Business
Seed Co pushes new drought resistant seed on Zim market – NewsDay
During the period under review, SCL introduced several hybrid seeds into Zimbabwe.
HYBRID seed technology firm, Seed Co Limited says it has introduced a range of climate resistant seed varieties to tackle climate change-induced droughts.
Commenting in the firm’s annual report for the year ended March 31 2023, Seed Co group chief executive officer Morgan Nzwere said research and development (R& D) would be vital for the business.
“To this end, our R&D, which anchors our ESG innovation pillar, is designed to churn out seed solutions that contribute to creating a sustainable and profitable agricultural landscape that addresses climate challenges, supports farmers, and provides sustenance for both people and livestock,” he said.
“This involves offering improved seed varieties, along with agronomic training and support to ensure the efficient use of arable land and farming resources.
“The group continues to renew its product pipeline in line with climate change. Our goal is to make both small- and large-scale farming ventures profitable while positively impacting vital economic value chains,” Nzwere added.
He said Seed Co’s plan was to introduce a minimum of five new and enhanced maize hybrid varieties annually, along with at least one improved variety from other crop categories.
During the period under review, SCL introduced several hybrid seeds into Zimbabwe.
These include three maize hybrids – SC 307, SC 449 and SC 561.
The firm also introduced one white sorghum hybrid, the SC XH101, and two cowpea varieties.
Drought resistant crop varieties will be vital in helping Zimbabwe tackle ever growing food security threats due to recurring droughts.
In its August food security report, the United States Agency for International Development (USAid said there were heightened chances for an El Niño induced drought during the 2023/2024 agricultural season.
Nzwere said in terms of regional hybrid seeds, nine maize and seven soya bean varieties were successfully listed on the Southern African Development Community (Sadc) catalogue, while five maize and three soya bean varieties successfully listed on the Common Market for Eastern and Southern Africa (Comesa) catalogue.
Seed Co chairperson David Long said in a commentary to the financial statements that: “Our R&D function continues to showcase pragmatic thought leadership and industry influence by introducing a range of climate-smart seed varieties.
“The breeding thrust for the business is designed to stay abreast of the ever-shifting dynamics of climate change as well as emerging pests and diseases.
“This has helped the business to remain on top of addressing seed solutions needs of our farmers under a proactively managed product life cycle plan.
“In addition, we continue to respond to the call by farmers for new crop species, like rice, potato, hybrid sorghum and vegetable seeds, and at the same time diversifying our revenue streams across multiple crop species,” Long added.
According to Seed Co, owing to these climate smart strategies, the group registered a profit after tax (PAT) of ZW$15,8 billion during the period under review, overturning a loss of ZW$2,2 billion in the comparative 2022 period.
The PAT was driven by a 14% volume increase, 56% revenue growth, increased value capturing through more US dollar sales, price adjustments in line with inflation, and better margins in inflation adjusted terms of 41% compared to 33% in 2022.
Revenue rose to ZW$42,65 billion during the period from a 2022 comparative of ZW$27,25 billion.
“The 213% inflationary jump in operating expenses to ZW$18,4 billion was in line with the weakening ZWL ( Zimbabwe dollar) that forced cost of living catch up adjustments in labour costs as well as inflation-forward pricing by suppliers chasing alternative market exchange rates,” Nzwere said.
The Zimbabwe dollar traded at US$1:ZW$5 739,79 at the end of June and US$1:ZW$370,96 on June 30 2022.
Related Topics
Business
Indian Billionaire Harpal Randhawa, 22-Year-Old Son Killed In Zimbabwe Plane Crash – NDTV
<!–
The incident occurred when their private plane crashed near a diamond mine
Indian billionaire and mining tycoon Harpal Randhawa and his 22-year-old son Amer were among six people who died in a plane crash in Zimbabwe on September 29, as per a PTI report. The tragic incident occurred when their private plane crashed near a diamond mine in southwestern Zimbabwe after experiencing a technical fault
Notably, Harpal Randhawa is the owner of RioZim, a diversified mining company producing gold and coal as well as refining nickel and copper. Mr Randhawa also founded the $4-billion private equity business GEM Holdings.
The mining tycoon and his son were traveling in a Cessna 206 aircraft, privately owned by RioZim. They were en route from Harare to the Murowa diamond mine when the accident happened. The single-engined aircraft crashed near the Murowa Diamonds mine, which is partly owned by RioZim. All passengers and crew onboard died in the accident.
Filmmaker Hopewell Chinono, a friend of Mr Randhawa, condoled his death on X and wrote, ”I am deeply saddened with the passing of Harpal Randhawa, the owner of Rio Zim who died in a plane crash in Zvishavane. 5 other people including his son who was also a pilot, but a passenger on this flight also died in the crash.”
Here’s the tweet:
I am deeply saddened with the passing of Harpal Randhawa, the owner of Rio Zim who died today in a plane crash in Zvishavane.
5 other people including his son who was also a pilot, but a passenger on this flight also died in the crash.
I first met Harpal in 2017 through a… pic.twitter.com/A0AGOaR3sw
— Hopewell Chin’ono (@daddyhope) September 29, 2023
”He was very generous with life advice, and very humble for the wealthy man that he was. Through him, I met many people in the business, diplomatic, and political worlds. My thoughts are with his wife, family, friends, and the Rio Zim community. Rest in Peace, your works and love for Zimbabwe will be your lasting legacy,” he added.
Mr Chinono also put up a tweet informing of the memorial service for the father-son duo.
The family of Harpal Randhawa who died with his son Amer on Friday in a plane crash, respectfully invite all his friends and associates to celebrate his life and that of his son Amer at a memorial service at Raintree on Wednesday the 4th of October, 2023.
