James Bowmaker News Today

As the prices for basic commodities continue to increase exponentially, sugar processor Tongaat Hulett has also hiked the price of sugar.

The Reserve Bank of Zimbabwe has backtracked on its blanket directive to stop banks’ lending activities after Tongaat Hulett’s Zimbabwe units and other companies stopped credit sales and advances to suppliers.

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Tongaat Hulett’s Zimbabwe unit has suspended advance payments to sugar cane farmers.

The Reserve Bank of Zimbabwe has backtracked on its blanket directive to stop banks’ lending activities after Tongaat Hulett’s Zimbabwe units and other companies stopped credit sales and advances to suppliers.




HARARE - Some companies operating in the agro-business sector in Zimbabwe have stopped offering credit facilities and advance payments, opting to work on a cash basis, after the government stopped banks from their core business of lending. Last weekend, President Emmerson Mnangagwa ordered banks to stop lending or offering credit lines to businesses and individuals.…

Tongaat Hulett’s Zimbabwe unit has suspended advance payments to sugar cane farmers.

Reserve Bank of Zimbabwe governor, John Mangudya, called it painful, but a "temporary, necessary measure to ensure that there is sanity in terms of taming inflation".