The Building of Zimbabwe.

Climate Taxation Investment Production Amenities

A foundation of the strongest economy in indépendant Africa. With a flooring of a polished and sophisticated investment infrastructure. Walled by solid small, medium and large indust¬ rial, agricultural and commercial development Easy access gained through import and export doors which swing easily both ways with equal facility.

With windows opening out onto the panorama of the markets of Africa.

A ceiling which offers the protection of one of the most stable taxation systems in the world.

Amenities which include one of the most pro¬ gressive and sophisticated communications systems on the continent.

And ... we haven't stopped building yet— we don't envisage doing so for a long, long time.

Department of Information, '.O. Box 8150, Causeway. Harare. Zimbabwe. Tel. 703891 Telex 4142 ZW A FIELD FOR INVESTMENT

1985/86

Published annually in the interests of economic progress — selective world distribution

Printed by: Editor Published by: Thomson Amalgamated Press, Advertising Sales Publications Zimbabwe, P.O. Box Box ST293, Southerton. Production, Layout & Design 1683, Harare.

CONTENTS

Facts about Zimbabwe 2 National Statistics 3 Agriculture 4 Mining 8 Manufacturing 11 Commerce 13 Energy 14 Exports 15 The Private Sector 16 The Banking Sector 17 Finance and the Institutions 23 Transport 28 Tourism 33 Industrial and Commercial Centres 39

Statistics are taken from official sources and the Economic Survey of Zimbabwe 1980, produced by the Ministry of Finance.

PARTICIPANTS L__ Page Air Zimbabwe 30 Lonrho Zimabwe Ltd Aluminium Industries Ltd 13 National Railways of Zimbabwe Anglo American Corp. Services Ltd 9 Oyxo Barclays Bank of Zimbabwe 19 PG Industries CABS 44 POSB Cold Storage Commission 6 RAL Merchant Bank Ltd

Department of Information ... IFC Standard Chartered Merchant Bank Zimbabwe Ltd General Accident Fire & Life Assurance Corp Ltd 15 Udc Ltd Grindlays Bank 42 Zimbabwe Banking Corporation Ltd Harare Sheraton Hotel 38 Zimbabwe Credit Insurance Co Ltd Hunyani Paper & Packaging 7 Ziscosteel

Karina Textiles (Pvt) Ltd ..... 14

1 FACTS ABOUT

ZIMBABWE

Beitbridge

SOUTH AFRICA ZIMBABWE is situated in south central Africa north of the Tropic of Capricorn.

• It has no direct access to the sea except through the Republic of South Africa to Zimbabwe is also a member of the nine-nation Southern African Development the south and Mozambique to the east. Co-ordination Conference (SADCC), the Organisation of African Unity (OAU) and the Central and Southern African Preferential Trading Area (PTA) It is separated from the Republic of Zambia by the Zambezi River and to the which became operational in July 1984. The headquarters of the PTA Clearing west is the Republic of Botswana. House are situated in the Reserve Bank of Zimbabwe.

It has an area of 390 245 — square km about three times the size of England. • Four fifths of it is above 600 m and less than a twentieth is 1 500 m above sea Transport and communications are well developed and social and administrative services are efficient and comprehensive. level, giving a healthy, pleasant climate. • Population: The official 1982 census puts the figure at 8,4 million. Following the democratic election in April 1980, Zimbabwe was afforded full recognition by the international community and became the 153rd member of It has good summer rainfall, ample water and electricity supplies, considerable the United Nations in August 1980. and well diversified mineral deposits and basic requirements for a viable agricultural industry, which usually provides more than its basic needs. Zimbabwe's Prime Miniter is the new leader of the Non-Aligned Movement. —

NATIONAL INCOME SUMMARY OF EXTERNAL TRADE

$ million $ million

Item 1979 1980 1981 1982 1983 Including Transactions Where no Currency is Involved (C.I.)

Wages and salaries 1494 1902 2319 2 774 3 015 Period Domestic Gold Re- Total Total Visible Exports Sales exports Exports Imports balance Rent 52 60 70 68 71 Rented dwelling (Private) 16 15 20 18 19 Imputed for owner-occupied dwellings 21 18 24 23 25 1970 245,1 7,6 6,1 258,7 235,0 23,8 Central and local government 25 27 26 27 27 1971 266,3 17,5 6,5 290,2 282,2 7,8 1972 322,2 20,7 6,2 349,1 274,7 74,4 Gross 983 1 264 1 660 1 767 1995 operating profit 1973 377,8 5,0 6,3 389,1 308,6 80,5 185 271 398 490 437 Unincorporated enterprises 1974 482,1 42,5 6,5 531,2 438,3 92,8 Companies (non-financial) 741 973 I 226 I 267 1 462 Financial institutions 62 85 90 111 136 1975 477,7 45,3 8,2 531,3 461,9 69,4 Public Corporations (non-financial) 51 24 33 20 87 1976 518,2 34,6 4,6 557,4 382,7 174,7 Central and local govt, enterprises 25 19 34 25 46 1977 500,8 45,7 4,4 550,8 388,1 162,7 Less imputed banking service charges -81 -108 -121 -146 -173 1978 558,7 46,1 4,6 609,3 403,7 205,6 1979 645,4 66,6 3,7 715,7 549,3 166,4 Gross domestic income (factor cost) 2 539 3 226 4 049 4 609 5 081 1980 787,5 115,2 6,5 909,2 809,4 99,8 Plus indirect taxes 262 317 504 709 960 1981 888,1 76,3 7,3 971,7 1 017,7 -46,0 Less subsidies -90 -100 -120 -169 -60 1982 807,2 140,5 20,7 968,4 1081,8 -113,4 Gross domestic income (market prices) 2711 3 443 4433 5149 5 981 1983 1025,7 104,3 20,2 1150,2 1061,6 88,6 Less net investment income paid abroad -53 -47 -115 -192 -239 1983 January 74,2 7,4 1,1 82,7 86,1 -3,4 Gross national income (market prices) 2 658 3 396 4318 4 957 5 742 February 73,4 8,4 1,6 83,4 81,0 2,4 March í 71,3 10,8 2,8 84,9 113,1 -28,2

April 60,3 — 2,0 62,3 78,0 -15,7 GROSS DOMESTIC PRODUCT AT FACTOR May 89,1 — 1,3 90,4 83,8 6,6 June 65,0 30,4 2,5 97,9 91,3 6,6

COST BY INDUSTRY OF ORIGIN July 78,5 3,9 1,2 83,6 96,5 -12,9 August 63,1 23,0 3,3 89,4 97,0 -7,6 Item 1979 1980 1981 1982 1983 September 96,0 4,0 1,5 101,5 97,3 4,2

October 108,6 — 0,7 109,3 76,2 33,1 (at current prices) $ million November 120,6 — 1,1 121,7 79,2 42,5 December 125,6 16,4 1,1 143,1" 82,1 61,0 Agricultural and forestry 325 458 649 662 592 1984 Mining and quarrying 226 285 250 217 284 January 100,6 — 1,6 102,2 107,0 -4,8 Manufacturing 623 802 1016 1 121 1 385 February 103,4 40,9 3,0 147,3 97,0 50,3 78 73 134 March 97,7 2,1 2,1 101,9 89,9 12,0 Electricity and water 71 70 185 194 Construction 92 87 133 April 71,6 32,5 1,6 105,7 81,4 24,3 123 159 185 228 274 Finance and insurance May 76,6 — 0,9 77,5 93,0 -15,5 55 55 59 Real estate 44 43 June 82,6 9,3 1,6 93,5 100,5 -7,0 313 451 603 718 737 Distribution, hotels and restaurants . 362 364 July 93,7 — 1,1 94,8 98,8 -4,0 Transport and communications 188 211 306 August 106,6 13,7 1,3 121,6 116,5 5,1 Public administration 269 290 307 357 375 September 119,6 — 1,6 121,2 83,6 37,6 Education 98 169 215 309 343 Health 60 71 82 106 109 October 14,2 20,7 2,9 163,8 109,3 54,5 Domestic services 53 65 72 85 88 November 277 316 Other services, n.e.s 136 173 219 December -82 -108 -121 -146 -173 Less imputed banking service charges Jan.-Oct. 1983 779,5 87,9 18,0 885,4 900,3 -14,9 1984 992,6 119,2 17,7 1129,5 977,0 152,5 Gross domestic product 2 539 3 226 4 049 4609 5 081 3 AGRICULTURE

highest agricultural earner of foreign GIVEN the good 1984/85 growing currency after tobacco. season, following three difficult years About 55 percent of the crop is of drought farmers in all areas of the grown by 900 large scale commercial Agricultural sector responded in an growers, the remainder being grown extremely positive manner. Production of most of Zimbabwe's by farmers in small scale commercial, resettlement and communal farming major agricultural aommodities areas, as well as in estates owned by the increased significantly and we are once Government Agricultural and Rural more to all intents and purposes, self- sufficient as a nation in all our Development authority. Cotton has become the most foodstuff needs, with substantial important cash crop for communal amounts of many of our surplus growers and, through extension agricultural commodities available for efforts, research and training, yields on export. It is believed that exports of communal farms have increased agricultural products from the steadily in recent years. 1984/85 season's production could The cultivation of cotton is exceed $900 million, an increase of controlled about 50 percent over the previous by Government legislation and the Cotton year. Marketing Board is This has helped lead Zimbabwe, tasked with: back onto the road to economic • Purchasing and storing all of recovery. Zimbabwe's seed cotton. • One of the most positive aspects of Processing, by ginning, the seed cotton into the marketable the 1984/85 season is that Zimbabwe once most has a significant reserve of products of lint and cottonseed. its staple diet, maize. Cotton • Marketing these products on domestic and international production, a major foreign currency markets. earner, was also up on the previous Combine harvester in operation in a wheat field. • year. Ranchers and cattlemen as a Ensuring that there is sufficient whole in the drier areas, who suffered planting seed for farmers. very heavily during the drought years Cotton growers are represented by and management, wherever possible the original target mainly due to are once more restocking their herds. three farming organisations — the must be further climatic conditions Wheat production, another improved upon. prevailing during Commercial Cotton Growers' the commodity that suffered significantly growing season. Association (part of the Commercial The seasonal average after the 21st in the past due to the shortage of water, Tobacco Farmers' Union) — large scale week of sales with some 67 will once more be back to a level that percent of commercial; the Zimbabwe National THE the crop having been sold was 279,74 will achieve near sufficiency of the 1983/84 crop of Virginia flue- Farmers' Union — small scale country's requirements. cured tobacco was 119 636 157 kg from cents/kg. The sales season will close in commercial; the National Farmers' mid-October. These achievements are all 50 486 ha planted with a record Association of Zimbabwe — The Tobacco Marketing Board justification for a feeling of pride as a average yield of 2369 kg per ha. The communal. have announced after close of tenders Nation. crop was sold for an average price of The CCGA has established and for the 1985/86 season that growers However, as a largely agricultural 206,56 cents/kg. $282400000 was operates a national institution, the will be setting out to produce a crop of economy, it is necessary that the trend, earned in foreign exchange by tobacco Cotton Training Centre, near some 135 million kg. wherever possible, continues upward, exports in the year January to Kadoma. Here hundreds of growers December and bearing in mind at all times costs of 1984. Cotton extension workers are trained production. As major exports, It is estimated that the 1984/85 every year in all aspects of cotton Zimbabwe has to remain competitive crop, currently selling on the auction COTTON is a major Zimbabwean production. A special course has now in the export field if it is to continue to floors, will finalise at approximately crop, grown by more than 130000 been developed for participants from succeed. Input costs must be stabilised 112 million kg. This has fallen short of farmers from all sectors and is now the SADCC and other countries.

