm," he said.

The revival of the fast moving consumer goods company is also anticipated to reduce the import bill for cooking oil and some groceries.

Government recapitalise Olivine Industries

Source: zbc

Comments

Latest News

European Union shocks Mnangagwa's government

by Mandla Ndlovu | 20 August 2019 | 3 Views

Chamisa's hired soldiers caught with their pants down

by Dr Masimba Mavaza | 20 August 2019 | 70 Views

A Letter to Zimbabwe National Army Officers - DEAR ZIMBABWE NATIONAL A...

by Poverty-Stricken Zimbabwean | 20 August 2019 | 132 Views

Our 'scoop' obsessed jurnos, first things first - A middle-aged woman ...

by Tondorindo Murisa. | 20 August 2019 | 29 Views

Jonathan Moyo, Kirsty Coventry mourn Mnangagwa's 'love-rival'

by Mandla Ndlovu | 20 August 2019 | 2310 Views

Europe sends a strong message to Mnangagwa

by Mandla Ndlovu | 20 August 2019 | 2478 Views

The Crocodile in Crisis

by The Times | 20 August 2019 | 2443 Views

Zimbabwe youths rally behind Chief Ndiweni

by Mandla Ndlovu | 20 August 2019 | 1834 Views

'Zimbabwe to issue cash notes soon'

by Bloomberg | 20 August 2019 | 2608 Views

Zimbabwean woman forced to give birth standing up in South Africa - A ...

by Staff reporter | 20 August 2019 | 969 Views

WATCH: Soldiers in Gweru march on behalf of Chamisa's MDC

by Staff reporter | 20 August 2019 | 6344 Views

Zimdiaspora in final push

by Thabo Makuyana | 20 August 2019 | 832 Views

Moral authority is a pre-requisite for Good Governance

by Big Monday with Tinashe Eric Muzamhindo writes: | 20 August 2019 | 115 Views

How to improve academic performance with proper time management

by Staff Writer | 20 August 2019 | 121 Views

Open letter to Jacob Mudenda: What was your role during Gukurahundi?

by Nicholas Ncube | 20 August 2019 | 597 Views

'Ignorance of failing to see sanction will go if have free elections, ...

by Patrick Guramatunhu | 20 August 2019 | 278 Views

'Zimbabwe not heading towards hyperinflation'

by Bloomberg | 20 August 2019 | 698 Views

Zanu-PF Central Committee member attacked in Nyanga - Zanu-PF central ...

by Staff reporter | 20 August 2019 | 656 Views

2 die in Chipinge bus accident - Two people have died following a head...

by Staff reporter | 20 August 2019 | 527 Views

Mnangagwa 'victim' dies

by Staff reporter | 20 August 2019 | 4330 Views

Zanu-PF Manicaland accuses MDC of cheap politicking - ZANU-PF youths i...

by Staff reporter | 20 August 2019 | 270 Views

Claim freedom granted by Constitution in peace - IF the citizens do no...

by Fr Oskar Wermter SJ | 20 August 2019 | 151 Views

Austerity measures: Is Zimbabwe drinking poisoned chalice?

by Cliff Chiduku | 20 August 2019 | 288 Views

Zanu-PF's economic policy record 'poor': US think tank - UNITED States...

by Staff reporter | 20 August 2019 | 288 Views

Police ban anti-government protests in Gweru

by ZimLive | 20 August 2019 | 388 Views

Zanu-PF member attacked in intra-party violence - ZANU-PF Manicaland p...

by Staff reporter | 20 August 2019 | 289 Views

Protests a form of feedback - Zimbabweans have noted with sadness the ...

by Zanda Shumba | 20 August 2019 | 268 Views

Rural teachers chicken out

by Staff reporter | 20 August 2019 | 448 Views

Entertainment

Rebecca Malope retires

by Mandla Ndlovu | 20 August 2019 | 1440 Views

Famous women in the gambling industry

by Staff Writer | 20 August 2019 | 325 Views

Zimfest delivers another 'phenomenal' festival

by Tidi Kwidini | 07 August 2019 | 634 Views

Should you be betting on reality TV show outcome too?

by Staff Writer | 05 August 2019 | 84 Views

WATCH: Jah Prayzah featuring Iyasa Sadza nemuriwo song

by Mandla Ndlovu | 23 July 2019 | 5678 Views

Muvhango star Marang Phala visits Prophet Sovi's church

by Mandla Ndlovu | 22 July 2019 | 9622 Views

Pure Black set to take Africa by storm

by Mandla Ndlovu | 04 July 2019 | 1000 Views
iBlog

Samsung Gear Vr Innovator Edition For S6: The Perfect Vr Intro For Professionals

we're drenched in talk about the impending wave of consumer-facing vr headsets about to hit the market, starting at the end of 2015. by contrast, you can walk into a best buy right now and pick up the samsung gear vr innovator edition for the galax... Read More
Sergey 20 June 2015 ago

Greatsoftline For All Of Your Software Needs

coupon and promo codes: greatsoftline for all of your software needswhile some online sellers have promotional services that reduce the overall amount you spent, others do not .you need to be on the lookout for the best outlets in order to chase th... Read More
ITnews 25 February 2015 ago