4 The Centre is situated next to the farm resources and to produce good Government Cotton Research quality beef. Institute, where much progress has The national herd has begun to been made in the past 20 or so years in recover and currently stands at varietal breeding and pest control. The approximately 5,6 million. Recovery is two centres are now regarded as expected to be slow and it will be a among the finest of their kinds in number of years before the herd is Africa, if not the world. back to the levels achieved in the mid Cotton is grown in Zimbabwe seventies. Current slaughterings mainly in the Mashonaland, exceed half a million herd per annum, Midlands, Manicaland and Masvingo 85 percent of which are handled by the provinces, in either Lowveld or CSC. Middleveld. The CMB now operates The Commission is the main beef eight ginneries and nine transit depots marketing organisation and operates to deal with the intake of the ever- abbattoirs at Bulawayo, Masvingo, expanding crop, the newest ginnery Kadoma, Marondera and Chinhoyi as will open at Bindura in 1986. A ninth well as distribution and storage depots ginnery is operated by a private firm in at Gweru, Harare and Mutare. The the Lowveld, acting as an agent of the Commission also operates cattle sales Board. in the communal areas and acts as Deliveries of seed cotton to the residual buyer. In addition the Board in 1985 amounted to 300 000 Commission provides finance for tonnes — a record intake well above livestock transactions and in time of the previous record : 250 000 tonnes in drought provides price support on 1984. open market sales. Cotton is recognised as important As a beef producer, Zimbabwe to Zimbabwe for several reasons: occupies the unique position of • having Suitability for introduction of a a large domestic market for low grade cash Mr Maxwell Gandiwa of the CMB economy in communal areas. explains the process of ginning cotton to a products and by-products • from the Employment of more than 400000 visitor. industry, while at the same time people from the farm to the textile producing significant quantities of mill. The 1984 wheat intake was 98 530 Beef good quality beef for export. • Although Earning of foreign currency from tonnes. a small exporter by international export of lint — about $140 million standards, the Commission has in 1985. Coffee 1985 has been characterised by a concentrated on supplies of high • Supply of all lint requirements to process of recovery from the previous quality beef cuts to selected overseas the Zimbabwean textile indstry at THIS commodity has become an three years of drought. Although there markets. Exports currently stand at cost. is still a water tonnes • important foreign exchange earner shortage, of in the approximately 35 000 of beef Supply of cottonseed for with $36 million realised in 1984/85. southern half of the country, in general per year. In 1985 this export activity production of vegetable oil and The estimated production for 1985/86 there are ample supplies of grazing. was directed to 15 countries. The related products — half of the is 11 000 tonnes which is expected to This has made a substantial Commission exports beef in both the country's vegetable oil is expressed earn about the same amount of foreign contribution to the frozen and chilled form and offers a from cottonseed. viability of the currency as in 1984/85. cattle industry and prices on livestock vacuum packaging service. • The cake remaining after Zimbabwe is a member of the sales have firmed throughout the The country has a wide variety of expressing is a vital product in the International Coffee Organisation country. beef breeds including virtually all well mix of stockfeed. known with a quota for the 1985/86 Zimbabwe is well suited to beef European types and a number of marketing year of 5 521 tonnes. production under a variety of systems. indigenous breeds which are being Grain However, the shortfalls declared by The drier southern parts of the country developed by a small band of other producing members within the provide good grazing and under sound enthusiastic breeders. The Zimbabwe Herd Book THIS season's maize intake was 2m same group as Zimbabwe were management a high level of beef provides a record of cattle which are tonnes, nearly half of it coming from allocated to Zimbabwe in 1984/85 and production can be sustained. In the being progeny tested and there is a small farmers. This shows that the it can be expected, therefore, that in northern half of the country where sophisticated infrastructure country has recovered dramatically 1985/ 86 a further quota of rainfall is more reliable, mixed serving the industry. The beef industry in Zimbabwe from the three year drought. In 1983 approximately 600 tonnes should be cropping and livestock farming make the intake was down to 616 749 tonnes. available. it possible to optimise the utilisation of employs over 70000 people and 5 generates 20 percent of Zimbabwe's concerted effort is underway to reach agricultural output. It also provides the untapped rural market so that approximately five percent of Dairibord can nourish the majority of Zimbabwe's exports. It has great the country's population. potential and strenuous efforts are being made to realise this potential through a capital development Oilseeds programme involving the provision of new factories in Bulawayo, Harare and Masvingo and the intensification of OILSEED crops in Zimbabwe are output in the communal areas. produced primarily to satisfy the local demand for vegetable oil with Dairy surpluses being exported as oil and meal. Production at present is about THE Dairy Industry, faced with the 50 000 tonnes which is estimated to be challenge of catering for the needs of a some 15 000 tonnes below present rapidly expanding population and demand. demand, is undergoing a very positive Cottonseed at 200000 tonnes in growth programme which aims at 1985 is the major raw material seeing Zimbabwe self-sufficient in its contributing over 50 percent of the dairy requirements in the shortest processed oil, the balance coming from possible time. soyas, groundnuts, sunflowers and Heading the expansion plan is maize oil. Dairibord, the country's national milk Soyabean production in 1985 will collection, processing and marketing be 83 000 tonnes. authority. Zimbabwe's average soya yields are Recent developments include the amongst the highest in the world from completion of the multi-million dollar varieties bred locally. The rotational "long life" milk factory complex at benefits from growing soyas are well Chipinge. This became Dairbord's known and farmers grow them in sixth milk processing factory. rotation with wheat, maize and cotton. The Bulk Milk Collection Scheme is Groundnut production has now responsible for 65 percent of the dropped from a peak of 50000 tonnes national milk intake and continues to of shelled nuts in the early 1970s to less grow. than 3 000 tonnes in 1985. The main The Dairy Development Programme reason for this reduced production is was established to assist with the believed to be due to groundnut prices stimulation of milk production in the not having kept pace with the price peasant sector. Three pilot projects paid for other commodities. have been set-up in Chikwaka, the Groundnuts could be a valuable Hönde Valley and Marirangwe. The export crop but at present production latter is now producing 6,600 litres of falls short of local demand. milk a month. After reaching a peak of 25 000 Milk intake to Dairibord has tonnes sold in 1977, production of increased from 141 million litres in sunflowers dropped to approximately 1978/79 to 155 million litres in 5 000 tonnes in 1985. 1981/82, 178 million litres in 1982/83, The decision by Government to 181 million in 1983/84 and 188 million control sunflowers, thereby fixing the litres in 1984/85. producer prices, should lead to Dairibord has embarked on a expansion in all sectors. The small- vigorous programme to refurbish and scale farming sector produces the update ailing plant and equipment to major part of the crop, normally 50 to improve operational efficiency at the 60 percent of the total and it has been same time keeping costs down. A as high as 95 percent. Paper, packaging and people. We believe that Hunyani's success is a direct result of our conviction that the quality of our final product begins and ends with people. To this end, we concentrate our energies on developing and enhancing the quality of life for all those who work for us and all those who benefit from our products. As one of Zimbabwe's man-made resources, we devote considerable effort to conserving the country's foreign exchange whilst, at the same time, earning foreign exchange with our exports. We know that the present is a result of the past and what we do today will shape our future. At Hunyani we are helping to shape the future by developing manpower skills to produce the highest quality products.We are shaping not only our own future-but the future of all our employees, their families and our nation. As custodians of much of the nation's paper and packaging requirements, we see our selves as part of tomorrow's blueprint. Forever pursuing those sensitive and enlightened policies which have helped to make us what we are today. We develop the best in all of them.

ï MINING

ALTHOUGH Zimbabwe, like all pleasing to note that there is strong other mineral producing countries, has evidence in such major developed suffered severely as a result of the countries as the United States, Japan world Stacks of prepared asbestos awaiting despatch for shipment overseas. Each bag economic recession, the mining and the United Kingdom of sector has contains 57 kgs of fibre. shown strong signs of recognition of the fact that its use in a recovery during the past year. properly controlled environment This recovery has been spearheaded presents no significant danger to its by the Minerals Marketing users or to the public at large and is of Corporation of Zimbabwe, which was considerable economic value. This established in 1982 to be the sole agent gives reason to hope that the present for the sale and export of all minerals market for asbestos will be maintained produced in Zimbabwe, and its sister to the great benefit of Zimbabwe's company, the Zimbabwe Mining mining industry. Development Corporation, which was Markets for nickel and tin, though set up to invest in the industry on subject to considerable price behalf of the Government. fluctuations, remained generally Its preliminary figures for 1985 satisfactory. Unfortunately, the same show that the MMCZ's sales as agent cannot be said of copper where the during the year approached $540 world over-supply position has million, an increase of some 17,8 continued to depress prices below percent over the previous year. A levels renumerative even to efficient substantial part of this increase is, of producers, such as Zimbabwe. Much course, attributable to the strength of the same over-supply position, with the US dollar, the main currency in consequent depressed prices, apples in which the corporation's sales are the market for iron and steel. The expressed. On the other hand, its sales Corporation has, however, continued of steel during the year were unusually to be successful in selling the entire depressed because of the low exportable production of Zisco, which production of Zisco during the period remains committed for some months over which its number four furnace ahead. It continues its efforts to find was being re-built. more favourable markets for these Sales of products other than iron goods. and steel during 1984/85 were 29.3 Certain specific activities of the percent higher than in the previous Corporation also call for further year. This increase again partly comment. Earlier in 19 85 the reflected the strength of the dollar, but Corporation made its first direct sales also reflects improved prices for a of steel to the People's Republic of range of minerals, together with an China. The material has now been increase in the volume of their sales. shipped and we are confident that this Sales on own account, covering will lay the foundation for a greater minor minerals and some gemstones, volume of trade between the two also increased considerably, reaching a countries. level of $726 000 compared with only In the year under review, the $460 303 in the previous year. Corporation secured a greatly Reviewing certain of the specific increased volume of sales of asbestos products sold by the Corporation, to India, a trade which it hopes will sales of ferro-chrome continued at a develop further to the advantage of high level and on a generally rising both countries. The Corporation also market. Sales of asbestos were well negotiated a significant sale of coal to maintained. In this connection, it is Tanzania, starting what it hopes will 8 be a continuing trade. It has devoted dynamic exploration programme. much attention to the development of Initial activities have been directed trade generally with Zimbabwe's towards the investigation of known partners in the PTA and the SADCC mineral deposits which are region. undeveloped or only partially developed. Three investment targets The Corporation has also been had been identified. most active in seeking potential Firstly, the Buona Fortuna Mine in markets for exports from new mining the lower Sabi area which is a potential ventures. Amongst these are the producer of scheelite. The kyanite and, most recently, vermiculite. Its activities in this field Corporation plans to sink a prospecting shaft to 70 metres reflect the long-awaited and most and undertake lateral development with welcome revival in development of the expectation of proving ore reserves new mines, a field in which the of sufficient magnitude to justify the Corporation's sister body, the establishment of a Zimbabwe Mining Development producing mine. Corporation, is taking the lead. Secondly, the Ky Mine in Mutoko which in the past has produced kyanite Despite Zimbabwe's land-locked for both the local and export markets, position, the Corporation has been and has the potential to produce high able to maintain the free flow of quality kyanite suitable for the export's and, with it, the reputation of production of high alumina mapping, Zimbabwe as a reliable source of mining and beneficiation testwork as supply. Additionally, the Corporation well as test marketing, to obtain data has, by negotiation, been able to secure for a detailed feasibility study. substantial savings on the transport costs which would otherwise have been Thirdly, the Penhalonga East gold incurred in this process. dumps which contain about 80 000 tonnes of sands with average values of So far as the future is concerned, 1,2 grams per tonne of gold and 27,0 there are, unfortunately, signs of a grams per tonne of silver. The weakening in international economic Corporation aims to use this as a growth and, hence, in the demand and, training ground. particularly, in the prices for some of Another of the Corporation's briefs we mine the Corporation's exports. It must be is related to mining co-operatives, of we make recognised that all of the which there are several in the country. we Corporation's exports are made under Zimbawe has numerous minerals, plough intensely competitive international we build conditions. including gold, asbestos, nickel, copper, chrome and iron, in addition to limitless supplies of coal. In all, the train our people When the Zimbabwe Mining country produces more than 40 to help Zimbabwe grow Development Corporation was set up, different minerals for which there is a its first task was to develop a strategic global demand. framework within which Government's broad investment objectives could be Production figures of the six main Œ)Œ)fiô realised. Three groups were focused minerals in Zimbabwe in 1984 are as on. Firstly, precious group minerals follows: with (Mud gold as the primary objective, secondly industrial metals, and finaly GOLD 478 000 ounces, $214 120 000 ANGLO AMERICAN CORPORATION ZIMBABWE. the three T's — tin, tantalite and ASBESTOS 165 300 tonnes, $80 778 000 tungsten. COPPER 22600 tonnes, $33 764000 COAL 3 109000 tonnes, $58 264 000 It is the Corporation's long-term CHROME 476400 tonnes, $29719000 objective to adopt and maintain a NICKEL 10 251 tonnes, $59 704000 9 Zimbabwe Iron and Steel Company (ZISCO)

IN LINE WITH the economic and rehabilitation and investment industrial development of the country, programme is under active particularly the engineering and consideration and will be announced manufacturing sectors, the Zimbabwe as soon as the necessary procedural Iron and Steel Company Limited has policy decisions are finalised. Initially for some time being reviewing its the plan will involve improving the operations with a view to up-grading efficiency of operations followed by and widening the range of products in widening of the range of products to order to meet the demands of the include higher value steel for domestic domestic export markets and take and export consumption. The advantage of exports into company is also addressing itself to the neighbouring countries to which, by needs of the rural growth centres virtue of the PTA, Zimbabwe is which the Zimbabwe Government committed. have identified for development. A medium and long term Domestic consumption of steel is

LQNRHO HELPS BUILD ZIMBABWE

This is the underlying theme in all Lonrho's many activities within Zimbabwe. Originally a mining company, Lonrho has diversified extensively into fields as varied as forestry, agriculture, textiles and engineering, in addition to mining. All are contributing significantly towards Zimbabwe's drive for much needed foreign exchange.

THE WATTLE COMPANY LONRHO RANCHING OPERATIONS An aerial view of the Ziscosteel plant. DAVID WHITEHEAD TEXTILES LTD.

DAHMER AND COMPANY.

MINING IN ZIMRABWE. expected to increase as growth points comparatively stable labour force. take shape and this can be effectively Recruitment and training of qualified promoted by the company making personnel is at an advanced stage. Like finished and semi-finished products other iron and steel producers based on the needs and requirements throughout the world, the company is consumers. not without Investing in Zimbabwe's future of the Consequently, the problems, chief of which is company is keen to diversify in the a depressed steel market, lack of funds light of the market's changing for investment and long distances from demands. SELF SUFFICIENCY - LEADING TO A BETTER LIFE FOR ALL IN ZIMBABWE. ports. Nevertheless ZISCOSTEEL is SSC&B.. UNTAS ZISCOSTEEL has been making gearing itself for the second half of the steel in Redcliff since 1948 and has a 1980's.

10 MANUFACTURING

ZIMBABWE'S manufacturing sector Looking at demand, the recovery taken up by the manufacturing sector occupies a central role in the economy Karina employees working on the company's most recent acquisitions in its re- with the increase in domestic demand and has shown great resilience in the equipment programme; two Schlumberger fine spinning frames. The frames, could be curtailed if inflation in late last few years, maintaining its position procured through the protocol agreement between Zimbabwe and France, have 1985 and early 1986 becomes as the largest single contributer to doubled Karina's fine spinning capacity. G.D.P. at around 25 percent. Its unmanageable and the world recovery importance is underlined by its strong drops behind previous predictions. The linkages with the agricultural, mining manufacturing sector, which has shown remarkable resilience and commercial sectors. After an initial increase in output of during the three years of drought, looks to production in 1980/81, the sector maximising the potential of the recovery given that both the supply registered a decline in the volume of and demand constraints mentioned output until the end of 1984 when there above are minimised and thus one were the beginnings of an upturn in the economy, with manufactured exports hopes will quickly reach satisfactory levels of growing strongly at the end of 1984, capacity utilisation which, at mid 1985, remained unsatisfactorily followed by an increased domestic low. demand in early 1985. January to May Not 1985 showed an increase in the volume only has the manufacturing sector seen the of output of 15,8 percent compared to adaption necessary in a the same period in 1984. This increase quickly changing environment, for is being demand-led, but there is some example reduction in operating costs, rationalisation in the use of scarce concern that as the recovery continues financial resources the demand will not be met due to especially the supply-side constraints. foreign component, it has also witnessed a surge There has been a sliding in efforts to beneficiate the local raw devaluation of the Zimbabwe dollar materials and since the formal devaluation at the end penetrate new foreign markets. For of 1982, and this has exasperated the example the export of timber in the form of finished furniture and the problem of the manufacturer's ability penetration of specialised niches of the to purchase, with foreign currency European allocations showing a decrease in real clothing market. The importance of manufacturing levels and not just in actual levels. The to labour is real levels of allocations at the end of unquestioned. The sector is the country's second largest 1984 are estimated at 35 percent of employer, at 17 percent, and is the what they were in an increase of 30 largest contributer to the National percent in the foreign currency Karina allocated to the manufacturing sector Textiles Wage and Salary bill, at 22 percent. Further it has-enormous potential to in the second quota period of 1985 extend its employment capacity, and which, it is hoped, ease the will supply- thus side constraint. ESTABLISHED 26 years ago, Karina tufting loom and the workforce satisfy the aspirations of a young Part of the shortfall in foreign Textiles is the largest producer of totalled 24. population. Over the The sector has taken advantage of currency has been made up through carpeting and knitting yarns in years Karina has built up Zimbabwe. an enviable its regional potential in both the increased access to Commodity reputation for tufted cut- SADCC and PTA areas. The Import Programmers of donor pile, look-pile and sculptured establishment of strong regional countries; and it is estimated that The company began as a small carpeting made from acrylic blends, and its markets will do much to develop the CIP's for 1984 represented 40 percent carpet manufacturing plant in the ranges have included such household names as: sector and although it is built up on of the local market foreign currency Eastern Districts city of Mutare, Beverley Hills, import allocations underlining their catering for a sophisticated market. Albany, Bonacord, Highlights, substitution, it is hoped that it will move into export orientated importance. Imported yarn was used on a 2,74m Elegance and Nature's Harvest. 11 growth. The development of a strongly in changing and expanding the export orientated manufacturing products it puts on its local market. sector would greatly benefit While the local market remains Zimbabwe and the region as a whole. relatively small (8'/? million people) Manufacturers have made given enough jobs, it should prove a concerted efforts to seek markets strong base for market diversification and outside the country. Trade delegations export promotion. The will and visited Tokyo in 1985 and further ability to restructure for the 80s and 90s is within the sector delegations are planned for China and Australia. To date the Export in terms of committed industrialists. Revolving Fund instituted in May The Government, on its part, needs to 1983 has proved extremely beneficial stimulate the sector with its guidelines and incentives which the sector will çtfCÍ COMM^ to the sector and has effectively removed the constraint of imported respond to. inputs for manufactured exports, and Zimbabwe offers a good base for investment is one of the main reasons for the large with its supporting boost in manufactured exports in infrastructure and as a spring board to 1984. Further export incentive the Preferential' ;iTrade Area for schemes are existant and beneficial. Eastern and Southern Africa. A Preferential Trade Agreement with Institutionally, the Small South Africa is another outlet into the Enterprise Development Corporation, potentially big South African market SEDCO, has been established to including Botswana, Lesotho and promote small scale industrial Swaziland. • enterprises, favouring cooperative enterprises outside the main centres of the country. The Zimbabwe Development Bank, ZDB has been formed to cater for the long term financial requirements of the sector while the Industrial Development Corporation has been strengthened to foster state support for those industries in difficulty. What about the future? The future of Zimbabwean manufacturing industry lies in its ability to restructure from an impoft- substitution, local market based Caps premises in Harare.

production to a dynamic export THE orientated but locally expanding manufacturing arm of the Caps sector. Holdings group of companies which THE OXYGEN annually produces Z$20 million worth An extensive study has been carried of pharmaceutical and allied products out into the INDUSTRIES manufacturing sector for the local market and exports within GROUP under the auspices of the Ministry of the SADCC and PTA regions mainly Industry and Technology, CZI and for Government tenders. The Caps Unido, looking into this problem, and Group, a wholly Zimbabwean owned with the expertise of local consultants, company in which the Government from which it is hoped that clear has Answering the needs of the Nation. recently purchased a 42.6 percent industrialisation policy will be Head Office 10th Flooi. Southampton House. P.O. Box 3893. shareholding, has other subsidiaries Harare Telephone 702261 Telex 4343 ZW developed. including suppliers of medical and BARKER, MoCORMAC OX 300 Not only does the sector need to dental equipment, the country's major adapt lines of production that will pharmaceutical wholesaler and enable it to compete with the Far importer, and a chain of retail Eastern countries but it needs to lead pharmacies.

12 COMMERCE

Top quality oak furniture from Zimbabwe's Adam Bede range.

LIKE all other sectors of the economy, are expected to emanate from the commercial activity in 1984 was reduced levels of indirect taxes and the constrained mainly by the adverse liberalization of credit controls in the effects of drought, the world wide country. economic recession and the The Zimbabwe National Chamber Aluminium Industries Limited of Commerce, meanwhile, has been inflationary tendencies in the is making significant inroads in proud to be associated with the economy. Harare Sheraton. Proud to have But the business community is now recruiting members among small, confident that continued economic medium and large scale businessmen designed and delivered two unique extrusion dies within two months to recovery is in sight. 1985 saw a in the rural and urban areas, and this Energoprojkt Engineering Company, favourable agricultural season and has enhanced the organisation's role in for incorporation in domestic consuder demand firmed up influencing the growth and the intricate building scheme. as communal area deliveries of development of commercial activity in agricultural commodities reached the country. Almiris design team specialise in the record levels. Further, the support Progress has also been made in tailoring of alloys and profiles to client given to exporters experiencing a improving the ability of businessmen specification. The shape ofthings today — in the significant increase in the demand for to invest in the rural areas. As the Sheraton — and in the shape of things to come, their commodities is beginning to bear Small Enterprise Development Almin will be there. fruit. Of particular importance is the Corporation is now operational, loans are almin available to the businessmen role of the Preferential Trade Area for aluminium industries limited THE SHAPE MAKERS Eastern and Southern African states in willing invest at the designated growth promoting intra-regional trade and points and district service centres. P.O. Box ST 394 Southerton, Harare, Zimbabwe. Telex 4308 ZW. Tel. 64511 hence the output of the sector. Hence the level of commercial On the domestic market, increases investment in the rural areas is bound in the demand for consumer durables to rise. • 13 ENERGY

IN ORDER to meet the ever MW in Stage 1, which consists of four Stage II erection programme is well open cast coal mine of the Wankie increasing demand for power and the generator units each with 120 MW advanced. Unit 5 is programmed to be Colliery Company. The present need to replace aging power generating capacity and 440 MW in Phase 1 of in commercial service in mid 1986 and estimated coal reserves are expected to plant in Zimbabwe, the Electricity Stage 11 consisting of two 220 MW Unit 6 four months later. last for well over 30 years. Supply Commission has a large generator units. Stage 1 Units No. 4, 3 thermal power plant under and 1 are in commercial operation. Coal with a high ash content with The total estimated cost of Hwange construction at Hwange. Due to boiler technical difficulties otherwise would be of minimal Power Station project is in excess of On completion the power station Unit 2 has been delayed but is expected commercial value is used for firing the ZS800 million most of which is will have a generating capacity of 480 to be in service in June 1986. boilers and is supplied from the nearby financed by international loans.

A Leader in Zimbabwe's Future Make Karina part of your life Karina Textiles (Pvt) Limited Head Office: P O Box 2972 Harare Zimbabwe Telephone 703031 The new thermal power plant under construction at Hwange.

14 EXPORTS

ZIMBABWE'S exports increased in chrome, asbestos, sugar, cotton, iron 1984. The UK, USA and West Trade with African countries, value of $1201 million in 1984, 26 and steel, nickel, maize and copper. Germany were the next most excluding South Africa accounted for percent higher than in 1983. The Manufactured products account for important trading partners accounting just under 15 percent of all exports in country recorded a trade surplus of over a third of export earnings. for about 25 percent of the total 1984, and the major buyers were $251 million which was an all-time As before independence our exports. Member countries of the Mozambique, Botswana, Zambia and high. This was due to increased traditional trade partners have Southern African Development Co¬ Malawi. exports of tobacco, cotton, raw sugar, continued to dominate the flow of ordination Conference (SADCC) and Prospects for agricultural products nickel, tea and coffee. trade, with South Africa the single Preferential Trade Area (PTA) have have improved with the recent good The country's ten leading largest market for Zimbabwean goods, continued to develop into an rains, mineral prices have slowly commodities are gold, tobacco, ferro accounting for 18 percent of exports in important market for Zimbabwe's improved and new markets have been products. found for manufactured items. Fruit and vegetables are one of Affretair's most common exports.

Always there when it counts most

Accident

We take your risks

Head Office for Zimbabwe Branch Office: GENERAL BUILDING TREGER HOUSE STANLEY AVE./ANGWA ST. ABERCORN ST. HARARE BULAWAYO

15 THE PRIVATE SECTOR

ZIMBABWE is a country rich in companies, or indeed, with transport industry. Great efforts are the formal sectorjob employment, and natural resources and with a well- Government itself, over the next two being made to expand the tourist nearly 90 percent of total taxation organised infrastructure to help back years. trade, possibly by the introduction of receipts through corporate and up and develop the manifold Other important sectors of activity package air tours from Europe and individual income tax. opportunities available. It is the include the retail trade, the hotel and elsewhere. At the core of the private sector is a comparative sophistication of this tourist industry and the distribution Worthy of note is that these various sophisticated financial structure infrastructure which perhaps network, and large sectors of the road sectors account for about 80 percent of mirrored on that of the City of London distinguishes Zimbabwe from other on which many of its principles are developing countries. based. after the The private sector still plays a major MULTINATIONAL corporations two-year period and for a At the top of the tree is the Reserve role in economic activities and in the have a clear investment policy to guide period of five years thereafter, the Bank, followed by discount houses operations and development of the them in Zimbabwe. The Foreign remittability of the proceeds of any (bankers to the banks), merchant mining industry which produces the Investment Code, published in such disinvestment will be on terms banks, commercial banks, building minerals in which Zimbabwe abounds, October 1982, defines a foreign and conditions no less favourable than societies, hire purchase companies and those in force at the time of the and which plays a vital part in the investor and more important still, a original the Agricultural Finance Corporation, foreign exchange earnings of the foreign-owned company, as one whose investment." which makes loans available to both country. equity is at least 15 percent owned Legal guarantees and redress are commerical and communal farmers. Agriculture, which is expected to outside the country. provided in the Constitution for The Government has also this year contribute three percent of this year's There are some significant changes property takeovers. Section 16 says formed a Zimbabwe Development forecast five percent growth in G.N.P., to the Growth with Equity document any acquisition has to be proved to be Bank, a State Reinsurance plays a major role in the economy with which was the original investment necessary on grounds such as defence Corporation, and an insurance and sales of the principal crops of tobacco, blueprint. Foreign investors have to public safety. Adequate broking company, Zimbabwe maize, cotton, sugar and coffee, get permission from the Foreign compensation also has to be paid Insurance Brokers, to encourage the expected to exceed $l,5bn this year. Investment Committee for all plans to promptly. development of a local insurance Tobacco alone is expected to set up a new project here. "If the parties cannot agree on the structure. contribute around $400m to experts Also the FIC has to be consulted if amount of compensation, the owner of There is a stock exchange, which the this year, whilst deliveries of maize any shares in a domestic company are property can apply to a court of operates under an Act of Parliament should exceed 2m tonnes out of an to be bought by a foreigner or if any law to determine what is adequate and which deals in the shares of 56 overall 3m tonnes. The majority of assets are to be taken over. So too does compensation." local companies. The Stock Exchange agricultural produce, tobacco in a transfer of assets between foreign Foreign investment proposals are Act has recently been amended to particular, is still growin in the owners in a domestic business need examined to see how they benefit the allow the incorporation of local commercial farming areas, but there authorisation. country. This includes increasing stockbroking firms. The has in the last two years, been a At least 20 percent of any new employment, promoting rural question is often raised as to remarkable increase in production, venture should be owned locally and development, helping exports and how the operations of the private particularly of maize, in the communal shares should be available to the research and development involved. sector fit into the overall operations of Government. In the initial or peasant areas, which will produce Government if requested. A guarantee Foreign investment is especially three-year about 45 percent of this year's total is given on the remittability of welcome in rural areas where the development plan, which proved to be too maize crop. investment income and capital. The people will benefit, on a joint venture ambitious, it was intended that the It is from the private sector that the Government undertakes that after an basis, where it uses local raw materials private sector would make a 40 percent major portion of the manufacturing initial period of two years, this fresh and processed inputs and in projects contribution. A new five-year plan is and industrial production emanates, venture capital can be freely concentrating on labour intensive now being prepared, and it seems methods. from individual concerns or from repatriated, less any dividends or probable that the private sector will be locally incorporated public capital gains which may have been A scheme recently introduced expected to play a major part in the new companies, many of which still have a made in the period. This balance .has to provides for the remission of company plan. It does still appear to be large element of external control. It is be remitted by means of six-year four tax and sales tax for development accepted that progress for the Government policy to encourage the percent Zimbabwe External Bonds. projects in designated growth points. development of Zimbabwe, and with it reduction of this element of foreign Says the code: "Government will There is also provision for a tax the creation of new job opportunities, can best be achieved control, and this is likely to lead to an provide a continuing guarantee holiday, on application, for new through co¬ increasing number of joint ventures, supported by a transfer undertaking enterprises which will provide operation between the public and either with locally controlled by the Reserve Bank if required, that increased employment opportunities. private sectors. 16 THE BANKING SECTOR

THE financial and banking sector has augmented by a sophisticated been one reasons secondary money market The The of the main for the in the form development of the nation's commerce of discount houses, merchant banks Reserve Bank Banking Act and industry. A well established and finance houses under the umbrella commercial banking system is of the Reserve Bank.

AT the heart of Zimbabwe's banking Banks in Zimbabwe are controlled and financial structure lies the central in terms of the Banking Act of 1964 or Reserve Bank. Established in 1964 which, inter alia, specifies banks' in terms of the Reserve Bank Act, the capital structure, liquidity Reserve Bank, in keeping with the requirements and statutory reserve traditional responsibilities of central balances. In terms of the legislation: banks, acts as banker to the Government, to certain statutory bodies and to the country's banking • The commercial banks in and financial institutions; is Zimbabwe are obliged to maintain responsible for the issue of currency; a paid-up capital and unimpaired administers the issue of Government reserve fund of not less than loans and treasury bills and manages $1 000000. the loans' sinking fund. It also manages the clearing house for the commercial banks which keep accounts with the Reserve Bank, • They must invest a minimum of 35 controls the percent of their liabilities to the country's foreign reserves public in prescribed liquid assets. and acts as lender of last resort to the financial institutions. It administers the exchange control legislation and handles Zimbabwe's • They must maintain minimum gold output. reserve balances with the Reserve Although the Reserve Bank is bank which currently amount to charged with all the powers eight percent of demand deposits traditionally vested in the central banks to control and direct official and four percent of time deposits. monetary policy, it is of interest to note that it has rarely had cause to resort to drastic measures in recent years but Apart from legislative control of has chosen rather to rely on moral banking activities in Zimbabwe, the suasions and on interest rate changes banks themselves have entered into an to achieve its desired monetary policy agreement, known as the Register of objections. Co-operation in terms of which the Morover, the commercial banks banks act as a cartel in fixing the have, in compliance with official interest rates which they pay on policy, pursued a credit deposits and the charges which they policy aimed at restricting certain classes of lending levy for the services they provide, for purely consumption purposes in including the rate of interest on favour of lending to the productive advances payable by different sectors of the country. categories of borrowers. 17 finance, lines of credit, short and medium to Standard long term lending, foreign exchange: in short all the advice and Chartered Bank finance required by large organisations be they Zimbabwe based or multi-national. STANDARD Chartered Bank is only To deal effectively in the complex COMMITTED seven years away from its centenary TO money markets of Zimbabwe and the celebrations in Zimbabwe. world, corporate bankers require a Standard established the very first range of skills and knowledge that may bank branch here in 1892, providing a fall outside the experience of a branch commercial and individual banking manager. How will US interest rates ZIMBABWE was base that the springboard for the affect long-term imports? can the sophisticated financial and investment Bank's project management team centre that Zimbabwe has become. reduce a re-equipment programme by Standard Bank, as it was then, $2 million. CONNECTED TO pioneered the Africa hinterland. Now, These and other questions are the the modern Standard Chartered Bank domain of Standard Chartered's Zimbabwe Limited, connected to over Corporate Business Department, 2 000 Standard Chartered offices in established in 1977 and a model of its more than 60 countries, still leads the kind; so much so that the banks in THE WORLD way in banking expertise and other African countries send staff to innovation, equally for David Vambe study it when considering the on his farm and for the biggest establishment of similar services. corporations through its network of Standard Chartered internationally more than 50 branches and agencies has a reputation for helping with covering 23 cities, towns and growth development and its role in Zimbabwe points in Zimbabwe. is no exception. Standard Chartered Bank SADCC, where the Bank has Zimbabwe Limited offers a branches in seven of the nine member thoroughly professional banking countries, and the PTA, where it has service to corporate clients. Together representation in nine of the 14 states, with its associates Standard Chartered with direct correspondent banking Merchant Bank Zimbabwe Limited relationships in the balance of member and Standard Chartered Finance states, are two examples. Zimbabwe Limited, they offer a total Standard Chartered Bank sees itself financial package. playing a developmental role inside The strength of Standard Chartered lies in With Standard Chartered you get an inte High street or branch banking Zimbabwe and within the region, in its specialised local expertise — all over grated banking operation with round-the increased considerably in volume in line with international the world. clock, round-the-world coverage. Beyond banking the first five years of Zimbabwean With over 2 000 offices in 60 countries, that, providing you with every financial ser¬ precepts. Standard Chartered is staffed by people who vice is standard practice, and everything that independence and greater demands are Standard Chartered Bank have a real knowledge of their customers' matters in finance, matters most at Standard made on staff as a result. To enable Zimbabwe Limited has the local conditions and their international Chartered. Get all you need out of one bank, them to handle growing workloads international connections which are under one roof. needs. The result is, when you deal with vital in effectively the Bank has updated its up - Standard Chartered, you deal with people If you're in Zimbabwe to do business building Zimbabwe's two who understand your problems and can sup¬ you're our kind of customer. Contact your computer centre and has established a way trade. Contacts may be arranged ply solutions. Fast. nearest Standard Chartered Bank Manager. modern training centre in Harare within Zimbabwe, or elsewhere in the equipped with latest audio-visual world, and reports prepared for techniques and run by a qualified exporters on the credit-worthiness of Standard Chartered teaching staff. prospective customers. Standard Chartered Bank Zimbabwe Limited It is in the field of corporate Visitors to Zimbabwe assessing Registered Commercial Bank. banking that Standard Chartered is business opportunities may seek acknowledged leader. The Corporate information and advice on progress planning Linking business with Business Department provides a one- their itinerary, guidance on the stop financial service to corporate establishment of new companies or clients that covers financial subsidiaries and letters of management, project and offshore introduction. wider and more efficient operations in this field, Barclays Bank International Executor and Trust Company (Pvt.) Barclays Limited was registered in January Bank 1972, with this name being changed to Barclaytrust in 1981. Barclays has been closely associated BARCLAYS in Zimbabwe traces its with the mining industry for many origin to the Bank of Africa Limited years and is the only bank in Zimbabwe that can realise gold which opened an office in what was bullion. then Salisbury, Southern Rhodesia, in 1895. That bank was taken into the With its Bullion and Chemical Barclays fold in 1912 and operated up Analysis Division laboratory in to 1981 as part of Barclays Bank Harare, Barclays is the only International Limited, formerly commercial bank in the country that Barclays Bank D.C.O. can carry out gold and mineral On June 1, 1981, in keeping with analysis. Group policy, the assets and business Having the most sophisticated of Barclays Bank International equipment, including atomic Limited in Zimbabwe were transferred absorption spectrophotometers, the to a locally incorporated company, laboratory is able to provide a Barclays Bank of Zimbabwe Limited chemical analysis service and which became a wholly owned geochemically analyse soil samples subsidiary of Barclays Bank taken from exclusive prospecting International Limited in Britain. orders. Arrangement for these services On January 1, 1985, Barclays Bank can be made through any branch of the International Limited merged with bank. Barclays Bank PLC in one of the Barclays Marketing Division, based biggest transfer of assets in corporate in Harare, will obtain for the history. Through the merger Barclays manufacturer, importer and exporter Bank of Zimbabwe Limited has direct confidential information on the contact with Barclays branches which financial standing of companies, firms are in excess of 2 900 in the United or individuals in Zimbabwe and Kingdom and their offices totalling overseas, in its truly international some 2 300 spread over 80 countries context, Barclays is particularly well Does throughout the world. equipped to provide this service, and }our bank show you the light? Barclays Bank of Zimbabwe itself by the same token to handle enquiries has a network of 52 offices distributed regarding potential overseas markets over all the main cities and rural towns and sources of supply or demand. Barclays does. To be your and is, Backed by worldwide representation, through its Group's worldwide Zimbabwe's network, placed in a position in the bank is well placed to finance leading bank. guiding light through the international banking of being able to imports and exports, both to With unique clarity of dark as well as the offer more diverse and unrivalled safeguard all the parties concerned, vision. The widest network services both to the individual and to and to ensure immediate payment bright times. To help you the largest of international companies. once the contract is fulfilled. of offices and move mountains. We'll More farsighted In Zimbabwe, the benefits to the recently, Barclays formed a show public have become increasingly Corporate Finance Division based in policies and people. you the light. evident as the bank is able to Harare. This division is able to give incorporate the most modern methods advice on company mergers and in banking and to take advantage of acquisitions, provide acceptance credit information gained from the group's and medium-term finance for worlds worldwide network. Barclays has for commerce and industry, and is well THe Bank [BARCLAYS BANK OF ZIMBABWE LIMITED I a. HOGG Y&R 12813 many years also provided a wide range placed to arrange overseas finance in I Registered Commercial Bank | of services through its trustee branches Euro-currencies and through export in Harare and Bulawayo. To establish credit schemes. As a wholly owned Zimbabwean Zimbabwe Bank, Zimbabwe Banking Corporation Limited has no parent to direct its Banking Corporation overseas operation and this is a distinct advantage as the Bank is free to deal with the overseas correspondents on a THE Zimbabwe Banking Corporation most efficient and marked its 32nd competitive basis, year of existence in the Zimbank Group is accordingly Zimbabwe with the opening of its 32nd able to offer the very finest available branch in Sanyati in October 1983 — rates to exporters on a thus importers and becoming the first commercial day-to-day basis. The Group is active bank to open the number one in in off-shore financing in respect of growth point of the country. both exports from and imports to Since the bank first opened its doors Zimbabwe at more competitive rates with an office in Harare in 1951, it of interst. operates in all the major centres with a ZIMBABWE BANKING CORPORATION KWEKWE 1985 work-force of not less than 1000. Extensions and improvements are an Grindlays on-going exercise and 1984/ 85 saw the Sketch of the new Zimbank Kwekwe building. Bank completion of a new building in Fife Street, Bulawayo. Work also commenced on a new building at GRINDLAYS was first established Kwekwe, modernisation was carried way back in 1828 in India by an The Zimbank officer out in Harare's Angwa Street Branch telephone, all their branches to the Group has of the British Indian Army, Captain Central Computer Centre in Harare. arrangements with over 300 of the and sites are to be purchased in Gutu, Grindlay. In the more than one and a Further Harare, Hwange and Chisumbanje for systems aimed at improving major banks in 80 countries. This half centuries since that time the Bank the efficiency of the Bank's various enables the full range of international the construction of new buildings in has grown through a series of mergers administration services have been business to be these centres. This planned efficiently and and acquisitions until today it is developed, competitively conducted in best development will give Zimbank more especially in the foreign tire represented in forty-two countries area, and several more are planned. interests of the clients. representation throughout the around the world. Its presence in country. Africa extends through Nigeria, Through the Commercial Bank Ghana, Uganda, Kenya, Zambia, network, the services of all subsidiary Zaire and Zimbabwe. and associated companies are Grindlays Bank was a relative available on a country-wide basis. The latecomer to the banking scene in this Zimbank Group comprises Zimbabwe country; its first branch being opened Banking Corporation Limited in 1953. Since that time the bank in (finance company) and Sytrust Zimbabwe has grown both in size and Limited (trust and executor company). status, so that today it represents some The Group is also involved in the 10 percent of the Zimbabwe banking insurance broking field (Willis Faber scene. Syfrets Limited) and the travel and The local services for the bank are freight field through Travel thus backed up not only by its International (Private) Limited and international network of branches but Freight International (Private) also by its group subsidiary company, Limited respectively. Grindlays Bank Limited, a long Zimbank achieved another 'first' by established London merchant bank, becoming the first commercial bank in and also by the specialist departments the country to offer a fully of its head office in London, which computerised service to all its branches provide a wide variety of sophisticated within the country. The installation of financial packages. the powerful NCR 85454-11 Criterion In September 1984 the Australia Computer supported by the Mohawk and New Zealand Banking Group Data Science Series 21 mini¬ acquired the ownership of Grindlays computers, marked the completion of Bank and Grindlays in now thus the Bank's project to link, by reinforced by the resources of a major 20 The banks liaise between Australian bank, with a wide spread of Grindlays Corporate Banking Unit, companies branches throughout Australasia and which is situated in Harare, specialises Bank of Credit and the Reserve Bank in applications in trade for an important presence in the Pacific finance, project finance, and Commerce import licences and other matters Basin. working capital and capital equipment involving foreign currency and foreign investment. Insofar as Grindlays' operations in facilities, and in the negotiation of They also provide Zimbabwe are concerned the bank Eurocurrency loans. This unit, which corporate finance expertise for such THE Bank of Credit and Commerce finances a significant share of the was established in 1979, has rapidly matters as mergers, acquisitions, Group commenced operations in 1972 farming industry, is active in industry developed the reputation of providing capital reconstructions and investment with branches in Abu Dhabi, decisions. In and commerce and provides a a helpful and efficient service, meeting addition, the merchant Luxembourg and London. In a short comprehensive banking service to its the needs of the bank's larger banks play a significant role in the span of 13 years the Bank is now local many personal banking customers. customers, and offering specialised money market, particularly in the banking products and services, in represented on six continents with a efficient allocation of spare funds. network of 386 branches in 70 keeping with the increasingly diverse countries and complex requirements of throughout the world. The Bank of Credit and Commerce international corporations and major Zimbabwe Limited was established in ' » wrUli national enterprises. July 1981 and has branches in Harare, Bulawayo, Kwekwe, Mutare, In the recent past the Corporate Chitungwiza and Highfield. tviismimVi Banking Unit, in liaison with the group's specialised product Merchant departments in London, has arranged sterling acceptance credit lines for the Banks Zimbabwe Agricultural Marketing Authority and other facilities for the FOUR merchant banks operate in National Railways of Zimbabwe, the Zimbabwe, Merchant Bank of Central Electricity Supply Commission and Africa, RAL Merchant Bank, Syfrets the Zimbabwe Air Force. It is by Merchant Bank and Standard providing expertise required to Merchant Bank. arrange lines of this nature that They provide a full range of services Grindlays is playing an increasingly including acceptance credits, active and medium- positive role in the term loans, investment advice, capital development economy of the nation's issues and underwriting, mergers and and infrastructure. amalgamations, company broking and participation bonds. Upon attaining independence the Recently much of their activity has group selected Zimbabwe as the been in arranging lines of credit country in which its training abroad, on a revolving basis, in order operations for Africa should be to get the most favourable payment established. This Training Centre, terms for importers and exporters and which has a record of continuous so stretch meagre currency allocations expansion since its inception, now to the maximum. offers a wide variety of training They have also become heavily courses at all levels in banking involved in the biggest agricultural operations, credit and management. export, tobacco, through short term finance for merchants who now have In addition to providing its full to receive payment for any range of normal banking facilities consignment sold abroad within a Grindlays, through its subsidiary week of it being loaded onto rail company, Grindlays Industrial and wagons. Commercial Finance Limited, is able The merchant banks play an to supply customers in the industrial, extensive role in foreign exchange commercial and agricultural sectors holding and dealing on behalf of with medium term finance for the customers, including providing the acquisition of goods of a capital vital service of forward cover against Grindlay's Bank, Harare. nature. adverse exchange rate fluctuations. Bank of Credit & Commerce, Harare 21 Ifyouwanttodobusiness withforeigners,doitwithfriends

Zimbank has people in six hundred centres around the world and they'll be delighted to help you over the hurdles of doing business or travelling in another country. Regard them as friends. ^W// Jg When you're making plans for an overseas ventrue orjust a business trip, / Mßt contact us fust and oui' people will I be at your service!

ZIMBABWE BANKING CORPORATION LIMITED (Registered Commercial Bank)

It's yourBank

BAIWER MrCORMAC RB 211 FINANCE & THE INSTITUTIONS

defined in the Building Societies Act. This means they have become an Financial important source of financing for the Institutions Government as well as the private sector. The proportion of investments in THESE have probably developed the Government and Local Government most of any of the banking related as at 31st December, 1984, was 8,73 institutions in the last 20 years. The percent against 12,31% at the end of five houses have total assets of 1983. $217,7 m, an increase of 7,7 percent over 1983. Founders Three are subsidiaries of commercial banks. There are also Building Society unregistered finance companies owned by large motor companies. FOUNDERS Building Society is a Hire purchase for vehicles and other wholly owned Zimbabwe concern consumer goods was the main activity dedicated to helping local people build for many years. But in recent years for the future through sound financial lending has taken a turn towards more management. long term business such as leasing, The Society provides a full range of lease-back and factoring. This last is services: raising funds, issuing shares an increasingly popular method of to members, accepting deposits and dealing with debtors. providing prospective home-owners Although there was a slight increase with mortgage bond facilities. in most of the classes of assets, the As Founders' prize-winning biggest was in Government securities advertising campaign illustrates, the which rose by $5,7m over the 1983 Agricultural Marketing Authority total assets as at December 31, 1984 Society is able to offer investment figure of $23, lm. Hire purchase Bills, Bankers Acceptances, were $643,6 m, a decrease of 1,29 opportunities from the cradle to the business rose by $ 18m over $ 126,1 m in grave. 1983. Negotiable Certificates of Deposit, percent over 1983. Mortgage advances Gilts and Semi-Gilts, Bonds and increased by 5,84 percent to a total of Emphasis is placed on attracting Debentures. The discount market has $431,6m. savings from people to enable them to obtain the Discount shown an extremely rapid growth The societies top rate of yield is high-cost items they would since Independence in terms of 11,25 percent for paid up permanent like to own. Attractive interest rates, Houses turnover and efficiency. The shares. Fixed Deposits earn 10 percent calculated on daily balances are Zimbabwe discount market is for 24 months while savings deposits, available on call or on term savings. Paid THERE are two discount houses, probably the most sophisticated of its calculated on the daily balance, Up Permanent Shares, Bard Discount House Limited and kind in free Africa. provide 7,75 percent and have a popularly known as PUPS provide the The Discount Company of Zimbabwe. Combined assets of the two maximum of $50 000 for companies highest yield for those requiring a Discount Houses accept deposits at discount houses at the end of and individuals. regular income and there is no limit to call from commercial and merchant December 1984 were $168 million. The mortgage rate for residential the amount that may be invested. banks, building societies, financial properties over $12000 is 13,25 Dividends are paid regularly every institutions and indirectly from percent and 12,5 percent for loans six months and, although these shares Building are considered a medium term commerce and industry. These call under this amount. Commercial Societies deposits are invested in a range of property mortgage rates are 14,75 investment, they can be redeemed on short dated prime fixed interest percent. six months' notice, at the discretion of securities. THERE are three building Societies in Building sociétés are required to the Society. The discount houses also provide Zimbabwe: Beverley, Founders and hold 15 percent of their liabilities in the Under certain circumstances, loans of and make a market in; Treasury Bills, Central Africa Building Society. The form of prescribed liquid assets, as up to 90 percent of the value of the 23 shares can be obtained, with the shares The POSB has since become as collateral. Zimbabwe's second largest financial Subscription shares permit institution, advising and guiding over investors to save regular monthly 800 000 account holders, at its amounts over an agreed period, while branches throughout the country. Last fixed deposits, where an established year, nearly 90 000 new accounts were sum is invested for a set period, will opened and nearly five million provide ready cash to meet long-term transactions were made at POSB commitments. outlets. In the same year, the Savings Founders is a truly national Bank paid out over $33 000 000 in building society with branches, sub- interest to account holders. branches and agencies in every Riding the crest of Zimbabwe's commercial centre in Zimbabwe. development, the POSB invests It was established in 1954, chiefly millions of dollars annually in further through the enterprise of Sir Albert developing and improving the Robinson. The first branch was in country's infrastructure. The public Harare and the Society, in those days only sees the "face" of the organisation had a capital of $200 000. — the tellers to whom we present our Today its assets exceed $127 million passbook and either deposit or and reserves are in excess of $8,5 withdraw money. million. Nationwide, the Society There are two systems of savings employs more than 300 staff, all of available. The straightforward savings whom benefit from comprehensive account where, with certain training programmes run at the limitations, money can be deposited or Society's expense. withdrawn at any time. Under these This year, Founders has adopted a restrictions an individual can deposit mortgage protection scheme in as much as $ 100 000, but with a limit of conjunction with Southampton $50 000 being invested in any one year, Assurance. and can withdraw $200 every three The scheme provides security for days at ordinary post offices. Up to prospective home owners and their $2 000 can be drawn daily at POSB families at very reasonable rates. The Banking Halls. Anyone wanting to scheme is available for all mortgage withdraw larger sums can do so by holders. prior arrangement. The introduction of a mortgage The second savings system is the protection scheme is an indication of fixed deposit facility. Here the Founders' commitment to Zimbabwe Banking: All types of foreign exchange transactions including depositor must leave his money advice on exchange control problems; import/export finance; financing and its future. the movement of goods through acceptance credits; the handling of untouched for a period of at least 12 commercial letter of Another credit; the negotiation and collection of foreign bills; example of this is the months in order to achieve full interest accepting call or term deposits; short and medium term finance; bridging finance; leasing. Society's long-term sponsorhip of of 10 percent and the interest in all issuing and Underwriting: Public issues; underwriting of junior chess in this country. It has, for POSB issues; preparation of prospectuses; new equity; obtaining stock savings is tax free. Amounts of the past 12 years been the main exchange listings. up to $100000 can be deposited in Corporate Finance: New issues; development capital; supporter of the Founders National negotiation of mergers and take-overs; capital reconstructions. fixed deposit accounts by individuals Scholars Chess Championship, an Management Services: Preparation of economic reports; but with a limit of $50 000 being special economic studies; insurance broking facilities through annual event which this year attracted C.T. Bowring & Associates (Private) Limited. invested in any 12 month period. Investment and Management Advice: ■àiB'IH ! over 200 senior school children. Investment portfolio management and advice; ■ ■■ Since independence the POSB has estate planning; trusts administration; participating ■ opened over 30 000 accounts for mortgage bonds; share transfer secretarial services. Post Office ^ ~ demobilisation personnel and regular RAL MERCHANT BANK LIMITED © I Savings Bank monthly payments are made on these RAL House, 67 Samora Machel Ave., P.O. Box 2786, Harare. Phone 703071. Telex4116 RAL 8NKZW. Charter House, Selborne Ave., Bulawayo. Phone 67147. accounts. The POSB also serves

Directors: G.A. Cerey-Smith (Chairman), M.L. Laws (Managing Director), Sir Keith Acutt K3E, 8. Day, 8. Fcftoe, A.H. Knight, THE Post Office Bank migrant workers accounts held by The Hon. E. EUman-Brown CMG OSE, R.P. lander, D.J. Lewis, O.G. Nicolson, N.F. Oppenheimer. W.K. Smart. Savings commenced operations in January Zimbabwean citizens working in BARKER. McCORMAC RAL 196R 1905, and in the first year a total of 811 South Africa who remit a percentage depositors invested $35 000 and of their monthly earnings to support withdrew $13 000. families still living in Zimbabwe.

24 having been introduced in 1970 and discount houses provide a brisk trade. Trust After a protracted period of Companies relatively low interest rates, the bank rate was increased during 1981 from 4,5 percent to nine percent and the minimum overdraft rate was increased ORGANISATIONS prepared to from 7,5 percent to 13 percent. In fact administer assets in Zimbabwe on many prime borrowers are required to behalf of local residents and principals pay one or two percent above the in other countries are: prevailing minimum. These increases Bar claytrust (Pvt.) Limited are reflected in higher rates obtained in Grindlays Executor and Trust the various forms of security Company Limited investment and the Reserve Bank of N.B.R. Executor and Trust Zimbabwe, as an agent for the Company Limited treasury, has adopted a more flexible Sagit Trust Limited approach to interest rates in order to Syfrets Trust and Executor Limited attract from both the monetary Von Seidel Grindlays Trust banking sector and the institutional Company Limited savings sector, and funds into Bulawayo Board of Executors and Government to assist in the funding of Trust Company Limited budget deficits. Trust and executor management is also undertaken by legal firms and accountants. The Agricultural Finance Corporation Main Securities THE AGRICULTURAL FINANCE THE five most commonly used forms Corporation was established as a of investment in securities are statutory body in 1971 to provide a Treasury Bills, Agricultural loan service tailored to meet the needs Marketing Authority Bills, bankers' of farmers. acceptances, short-dated public sector It is the policy of the Corporation to Business as usual at the POSB. stocks and negotiable certificates of keep repayment terms and loan deposit. conditions as flexible as possible and Treasury bills are tended for once a each application is considered on its At the Harare headquarters savings A stringent training programme, week and usually have a life of 91 days. merits. bank records department, a printed consisting of both courses and on-the- The rates reflect the amount of In considering applications for card system lists every account opened job training, ensures a high efficiency liquidity at the time. loans, the Corporation places and closed since the POSB started its rating among a network which AMA Bills runs for 180 days at a emphasis on the viability of operations. Some accounts are, in involves 700 trained staff. Training fixed price. This is determined after propositions in relation to the scale of time, forgotten by the people who procedures cover every aspect of the consultation with the Reserve Bank operations, the value of the security originally opened them. This happens operation from dealing with people and Treasury. offered and the ability of the farmer to particularly when account holders across the counter, to the use of Bank acceptances, mainly held by cope with the programme planned. allow their balance to fall to a low level sophisticated pieces of machinery. the merchant banks, are sold by the AFC finance may take the form of and it remains gathering interest over Throughout the training process the discount houses at rates above those short, medium and long term loans. the years. Such unclaimed accounts needs of people are emphasised. on treasury bills. Long term loans are available for are kept by the POSB for ten years Liquidity is the overriding factor in capital costs such as the purchase, before being transferred to the Master The POSB has four Banking Halls a country where public sector spending development and improvement of land of the High Court, where it is available in Harare, two in Bulawayo and one in needs often mean a squeeze all round. and water resources, the construction to of original account holders. Last year Gweru. Plans for expansion include a For this reason several types of money buildings, including labour housing the POSB paid $110 780 to the Master Banking Hall in Mutare and one in instruments have been developed for units and other permanent to the High Court in unclaimed Masvingo. A third new office in short-term investments. Negotiable improvements and the purchase of accounts. Bulawayo is also envisaged. certificates of deposit are one of these, livestock for breeding purposes. 25 YOUR BIGGEST CURRENT ASSET COULD BE...

Trade debtors — probably your biggest current asset could be your biggest risk. They're certainly your most vulnerable asset because they're subject to commercial risks outside your control. YOUR BIGGEST You insure your buildings; your plant and machinery. You insure your raw material stocks against damage and yourworkforce against accidents. But so often that high risk area, Trade Debtors, is left uninsured. RISK Now Z.C.I.C. protects your credit sales and minimises credit risks. You can expand business confident in the knowledge that Z.C.I.C. is protecting your most vulnerable asset trade debtors. Contact Z.C.I.C. today and find out how to insure your most vulnerable company asset.

Z.C.I.C. P O Box 1085 Harare Telephone 700931 Telex 4424 ZW ZCIC TAKE THE RISK OUT OF DEBTORS The amount which may be granted for irrigation works, stock watering for purposes other than the purchase facilities, fencing, bush clearing, farm of livestock is normally limited to a buildings, machinery, implements and percentage of the Corporation's livestock. These loans may be granted mortgage value of the property offered on the security of notarial bonds over as security, including permanent moveables and/or reservation of improvements. Loans are redeemable ownership by the Corporation of the by regular equal instalments which livestock or equipment purchased, on provide for the payment of interest and the same lines as hire purchase, a portion of the capital sum so that at together with any other security which the end of the period the loan is fully may be required. repaid. Short term loan facilities are Medium term loans are provided granted for the purchase of fertiliser, EXPANDING ? THEN

LOCK INTO Kurima House, Harare, part of the AFC fold. crop chemicals and fuel, the payment development loans are available to of labour, crop production expenses small scale farmers who hold title or generally, and the purchase of cattle. agreements of lease offormer purchase These loans are repayable within and farms, and also to peasant farmers THE LEADERS periods of up to 24 months by means of or groups of farmers in the communal lands who are DEPOSITORS high priority stop orders over the registered and THE CONFIDENCE SHOWN IN US BY FOREIGN AND LOCAL INVESTORS IS YOUR crops, produce or stock sales. Other experienced producers. SECURITY forms of INSTALMENT CREDIT security may also be required. Because of the specialised nature of FOR THE PURCHASE OF CAPITAL GOODS OF ALL DESCRIPTIONS small scale farming, the loan FACTORING Farming Loans TURN YOUR CREDIT SALES INTO CASH SALES requirements of these farmers are dealt IMPORT FINANCE with OUR EXTERNAL LINE OF CREDIT PROVIDES FINANCE FOR IMPORTATION OF Loans are also available to tenant by separate branches of the AFC, under the Small Farm Credit Scheme CAPITAL EQUIPMENT farmers of proven ability able to make and the Resettlement Credit Scheme. some capital contribution towards a The latter scheme has been established viable farming venture. The your KEY to success Government is prepared to consider by the AFC to provide credit to settlers under the Government resettlement providing guarantees for loans to emergent farmers wishing to purchase programme. farms in the commercial farming Short term loans to all other sector where the applicant cannot meet categories of farmers are at 13 percent the Corporation's normal criteria per annum (prime rate). regarding the minimum capital All loans by the AFC, except those contribution. Viability of the project to communal lahds and resettlement must be established and recommended farmers, are subject to the borrower udc The by the AFC. participating in a group of life Money IL. Both seasonal crop loans and assurance scheme. People UiKER. McCORMAC ODC 844b Registered Financial Institution 27 TRANSPORT

AIR ZIMBABWE has been rated personnel, and specialised test among Africa's top six airlines, based equipment has made possible the on passenger figures for the 26 airlines overhaul, repair and testing of operating from the continent. complex communication, navigation The carrier should further boost its and electrical equipment. Air Zimbabwe overhauls avionics ability to compete with other established airlines that have the latest equipment for SADCC Airlines and equipment, and it is expected that Air assures an ever increasing range of service. Careful attention is Zimbabwe will be hiring new wide- given to airborne bodied aircraft by the middle of 1986. equipment which is the cornerstone of an aircraft's Various aircraft have been brought to safety Zimbabwe for test flights and to during flight. Air Zimbabwe's determine which are the most suitable management team for local requirements. is a combination of the wisdom and experience, innovation and The Viscount has fleet, which development, the old and the young. served the airline so well in the past, is All the managers are team leaders of being replaced, and the airline has just their respective operational areas, taken delivery of a Boeing 737. technically qualified and dedicated. Air Zimbabwe's engineering Every member of the management team division can maintain old and modern has earned his place as an aircraft aircraft. Commercial pressures that engineer and a professional. demand high utilization of aircraft The operation and maintenance of and, in turn, outstanding engineering old and modern aircraft at long distances away from thé suppliers of integrity have become part of the An aerial view of Air Zimbabwe's head office and engineering base. division's daily life. spares has made the provisioning exercise a specialised task. Air With workshops and hanger space The fully equipped Process and rely on fast component overhaul. Zimbabwe's computerised purchasing of 289,100 square feet and aircraft Electroplating Workshop supports all Behind the scenes, engineers and and inventory control ensure that their parking space of 258,250 square feet, Air Zimbabwe's requirements and a technicians overhaul and carefully set stores are stocked to economic and Air Zimbabwe's maintenance base can large part of Zimbabwe industry, the hydraulic, pneumatic and other convenient levels. accommodate one wide-body aircraft, including the motor trade, mining, mechanical components. Air Technical Services is the nerve four Boeing 707s and three small jets at general engineering, printing and Zimbabwe has the capacity to cover centre of the airlines operations which a time. manufacturing sectors. Processes the SADCC regional requirements in include work planning, aircraft The engineering activities include include hard chrome, anodising, this area of work. New hydraulic and routing, technical and production airframe maintenance ranging from cadmium, copper and silver plating pneumatic test centres are under records, technical library, drawing overhaul and repair to extensive major and Durion process. The nickle/ installation to handle components office, design and development, inspection checks for Boeing 707, cadmium installation is nearing from the smallest aircraft to the Boeing information gathering, evaluation and Viscount, F27 and HS748 aircraft; line completion to support the expanded 747. interpretation. It lays the foundation maintenance and turn-around engine overhaul work. Both Rolls-Royce and Pratt and for planned maintenance. The servicing; special inspections and The specialised machinery plant Whitney JT3D engines are department is staffed by very highly modifications of aircraft; technical produces aircraft general spares to disassembled and inspected to the last qualified personnel. training to specialised airframe, engine support the overhaul and maintenance detail. When all repair work has been Manpower development is vital to and avionics courses; engine overhaul operations. In liaison with the process carried out, the engine is reassembled, the engineering division because the of Rolls-Royce Dart engines and shop it provides a formidable service meeting all the clearances and continued strength of the division module repair and test of Pratt and to Zimbabwe industry. In its recently limitations. In the fully equipped depends on the steady build up of Whitney JTD3 engines; specialised expanded workshops more work will engine test centre, the engine is finally qualified Zimbabweans. The National aircraft weighing up to 600 000 lbs; and be done just as soon as the additional checked for operation to the strictest Technical Training School trains versatile non-destructive testing and equipment is installed. aviation standards. apprentices and runs specialist and metallurgical examinations. Engine and airframe overhaul work The availability of highly skilled refresher courses for qualified 28 engineers. Learning, diligence, route expansion programme aimed at On the regional scene, there is a Airways operates Harare/London; innovation and versatility are establishing connections with the twice-weekly Harare-Nairobi service, TAP Air Portugal operates ingrained into the minds of the international world. as well as a service to Gaborone, Lisbon/Luanda/Harare; Air India trainees. On-the-job training officers Air Zimbabwe's international Botswana. operates Bombay/Seychelles/ Harare carefully monitor trainees in the network serves nine foreign There are three services each week and Balkan operates Harare/Lagos/ production workshops. The school destinations. With the London and between Harare and Lusaka, all Tripoli/Sophia. This has resulted in can also accommodate trainees from Frankfurt routes already operating by operated by Boeing 707s. There is also stiff competition for Air Zimbabwe on other countries, especially the SADCC mid-1982, the next stride was made a five-weekly service between Harare the international markets. region. with the establishment of the Athens and Blantyre. Other African carriers operating to The engineering division is route in July of that year linking All four regional routes to Nairobi, Harare include Air Tanzania, Royal approved and recognised by the Harare with the southern approaches Lusaka, Blantyre and Gaborone are Swazi, Linias Aeres de Mozambique, Zimbabwe Department of Civil to Europe. operated in conjunction with the Ethiopian Airways and South African Aviation as well as several other The airline's efforts to link up with national airlines of those countries. Airways. regulatory bodies. The Quality the rest of the world was perhaps more This provides a high frequency which Air Zimbabwe, after the national Assurance Department advises, assists clearly demonstrated by its teaming up in turn adds to passenger convenience. airline of Angola (Deta) is the second and maintains a strict surveillance with the national Australian airline, In addition, the long established largest carrier within the SADCC system to assure that the highest Qantas, in November 1982, to operate routes to Johannesburg and Durban group of countries and is playing a technical standards are upheld. a once-weekly service between Harare continue to operate. major role in the development of air Specialist N.D.T. work including and Sydney via Perth. The addition of wide-body aircraft transportation within the group. process and test activities, will certainly mean that the Apart from its scheduled passenger characterises the airline's Quality The service, on which Air corporation will look closely at the operations, Air Zimbabwe operates Assurance. Zimbabwe shares capacity in both possibility of introducing services to charters for various governments and Air Zimbabwe's hangers, with a directions, provides Australians with a North America. organisations. Its biggest customer for floor space of 131 320 square feet, are regional gateway to Zambia, Malawi, The advent of independence has charters is the Government. With the continuously in use for the minor and Botswana, Kenya and other African brought with it new destinations from combined operations with Air major maintenance of aircraft. All countries, in addition to having Harare operated by other airlines. The Zimbabwe, the national carrier their aircraft are maintained entirely convenient connections to and from following airlines have regular Affretair will be well placed to cater for by Air Zimbabwe engineers in house. Johannesburg. operations to/from Harare: British all bulk cargo requirements on a The maintenance includes refurbish¬ charter and scheduled basis. ment— checking their avionics Traffic growth within Zimbabwe Affretair's over a systems; detailed inspections of technicians check DC855/F itself, particularly on the tourist- structures using N.D.T. methods, orientated route to Kariba, Hwange carrying out heavy repairs including and Victoria Falls, also resulted in a wing splice plates, main landing gear need to increase services. rework, cleat modification, and Inter-city traffic between Harare nacelle overhaul, etc. and Bulawayo, generating mainly With its new equipment and from the business community, has also qualified line engineers, Air Zimbabwe increased and the Viscount service has provides transit, refuelling and had to be placed by Boeing 707 to meet turnround service which is second to the demand. Cargo capacity on all none in the world. These facilities are routes has also increased with the extended to all foreign airlines growth of services provided. operating into Zimbabwe. The fact that the airline continues to receive Affretair compliments for shortest' turnrounds from the foreign airlines shows that their staff uphold the highest AFFRETAIR, Zimbabwe's designated standards. Therefore, Air Zimbabwe, national cargo airline, was and foreign airlines' crews and commissioned in May 1980, shortly passengers should have complete after the country celebrated its confidence in the safety and independence. Although recently airworthiness of every aircraft they formed as Affretair, the company has service. many years experience in its field Since 1980, the year Zimbabwe gained during its operations as Air attained independence, Air Zimbabwe Trans Africa which was formed in has continued to take firm strides in its 1964. 29 While yottire up there...

%c ..were doing it right down here Safety in the air begins with safety on the ground. That means checking, re- checking and then checking again. It's that meticulous attention to detail and dedicated profession¬ alism that keep our ground staff right on top. And in this job, the top is the only place to be.

NBCHAEL Airfreight pallets being hi-loaded aboard Affretair s D.C. 8.

The cargo fleet consists of two The airline has proved to be a boom capacities and outsize cargo than any charter quotes, schedules and all tire DC8/55 Freighters each with a to the Zimbabwean exporter and has other airline operating in, and out, of various rules and regulations that carrying capacity of 39 tonnes. These tailored its operation and rates to Zimbabwe. On top of this the airline govern air freight movements. The aircraft are equipped to carry loads of ensure the viability of our exports in has introduced special rates to assist airline also welcomes enquiries from all descriptions from flowers and fresh world markets. At present the airline certain categories of exports like Zimbabwean exporters for movement produce to machine tools and operates three times a week to Europe textiles, produce and flowers. of exports to any destinations in the industrial equipment spares. two of these flights are to Amsterdam Regular cargo handled by Affretair world as long as the loads are there and Zimbabwean exporters are which have excellent facilities for all includes meat, fruit and fresh look forward to assisting our expending maximum effort into the onward destinations worldwide and vegetables to Gabon, meat to industrialists in opening markets into opening up of new export markets and one flight to London Gatwick with a Switzerland and a vast assortment of the PTA and SADCC blocs. may have already realised the road link to London Heathrow again goods including hunting trophies, importance of delivering goods on with excellent international textiles, crocodile skins and tobacco to time. Although airfreighting is connections. A further once weekly Amsterdam for onward transmission As the national carrier, all export all over the world nominally more expensive than other destination served direct from Harare by our European freight payments are in local currency modes of transport, its cost is Zurich in Switzerland. Furthermore partner, KLM, the Dutch National and there is no later repatriation of effectiveness is realised when all the the airline is Carrier. actively interested in funds — thus ensuring productive other distribution costs between buyer developing new routes to serve usage of hard earned foreign and seller are taken into consideration. Zimbabwe exporters and encourage exchange. So as our exporters move In these "hidden costs" which include all enquiries. Not only are Affretair's Affretair, through its Commercial into new markets, they can be rest speed, reliability, breakages, pilferage rates on these routes competitive with Department, operates a full customer assured that Affretair will be there to and packaging, air freight shows a the other carriers, but it also has the information service to assist clients carry their products to any place, any distinct edge in all respects. capacity of carrying larger freight with queries about rates, destinations, time. 31 Manica Freight Services' siding at Aspindale, Harare.

National Railways of Zimbabwe

DUE to the country's slow recovery and line capacity to meet far greater from the world recession the National tonnages of both local and Railways of Zimbabwe is still international traffic. The electrified operating below its capacity. But it is section of the line from Dabuka to hoped that this situation will improve Harare is fully operational with the as both Zimbabwe and other SADCC last of the 30 electric locomotives countries gradually recover from the delivered in December 1984. three years of drought. The Lochinvar Container Terminal was officially opened on May 24 1985, The tonnage hauled in 1983/84 was and Zimbabwe now stands abreast 14125 000 while the forecast for the with other modern same year was 15 720000 tonnes. Railways when it comes to containerisation. These low traffic forecasts mean that the NRZ will have even greater The training of Botswana personnel capacity to move both local and for the take-over of their line is international traffic on offer. progressing well with their train crews working some trains between The downturn in economic activity Mahalapye and Ramathlabanfa from Sïitomtas» B 390 is particularly frustrating at a time April 30 1984. The complete take-over when the NRZ has the motive power is scheduled for January 1987. 32 TOURISM

TOURISM in Zimbabwe is generally provides 37 percent of visitor arrivals, taken for granted — yet it is one of the and only seven percent of international nation's greatest hidden assets. hotel arrivals. Prior to independence, Although world growth rates in this Zimbabwe was marketed overseas and sector suffered a blow from 1972 visited merely as an appendage to the onwards, with the dramatic rise in oil South African tourist trade — mostly prices, and subsequent world with one or two day excursions to the economic slump, the trend in Victoria Falls. Today over 100 Zimbabwe up to 1975 was most wholesale operators, around the world encouraging and these ip fact were have Zimbabwe in their brochures, often described as "boom years", with offering a wide range of programmes about 244 000 holiday makers arriving that cover all aspects of the country's in the country, and bringing in tourism product. approximately Z$20 million in tourist In tourism jargon, any tourist receipts. destination has to have a certain But arrivals steadily declined as the number of tourist attractions, which liberation war hotted up. By this time are considered as raw materials that occupancy rates in hotels had reached need to be developed and formulated critical proportions too. A number of to suit the tastes of different tourists in hotels had either closed down, or were different markets. Broadly speaking, in the process of doing so. By 1979 these raw materials can be broken occupancy rates had reached a record down into two main components; low of 32 percent, throughout the a) the natural framework, or country. landscape, scenery and climate. With independence in 1980, and the b) the cultural—value — system, or general feeling of optimism prevailing, historical and archaeological, the tourist industry revived as well. sports events, religious buildings Between 1979 and 1982, the average and so on. world growth rate of tourism arrivals was 10 percent; that of Zimbabwe was But these raw materials in themselves are not a phenomenal 89 percent. This can be enough to support a directly attributed to the end of the sound tourist industry — the so-called struggle and the establishment of travel plant, equipment and facilities peace. are needed to put those raw materials Whilst Zimbabwe has visitors into meaningful use by the tourist. So coming from all corners of the world, basically this is what we mean when we there are core areas of origin of refer to the tourism product. visitors. These include UK, North It is common knowledge that America, South Africa, West Zimbabwe boasts one of the natural Germany, Zambia and Japan. wonders of the world — the Victoria Whereas before independence, the Falls. Here, the Zambezi River, the country was almost wholly dependent only major river in Africa to flow upon South African traffic (about 75 eastwards to the Indian Ocean, widens percent of visitor arrivals), dramatic to 1 700 m and plunges into a vertical changes have since taken place. North The bridge over the falls was built so that travellers could feel the spray in their chasm, from 70 m to 108 m in depth. American and Western Europe faces. The force of the falling water sends account for some 19 percent of visitor sprey clouds of over 500 m high, giving arrivals and 66,5 percent of rise to the Tonga name for the Falls — international arrivals at hotels. South 'mosi oa tonya': 'the smoke that Africa on the other hand, now only Overleaf: Typically Kariba — kingfishers perch on a submerged branch. thunders'. Visitors can travel by air, 33 road or rail, where accommodation is Yet today, it has developed into a very varied and of high standards — from popular recreational resort for the — four star hotels, serviced chalets to locals in particular. fully equipped caravan and camping This is Kariba — one of the largest sites. man-made lakes in the world. Here Tourism in Zimbabwe is also based abundant wildlife offers some of the primarily on the abundant natural and best game viewing, and, Kariba town wildlife resources of the country. itself built on steep hills 370 m above About 45 000 square kilometres of the the lake, has seen the rapid country is set aside as parks and development of hotels and harbours of wildlife state. One of the world's major high quality. More interesting and wildlife reserves is of course Hwange. unusual accommodation can be found Within its 14600 square kilometres of on Spurwing and Fothergill Islands. unspoiled wilderness, the protected Kariba is also famous for its Mana wildlife and natural vegetation of Pools National Park, where some of tropical Africa can be found. Hunting the richest bird and animal life can be facilities are provided — an activity found in the world. that is a very important earner of A description of Zimbabwe's tourist foreign currency — approximately $6 attractions would not be complete million a year is earned by hunting without some mention of this alone. Popular photographic and country's magnificent climate. game viewing safaris are also operated. Although lying in the heart of South — All National Parks in the country Central Africa, Zimbabwe enjoys a are situated in the peripheral areas, surprisingly "comfortable" climate — away from the bustle of city life, and as surprising perhaps to our foreign such, are a very popular attraction for visitors who often associate the tropics tourists. The largest of the park with oppressive heat and humidity. complexes is in Nyanga, situated in the Temperatures in Zimbabwe are misty Eastern Highlands area, with its moderated by altitude. Mean monthly high altitudes, coolness, mountain temperatures range from 22° C in streams and trout streams. Nyanga October, to 13°C in July on the high also has the distinction of being the veld, to 30° C and 20°C respectively in location for the highest mountain in the low-lying Zambezi Valley, where Zimbabwe — the mysterious Mount all the maior resorts are to be found. Inyangani (2790 m high). Trout Another aspect of the tourism fishing, pony trekking and hikipg trails product naturally concerns what we in are some of the activities that one can the trade term the superstructure of the engage in. industry. This applies to all amenities Something fairly unknown to the and facilities, for example, hotels of foreign visitor, is the age-old riddle of self-catering accommodation used by Great Zimbabwe — the ruins are said visitors. The tourism superstructure to be the largest single complex of which in Zimbabwe caters for both ruins in Africa, south of the Sahara. domestic and international travellers Lake Kyle, a stones throw away, can match, if not better, that to be provides exceptional lakeland scenery found in any developed country. and has become the ideal place for all Zimbabwe has an accommodation types of water sports, including sector comprising of four and five star, fishing. Around the lake there is hotels, to clean and comfortable three, prolific bird life and other forms of two and one star establishments, and wildlife. The rare white rhino can also not forgetting our rugged and be found in this area. sometimes luxurious Safari Camps. The damming of the Zambezi River Zimbabwe can also boast an air by a concrete wall 128 m high, transportation system that links all the completed in 1961 was undertaken to important domestic destinations, as provide hydro-electric power for the well as án expanding regional and industries in Zimbabwe and Zambia. international network comprising of 34 Hwange National Park — the showpiece of Zimbabwe's rich wildlife heritage. Great Zimbabwe, from which the country takes its name.

Southern and East African countries, market. extended further with the reports to a Deputy Director-General. Western and Eastern Europe, Asia and At the same time all involved in the eastablishment of a very vital and Ultimate authority lies with the Director-General and the Board of Oceania. Added to this is of course tourism sector are determined to avoid highly important professional unit — Zimbabwe's surface transportation the negative sociological, ecological the Research and Planning Division. Directors. The ZTDC currently owns and network with regular train and bus and cultural consequences which None of the above-mentioned operates two hotels — the Ambassador and the A'Zambezi River services, as well as a very popular ferry affect nations that are bent on functions would be adequately and boat industry on Lake Kariba. All promoting mass tourism. Zimbabwe accomplished without the establishment Lodge, and is also in the process of this plus a wide variety of specialist believes that its interests for foreign of a data base which can be used by negotiating the transfer of the Harare Sheraton Hotel and the Harare and general interest ground operators tourists can best be serviced by opting planners in all facets of tourism. In a order to International Conference Centre make Zimbabwe one of the developing for high — quality, medium plan and co-ordinate our nations' most sophisticated and well- approach. sector, the Research and Planning although Sheraton will continue to established tourist destinations. The ZTDC is a parastatal division carries out a number of operate these. External The administration and the co¬ organisation which was established by research projects for use by both representatives of the ZTDC can be found in ordination of the tourist industry is in an amendment to the Development of Government and the industry at large, Johannesburg, the hands of the Ministry of Natural Tourism Act, in 1984. This replaced as well as provide a consultancy service London, Frankfurt and New York, Resources and Tourism, and the newly the former Zimbabwe Tourist Board to cater for the needs of the travel with plans to open further offices in established Zimbabwe Tourist and has given the Corporation widely industry in SADCC and PTA San Fransisco, Paris and Sydney. Development Corporation. The increased powers and responsibilities. countries. Assuming that no major upheavals, Ministry concerns itself with tourism From being merely an agent for the Without this department, there is either politically or economically take policy, legislation, regulation and the promotion and direction of tourism, no doubt at all, we would all soon be place, there is general and widespread licensing and grading of hotels, the organisation became, for the first on the road to killing the goose that agreement that international tourism amenities, operators and guides. time, an active element of the industry, lays the golden egg. will continue to grow, such that by the Tourism policy is based on the involved in the development and So, the Corporation comprises four year 1990 the industry is expected to country's desire to develop an industry running of superstructure projects, as main divisions: Marketing, generate a massive USS 1,000 billion in of very high standards, which will cater well as co-ordinating marketing and Operations, Research and Planning receipts worldwide. The tourism for all Zimbabweans, as well as appeal promotional efforts. In addition, the and Finance. Each division is headed sector, if the industry continues to to the upper end of the international functions of the ZTDC have been by an Assistant Director-General, who grow at around 10 percent per annum, 35 Pine pruning at Charter Forest Estate in the Eastern Districts.

could be handling over 2,000 million this general improvement in the world people by the year 2 000. But how do economy. Latest statistics are already such phenomenal figures affect proving this point — tourist arrivals to Zimbabwe? Since 1984, the world the country increased by 14 percent for economy has been showing signs of the period of January to May, 1985 recovery. This means that people have compared to the same period in 1984. The more disposable income and as It can be seen that the potential of People's Bank numerous surveys have shown, with tourism, with particular reference to One of the biggest financial this fact in mind, people tend to travel Zimbabwe, is boundless. The country achievements you can make in your life is saving up the deposit on your first house. It sounds much more, for one is fortunate in having a product that is example only has impossible at first, but a little money saved each month to read about the massive influx of largely unspoilt and magnificent, will build up and soon be enough for the big things in life. American tourists to Europe this supported by facilities that are of a The POSB is your most convenient way of saving. Every Post Office conducts savings business and your money begins summer as a result of the strong very US high standard. Today, where to earn interest from the first day of deposit. If you are not a dollar, and rapid recover of the US people are always seeking to see and do POSB saver, open an account today at your nearest Post economy, to understand this factor. something different, we can be proud Office and start putting money aside for your dream house. If you have the book, your money is there. It is therefore expected and hoped to tell them that they need to look no that Zimbabwe will also benefit from further than Zimbabwe.

36 converted into several smaller units. Part of the building has been designated a VIP area with strict security arrangements. There is a separate press centre on three floors having direct connections to the VIP area, foyers and main auditorium. The press centre includes The Sheraton a post office, telex room, telephone booths, individual offices and a — Harare's second five star hotel. refreshment bar. The separate administration block can operate on its own throughout the year and it has its own entrance. Conference facilities include typing, printing and duplicating services. Medical facilities include first aid and two examination rooms. Circulation areas include the main entrance hall with reception desk and security counter, foyers on two floors THE largest and most sophisticated surrounding the entire main hall, and conference centre in Africa has just there are several bars and refreshment opened in Harare. Attached to the areas in the foyers. There are direct Sheraton Hotel, the centre has a links to the hotel on three levels. maximum seating capacity of 4500, The centre has put Harare on the although it can be sub-divided to map as an more house four alternative to the separate functions at once. established conference venues in It is Sheraton Hotel and designed in such a way that Arusha, Addis Ababa and Nairobi and large areas can be turned into Conference Centre this country's many famous tourist exhibition space. attractions ought to be a strong selling The hall can be used for live point. Sheraton have said that entertainment, folk shows, indoor holidays can be arranged for delegates sports events, performances, musical to places like Victoria Falls and cinema and theatre as well as for Kariba. conferences and summits. The central point of the hall is the stalls area with 418 seats and 157 seats on the stage for the executive council. The central stalls area is surrounded by the main auditorium seating on galleries and with three seating blocks below the galleries. The total gallery Africa's largest seating capacity is 2414 and each of the — and newest — conference centre. blocks below has a capacity of 316 seats. These blocks can be separated from the main auditorium by sliding and folding acoustic partitions into three functionally independent committee rooms. This allows four completely separate events to take place simultaneously. Three meeting rooms each with 100 to 150 seats are located on the first mezzanine floor. These rooms can be COME TO THE HARARE SHERATON

AND TEE-OFF FOR A FIVE-COURSE FEAST

When you come to the five-star international luxury of Zimbabwe's Harare Sheraton Hotel, be sure to bring your clubs. This is golf land and you'll love it. Golf is so popular in this sunshine country that we have 12 courses in and around the city; five of them literally minutes away from the Sheraton.

Now we didn't build one of Africa's finest hotels just for Harare's wonderful golf, but the game was surely built for the kind of living we had in mind.

/£- -Av

lui Harare Sheraton Hotel Hotels, Inns&Resorts Worldwide The hospitality people of III P.O. Box 3033, Harare, Zimbabwe. Telephone: 729771. Telex: 2621 SHERHA ZW. Reservations: Telephone: 728728. Telex: 2622 SHERES ZW. OR contact ADWRITE SH 214 your Travel Agent, any Sheraton Hotel, or Sheraton Worldwide Reservations. INDUSTRIAL & COMMERCIAL CENTRES

A scenic panorama of the capital centre

climates in the world, Harare is also a July 1984 and April 1985 1 433 The two tobacco auction floors, Harare garden city with flower lined streets, building plans were approved, valued reputed to be among the largest in the spreading trees and lush civic gardens. at nearlv $41 million. world, and many business New buildings are changing the Situated in the Mashonaland organisations connected with the HARARE is one of the most beautiful skyline, such as the 18 storey Old province Harare is the capital of tobacco industry, have their offices cities in Africa, and the most Mutual Centre and the Picadilly Zimbabwe, and is surrounded by the and warehouses in Harare. developed within the Southern Centre which are now under richest farm land in the country. The Some very important gold, chrome African Development Co-ordination construction. The largest and most city also has a sprawling industrial and nickel mines are situated in the Conference (SADCC) region. sophisticated conference centre in area where much of Zimbabwe's Mashonaland area and many of the With one of the most temperate Africa has recently opened. Between manufacturing takes place. big mining houses in the country are 39 based in the capital. It has an industrial base which can All the large banks, building be expanded to accommodate over 100 societies, finance house and insurance industrial firms. The council is companies have their head offices in strengthening its efforts to put the city which, being an important Chitungwiza on the country's commercial and industrial centre, is industrial map by encouraging connected by rail, road and air to all investors, and it has applied to the main centres in Zimbabwe. Government to give priority in the With an ever-growing population, allocation of foreign exchange to firms there is more than adequate labour to wanting to invest in the town and also supply the needs of the commercial to have reduced borrowing rates for and industrial sector. prospective industrialists and for a low Zimbabwe's main international tax on industries. airport is only a 20-minute car ride In 1978 the town had 13 587 houses; from the city centre. now there are 29 000 housing units. There are numerous educational institutions in Harare, including the rapidly expanding University of Bulawayo Zimbabwe, where recognised degrees in the faculties of Arts, Education, Engineering, Medicine, Science, BULAWAYO sits astride the main Veterinary Science and Social Studies communication links with Southern may be taken. Africa, and its geographical location, ín addition, the growing Harare together with the enterprise and labour Polytechnic offers a wide range of of its citizens, has enabled it to become technical and commercial courses. Zimbabwe's second city and the Harare is well served by hospitals provincial capital of Matabeleland, and clinics. The most up-to-date of which stretches from the Victoria Falls these is the multi-million dollar in the north to the South African Parirenyatwa Hospital. border at Beit Bridge in the south. The Motorists travelling from South area contains immense mining, Africa and the southern regions of industrial and commercial potential as Zimbabwe have to pass through well as two of the world's most famous Harare to reach Lake Kariba in the tourist attractions — Hwange north-west and Nyanga in the east. An National Park and the Victoria Falls. excellent road system runs from the Bulaway o is the headquarters of the capital to these holiday resorts. National Railways of Zimbabwe, Within easy reach of Harare are whose lines link with those of several excellent recreational areas. In Botswana, Mozambique, South addition to numerous parks and Africa, Zambia and through Zambia, to botanical gardens within the city's One of the new buildings springing up in Harare. Angola and Zaire. There are very boundaries, there is the world famous large railway workshops. Ewanrigg National Park, some 40km Bulawayo has more than 1800 from the city, where a large collection There are several hotels in Harare, Broadcasting Corporation. industrial and commercial of aloes and cycads can be seen at their from plush five star accommodation, The city has a sub-tropical climate establishments of which more than 700 best between June and August. to simpler ones catering for families. with day temperatures ranging are factories producing in excess of For anglers, there are several well- Harare has cinemas, theatres, the between an average minimum of $700 million worth of goods each year, stocked dams in the area, including the innovative National Gallery, the 21.4°C in winter and an average from the heaviest industrial machinery ever popular Robert Macllwaine Museum, Archives, main and maximum of 20° C in summer. The to table wines. More than 135 000 Recreation Park. There is a small suburban libraries, and all the altitude is 1 500m (4,850 ft.) above sea people of all races are in employment game park and the wide reaches of the amenities of a modern city, the level and the average rainfall in 820mm out of a total population of lake are ideal for yachting, water ski¬ sportsman is amply provided for with (32 inches). approximately 414000. ing and speed boat racing. facilities up to any international About 27km south of Harare in Industrial land, reasonably priced, Golfing enthusiasts have a wide standards available in the city and Chitungwiza, one of the fastest, with our without rail sidings, is at choice of nearly 20 golf-courses round suburbs. Harare is also the growing towns in the country, with a present still available, while abundant the city. headquarters for the Zimbabwe population approaching 235 000. water and electricity is supplemented 40 Part of new low-cost housing development, Bulawayo. Aerial view, city centre, Bulawayo. by an adequate labour supply average sunshine of 8,3 hours daily. Mutare oil pipeline is a further in the city, while there are depots for accompanied by cultural and The average mean temperature is important connection between the two major organisations like the Cotton recreational facilities. 18°C. The area of Bulawayo is cities. This pipeline supplies Marketing Board, the Cold Storage The City of Bulawayo's capital 431,3sqkm, and the valuation of land Zimbabwe with much of its diesel and Commission, the Dairy Marketing budget of $30 million for the year 30 and buildings is $454 million. The non- petrol. Board and the Grain Marketing June 1986 includes domestic rates are Board. $7,2 million for low 3,1 cents in the Industries in Mutare include cost housing. Bulawayo's Housing and dollar on land and 0.85 cents in the The city has an active industrial Mutare Board and Paper Mills, the Community Services are the best in dollar on buildings, payable half- representative body in the form of the country's only newsprint producer, Zimbabwe. yearly. The value of building plans Manicaland Chamber of Industries, Pilkington Glass Zimbabwe, the Bulawayo airport, with its years while the thriving commercial sector is recently approved for the two ended June country's only manufacturer of safety extended runway and 30 1985 was $26,4 million. well represented by the Mutare terminal glass for motor vehicles and the facilities, and with a new terminal Chamber of Commerce. building industry; BL (Zimbabwe), Being an important railhead the building in the planning stage dealt where Leyland, Land Rover, Nissan with 15 653 passengers and 1027 Mutare National Railways of Zimbabwe and Mitsubishi vehicles are assembled; tonnes of freight in the year operates a large railway workshop in to Karina Textiles, where the country's September 1984. the city. carpets and knitting yarns are In addition to the normal MUTARE Manicaland is one of Zimbabwe's capital of Zimbabwe's manufactured; the Wattle Company, educational facilities, there are two beautiful Manicaland most important agricultural areas. province is the source of wattle extract for use in Teachers' Colleges, a. Technical country's third city. Nearly all of the country's timber and leather tanning and also a major College offering a wide variety of It is the commercial and industrial coffee, all of its tea and much of its producer of gum poles and pine wood; courses, both part-time and full-time, centre of a province that includes the deciduous fruit are grown in the Border Timbers, one of the country's and a School of Mines. Two ranges, province. large superb mountain the largest wood producers and the Other important crops include: hospitals contain training facilities in potentially wealthy Sabi Valley and Zimbabwe Bata Shoe Company which the medical field. There is a wide maize, cotton, burley and Virginia many other parts of commercial or has recently started choice of tourist interest. operations in entertainment, both cultural Mutare. tobacco, groundnuts, pecan and and sporting, and many important Mutare is linked by major highways macadamia nuts, wheat, sisal, tourist attractions. with Harare, Masvingo, Nyanga, In addition the city's industrial area bananas, sugarj potatoes, Kiwi fruit, Bulawayo is situated at an altitude Rusape, Chipinge and Chamanimani, also houses food processing factories market vegetables, and, fast becoming of 1 356 m above sea level, and the as well as with the important like Lemco and National Foods. The an important product, proteas — average annual rainfall is 601 mm with Mozambican port of Beira. The Beira- Tanganda Tea Company has a factory grown by farmers in Nyanga, 41 The Australia & New Zealand Banking Group with its international finance and related services, each with over acquisition of the UK based Grindlays Bank, has 150 years experience. established a formidable presence on the international This new force is staffed with experienced professionals banking scene with group assets of USD30 billion. who can handle all your worldwide banking needs, An asset base that spans the globe with over 1,660 whether they be cross border or local. branches and offices in 45 countries, placing the ANZ So, if you're looking for a global banking group which Group in the ideal position to assist corporations with is highly respected in international banking circles with their particular domestic and international finance the strength, flexibility and professionalism to handle your requirements. banking requirements, you can't go past ANZ and Both ANZ and Grindlays have extensive experience in Grindlays. a «« Banking Group ANZ andGrindlavs. A new force in InternationalBanking has been created.

The new force inInternational Banking. Grindlays Bank p.I.e., General Manager's Office, 1st Floor, Ottoman House, Grindlays Bank pic Minerva House, 59 Samora Machel Ave., P.O. Box 300, Harare, Zimbabwe. Montague Close, London SEI 9DH. Tel: 795871. Telex.: 4361/4739 GBLZW Registered Commercial Bank Tel: 01-626 0545 Tx: 885043/5 GRNDLY G -Branches also in: Harare, Bulawayo, Gweru, Kwekwe, Mutare.-

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Dairy and the Dabuka Marshalling Yards, and beef cattle, as well as pigs and the largest in Central Africa, provides sheep, are reared in several parts of the the biggest container handling Province. facilities in the country, the electrified railway line between Dabuka and Tourism plays a large role in the Harare, the daily air services to all economic and social life of the city of centres, Mutare and the rest of Manicaland. major the good road network and the satellite station under Several well-known beauty and construction interest put Gweru at the hub of spots include: the Hönde Zimbabwe's communications Valley, (turn-off south of Juliasdale); network. the Burma Valley (south of the Gweru employs more than 26000 Vumba); the Sabi Valley, Vumba, people in industries producing items Chimanimani and Nyanga; Lake such as clothing, shoes, glass products, Lesapi (near Rusape) where metal alloys, pre-stressed concrete caravanning, camping and fishing facilities products, dairy products, abrasives exist; Lake Alexander (north and batteries. of Mutare) the delight of fishermen The Midlands is the country's major and sailing experts. beef producing province and Gweru A recent addition to the tourist has the largest cattle sales in Central facilities in Mutare is the Cecil Kop Africa. Nature Reserve, on the city's northern Extensive mining, particularly of boundary. chrome, is carried out in the Midlands as well as limestone, quartz, nickel, Here the Manicaland branch of the gold, asbestos, lithium, barytes, Wildlife Society has established a altitude of 1 4000 m above sea level with tungsten and silica sand. unique flora and fauna conservation Gweru crisp winters, warm summers and Gweru offers industrial land, which area, where wild game can an average rainfall of 690 mm. be observed may be serviced with a rail siding, at in one area Situated on the main rail line by car and in another at competitive prices, abundant close hand while visitors sit on a dam A CITY with a population of 80 000, between Harare and Bulawayo, Gweru electricity and an adequate labour wall is a principal rail junction with lines enjoying refreshments. capital of the Midlands and supply. Water is supplied from three Zimbabwe's third city, Gweru has an radiating to Shurugwi and Masvingo Wildlife include elephant, white dams of large capacities. A $21 m water rhino, wildebeest, eland, ostrich, augmentation scheme which will Waterhuck, zebra, warthog, kudu, ensure that the city has an adequate bushbuck, blue and grey duiker, water supply for many years to come, giraffe, tsessebe, impala, sable, is well advanced. monkeys as well as varied duck and Other recent major developments in bird life. Within the reserve is a large the city include construction of a Posts mountain forest area. and Telecommunications Corporation to Mutare has well-serviced training college, extensions the industrial, General Hospital, construction of commercial and residential areas. The maize silos, installation of an air- city is on the ESC electricity grid and separation plant, up-grading of one of plentiful water supplies are available. the suburbs' sewer systems, all A new water supply dam has recently been totalling several hundred million completed at Smallbridge, on the dollars. Plans are also in hand to Odzani River upstream from Lake construct a government multi-storey Alexander, which has a capacity of office block, a large Post Office, a about two and a half times that of Lake Alexander. shopping mall and the country's first aircraft park. Provision of low-cost The Mutare Municipality is houses is an on-going priority exercise. progressing with the provision of low- Gweru is an education centre with cost, high-density housing in the two teachers' colleges, a Government Dangamvura suburb, and the whole Technical College, eight high schools area has enormous potential for and numerous primary and nursery further development and productivity. schools. Medical services are provided 43 with general, maternity and infectious diseases hospitals. There are also child Kwekwe welfare clinics and centres for the aged, physically and mentally handicapped. WITH wide streets, well-laid out civic Places of interest include the Civic gardens, Kwekwe is a busy commercial Theatre, Civic Gardens, with its centre, serving the steel and mining notable rose beds, Antelope Game industry. Park, Natalie Ruins and the Midlands The town is also surrounded by Museum which is the country's official mixed farms and extensive ranches. It national army and aviation museum. lies midway between Harare and Bulawayo, and is well served by rail Masvingo and road, and the Municipal airstrip is equipped with a tarred runway. Kwekwe has the most up to date MASVINGO is an attractive town, the technical college in the country. oldest in the country. It is the nearest The town is one of the most commercial centre to some of the finest significant power consuming areas in tourist attractions, the main one being Zimbabwe, with nearly one quarter of the historic Great Zimbabwe. all the electrical energy consumed in the area. Lake Kyle, which is not far from the In addition to a number of town centre is the second largest engineering and other operations expanse water of in Zimbabwe. ancillary to the steel industry Kwekwe Beautiful lakeland scenery, an is also the home of a large chrome abundance of wildlife, birds and smelting plant, and a chemical factory unspoilt scenery make it a popular which produces the country's resort for campers, caravanners, and nitrogenous fertilizer. those who want to take advantage of At present lake Sebakwe, which the attractive permanent accommodation provides the town with water, is being provided by the National Parks. enlarged and when the operation is finished, it will be the fifth biggest Masvingo is a short three-hour stretch of water in the country. drive from the capital, and is connected by regular flights and good roads to the main centres. Kadoma Farming, both commercial and communal is an important feature of ESTABLISHED in 1906 along the rail the Victoria Province of which link between Harare and Bulawayo, Masvingo is the administrative centre. Kadoma has grown to a town of about loiTK)rrow^justadayaway. 77000 people in the heart of a rich For most of us, tomorrow dawns all too soon. It's Significant achievements in rural mining and agricultural area. Situated 141 km upon us almost before we know it. But CABS — development have taken place in the south of the capital at an altitude of 1 163 m above sea Zimbabwe's biggest building society — is there to last three years in the region, and the help you prepare for this big, bold challenge of the main crops are maize, wheat, level, Kadoma has Zimbabwe's only cheese future. So that when tomorrow comes you can face sorghums and soya beans, with smaller factory — producing some 6,5 tonnes of cheese it with complete confidence. amounts of tobacco and cotton. daily — and the Victoria Province is also an country's only tissue paper factory Because you'll have a lot of living to do. important region for cattle. which cost about $5 million and which re-cycles waste paper. Physically the land surrounding The name Kadoma is derived from Masvingo is semi-open savannah the Shona word 'kusadoma', which country and the altitude of the town is means "don't speak about it because it We have 1 082 above sea level with an average of is inhabited by spirits" referring to a your best interests at heart. 810 mm. The population of the town is nearby hill where a battle between 25 000. clans took place many decades ago.

44 There are several large mines — It is close to Zimbabwe's largest investors to be bold and wise and come Africa. town mainly gold mines — operating within copper mining district and there are to do business in Chinhoyi because the The is 518m above sea level a 25 km radius of the town. also gold mines near the town. town has the necessary infrastructure. and has an average rainfall of 657mm. Kadoma is also in the centre of A $3 million secondary school, the Lying in the Zambezi valley, Kariba Zimbabwe's cotton industry and the Lomagundi College, opened its doors experiences higher daily temperatures centre of cotton research in the to pupils early in 1983. This modern Kariba than most of the country. country. It is the site of a large spinning facility is five km for Chinhoyi. mill. Linked by rail with Harare, A large, modern and very Chinhoyi is 1 100 m above sea level and KARIBA, with a population of about Hwange comfortable training and seminar has an average annual rainfall of 15 000, is picturesquely situated above centre has recently been set up in the 850 mm. The biggest employer in the the dam wall which harnesses the HWANGE in the north east corner of town in what was formerly a motel. town is the Cold Storage Commission mightly Zambezi River and forms one the country on the road to the Victoria The town council has embarked on abattoir. of the largest man-made lakes in the Falls is rapidly becoming a boom a $8 million water augmentation There are ample industrial and world. town. Almost its entire population is scheme to be completed by 1985 which residential stands available in the Established in 1957 when the 128m with the Wankie Colliery Company, will serve expanded industries in the centre, which has two high density high dam wall was being built, Kariba Zimbabwe's only coal producer, area. suburbs and the usual amenities for is a mecca for Zimbabwean and form or another with the Wankie

The locomotive used when the queen mother toured the country, now displayed Kwekwe's growing central business district. outside Kadoma.

social and recreational activities. International tourists — it boasts six Colliery Company, Zimbabwe's only coal Chinhoyi Tourist features of Chinhoyi are the luxurious hotels — who flock to the producer. Chinhoyi Caves which are made up of lake for fishing, boating, water ski-ing Recent large scale expansion of the the Sleeping Pool which may be and game viewing. opencast section of the colliery has taken CHINHOYI, with a population of approached by either of the sloping The large hydro-electric power place in order to fuel the 25 000, is situated on the road link with passages from ground level — one station generates most of the country's Electricity Supply Commission's new Zambia about 120 km west of Harare. known as the Dark Cave and the other power. thermal power station nearby. The The town, with full municipal the Light Cave. The known depth of The lake is intensively fished for formal completion date for the new status, has been called "the bread the water is 91 m but its actual depth Kapenta and other species of fish $128m project is planned for early basket of Zimbabwe" because most of has not been fathomed and still including Bream and Tiger. Kariba's 1986 although some of the units have remains a shores are the country's wheat is grown — along challenge to sea-divers. planted to bananas on a already come on stream. with maize and other agricultural The town's motto is "with courage wide scale, making it one of the largest This project resulted in a big influx and wisdom" a direct of workers and contractors, produce — in the Lomagundi area. appeal to producers of this fruit in Southern 45 GokwePG 948Tel KadomaPG 2958Tel AutoglassPG Bulawayo 60439Tel MasvingoPG 2921Tel imber.

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m Life RoofingFlooring8-PG Harare 64729/64720Tel 66771/66775/6/7/8 exoticand„idigenous Timber timbers.treated

1■ decorative shopfitting. farming without# without IunQ.I■.,Unnaiurcllindustrialandcommercial furnitureandbuildingforboards, buildtng.boatcaravanandioinery. industries. Wired (hardwoods m.ntng • • and cabinet and • making, Glazing Plastic &Door softwoods) • Obscured Autoglass Fittings Plywood Mining inconceivable AeroliteFibreglassMirrorsPutty• SheetClearGeorgianArchitectural• Tinted&ClearLaminatedArmourplate• FittingWindscreen&FixturesPlumbing• ChipboardBlockboardSheetingAsbestos• HardboardFlooringDoorsVeneers• SawnHardwoodsSleepers• LayingFloorTrussesRoofHydronailSoftwoods• CementHardwarePaintLaminates• FramesWindow surrounded by communal lands and settlement area. It is the centre of an important agricultural area and a distributing point for some 50 percent of the population of Manicaland, from CHIREDZI, with a population of Nyanga, Makoni, Tanda, Weya and 10300, is in the heart of the rich the Chinyika Land Settlement to the lowveld and is the administrative North and East, from Eagles Nest, centre for the important agricultural Headlands and Nyazura on the main endeavours in the region. Harare — Mutare road and rail, This area is where Zimbabwe's Wedza, Buhera, Chiduku, Sabi North sugar cane is grown, and it is also one and Makune to the South and West. of the most important districts for The potential for Rusape as a game ranching, which is an important growth point is far-reaching. The main tourist attraction. tourist road to Nyanga branches off at Chiredzi grew following the massive Rusape. agricultural development of the early The town itself has the nucleus of a 60's. 13 km from the town, and the rail light industrial complex where link is between Mbizi station on the activities such as light engineering, Maputo line and Chiredzi. timber processing, and agricultural It's always warm in Chiredzi and the storage and a large canning factory. temperature averages are 37°C in the Rusape has a good climate with winter, with an average rainfall of average rainfall 765 mm and is 1 430m Chiredzi rural council offices. 430 mm per annum. above sea level. There is plenty of water and power necessitating new housing estates and restaurants and an abundance of serving the town which has a a network of new road.s sporting and recreational facilities, Rusape population of more than 10 000. Industrial and commercial Hwange itself is a pleasant, well- including an Olympic standard soccer developed town with modern offices stadium and a golf course. development is encouraged and special and shops and all the amenities RUSAPE is the main town in the rates abatement are offered to any new Makoni Rural Council Area which is required for a thriving mining enterprise. community, including a popular hotel Chegutu and an 18-hole golf course. Chiredzi shopping centre

Redcliff SITUATED about 100 km south-west of Harare on the main road and rail link between the capital and NAMED after a mountain of rich iron Bulawayo; Chegutu has a population ore in the vicinity. Redcliff is the centre of about 20000. of the country's iron and steel industry It is the site of one of the largest being the home of the Zimbabwe Iron textile mills in the country and the centre an and Steel Corporation — ZISCO. of important agricultural Situated almost exactly halfway area. The town also has a Cotton between Bulawayo and Harare at an Marketing Board centre. altitude of 1 220m, the fully-fledged A recent development which has municipality has a population of about changed this town's skyline is the 25 000, nearly a quarter of whom are construction of a huge storage facility employed by ZISCO. by the Grain Marketing Board. The steelworks are located about The 16 silos — 12 for large grains 3 km from the town centre behind a and four for small grains — have a range of hills and the town retains a total capacity of 68 000 tonnes and pristine quality quite startlingly were completed in 1984. contrasted to the vast, sprawling At an altitude of 1 189 m above sea steelworks. level, Chegutu has a pleasant climate Redcliff has a luxurious hotel, two and an average rainfall of 729 mm.

47 Mashonaland Central Province, and Marondera the service centre for the diversified farming and mining activities of the region. MARONDERA, 71km east of Harare The town has one of the most on the rail and road routes to Mutare modern rural hospitals in the country, and Mozambique, has been made the and is linked by road and rail to provincial capital of Mashonaland Harare and Shamva. there are a East Province. number of light industries geared to Recent additions to the town's meet the mining and agricultural needs manufacturing and service industries of the district. Recent developments have been a new tannery which include a $7 million cotton ginnery. complements the Cold Storage There are a number of surveyed Commission abattoir, a brewery, a residential, commercial and industrial factory making school furniture and stands available for development. Bindura has a mild climate and is equipment, one making school and 1 100m above sea level and the office equipment, as well as business average machine and stationery outlets. rainfall is 831 mm. The population of the town is 18 Plans are underway to build a 200. public service training centre in the town. One thousand new houses are Norton being built in Nyameni suburb. Its altitude is 1 662m above sea level NORTON, just 46km from Harare on and, being on the main watershed, it the road to has a remarkably good climate. The Bulawayo, has the town's population is estimated at potential to become-a key industrial area. As it about 32 000. is, the town serves a Water is supplied by two high sophisticated commercial farming district, and with abundant water, capacity dams and a third dam is nearing completion which will have power and labour, this town is poised to become an twice the capacity of the other two put important centre for together. There is no restriction on the manufacturing. The joint venture between one of amount of electrical power that can be the used by existing and developing largest manufacturers of chewing industries. gum, Dandy, and two Zimbabwean businessmen is now Marondera, which was accorded producing chewing gum and full Municipal status on July 1,1974, is earning the country now attracting several Government foreign exchange. The offices with its new provincial population of the town is 12 400 and the climate is mild. The district standing. around Norton produces a variety of crops as well as beef and milk. Bindura

THE 50 minute drive from Harare to Bindura 86 km away passes through some of the most productive farm land in Zimbabwe. Many of the commercial farmers in the region grow two crops a year, irrigating winter produce from the Spraying of a potatoe crop glorious Mazowe River. This small but attractive, and in the Nyanga district, rapidly expanding town is the using two-stroke power sprays. administrative capital of the

48 Africa,forAfrica,

Ofall the world's steelworks, onlyZ/SCOSTEEL has the real advantage ofbeingbuilt right next to naturaldeposits oftwo ofits main raw materials.vast Nowhere else on earth is there such a occurrence of iron ore and lime-stone deposits.unique Indeed, local legend has it that the are Redcliff a special 'gift to the world'. Hills With this abundance ofraw materials,ZISCOSTEEL takes pride in producing top competitive prices. In fact, quality steel at established the largest integratedZISCOSTEELsteelworksharte Black Africa, with the capacity to produce in million tonnes ofliquid steel each year. one

ZISCOSTEEL —Africatop qualityand thesteelworldfor PrivateRedcliff.Bag2,

TheZimbabwe Iron andSteelCompanyLimited, 'Gifttothe '