Arrival time is 3PM.… pic.twitter.com/cWF0kPhe7G
— Hopewell Chin’ono (@daddyhope) October 1, 2023
Meanwhile, the local community and law enforcement agencies are working together to manage the aftermath of the plane crash.
Business
Indian Billionaire Harpal Randhawa, 22-Year-Old Son Killed In Zimbabwe Plane Crash – NDTV
<!–
The incident occurred when their private plane crashed near a diamond mine
Indian billionaire and mining tycoon Harpal Randhawa and his 22-year-old son Amer were among six people who died in a plane crash in Zimbabwe on September 29, as per a PTI report. The tragic incident occurred when their private plane crashed near a diamond mine in southwestern Zimbabwe after experiencing a technical fault
Notably, Harpal Randhawa is the owner of RioZim, a diversified mining company producing gold and coal as well as refining nickel and copper. Mr Randhawa also founded the $4-billion private equity business GEM Holdings.
The mining tycoon and his son were traveling in a Cessna 206 aircraft, privately owned by RioZim. They were en route from Harare to the Murowa diamond mine when the accident happened. The single-engined aircraft crashed near the Murowa Diamonds mine, which is partly owned by RioZim. All passengers and crew onboard died in the accident.
Filmmaker Hopewell Chinono, a friend of Mr Randhawa, condoled his death on X and wrote, ”I am deeply saddened with the passing of Harpal Randhawa, the owner of Rio Zim who died in a plane crash in Zvishavane. 5 other people including his son who was also a pilot, but a passenger on this flight also died in the crash.”
Here’s the tweet:
I am deeply saddened with the passing of Harpal Randhawa, the owner of Rio Zim who died today in a plane crash in Zvishavane.
5 other people including his son who was also a pilot, but a passenger on this flight also died in the crash.
I first met Harpal in 2017 through a… pic.twitter.com/A0AGOaR3sw
— Hopewell Chin’ono (@daddyhope) September 29, 2023
”He was very generous with life advice, and very humble for the wealthy man that he was. Through him, I met many people in the business, diplomatic, and political worlds. My thoughts are with his wife, family, friends, and the Rio Zim community. Rest in Peace, your works and love for Zimbabwe will be your lasting legacy,” he added.
Mr Chinono also put up a tweet informing of the memorial service for the father-son duo.
The family of Harpal Randhawa who died with his son Amer on Friday in a plane crash, respectfully invite all his friends and associates to celebrate his life and that of his son Amer at a memorial service at Raintree on Wednesday the 4th of October, 2023.
Arrival time is 3PM.… pic.twitter.com/cWF0kPhe7G
— Hopewell Chin’ono (@daddyhope) October 1, 2023
Meanwhile, the local community and law enforcement agencies are working together to manage the aftermath of the plane crash.
Business
Harpal Randhawa, Indian mining mogul, and his son die in Zimbabwe plane crash – Business Today
Six people, including two Indian nationals, were killed in a plane crash in Zimbabwe on September 30. The plane, a Cessna 206, which was en route from Harare to the Murowa diamond mine crashed shortly after taking off from Charles Prince Airport in Harare. The cause of the crash is still under investigation.
Harpal Randhawa, the owner of RioZim, a diversified mining firm producing gold and coal as well as refining nickel and copper, was killed, along with his son and four others, when the plane crashed in Mashava’s Zvamahande district, according to iHarare, a Zimbabwean news and media website.
The Cessna 206 aircraft, owned by RioZim, was en route from Harare to the Murowa diamond mine when the tragic incident occurred on Friday.
The single-engined aircraft crashed near the Murowa Diamonds mine, which is partly owned by RioZim.
The plane encountered a technical malfunction, which may have resulted in a mid-air explosion, before crashing into Peter Farm in the Zvamahande region.
According to the investigation, all passengers and staff onboard died in the disaster.
According to the Herald, a state-owned daily newspaper, four of the victims were foreigners and the other two Zimbabweans.
“The Zimbabwe Republic Police reported a plane crash which occurred on September 29 between 7.30 am and 8 am, where six people are confirmed dead,” police said.
“The Murowa Diamond Company (RioZim)-owned white and red Zcam aircraft had left Harare for the mine at 6 am and crashed about 6km from Mashava.”
RioZim acknowledged the crash and stated that it was working with the appropriate authorities to acquire additional information.
Police have not disclosed the names of the deceased, however writer and filmmaker Hopewell Chinono, a friend of Randhawa, confirmed his death.
“I am deeply saddened by the passing of Harpal Randhawa, the owner of RioZim who died today in a plane crash in Zvishavane. Five other people including his son, who was also a pilot but a passenger on this flight, also died in the crash,” wrote Chinono on X.
“My thoughts are with his wife, family, friends and the RioZim community.”
According to the RioZim company secretary, a detailed statement will be released.
“I am unable to address the media at this time.” “We will, however, issue a statement as soon as possible,” he said.
Randhawa founded the $4-billion private equity business GEM Holdings.
Meanwhile, the local community and law police are collaborating to deal with the aftermath of the jet accident.
With inputs from PTI
Protection order granted to Harare woman amidst controversial abuse linked to phone pornography – NewsDay
China is not a threat: debunking the US narrative – Pearls and Irritations
China Evergrande’s Founder: The Rise and Fall of Hui Ka Yan – The New York Times
ZimFocus – Zimbabwe Focus News is wholly owned and maintained by ZimMarket Digital Technologies Inc. Toronto, Canada, whose Founding and Executive Director is Joel Masuka
Cont Mhlanga – Today Zimbabwe is mourning, following the death of legendary playwright and filmmaker.
Cont Mhlanga Granted State-assisted Funeral
-
About Us1 year ago
ZimFocus – Zimbabwe Focus News is wholly owned and maintained by ZimMarket Digital Technologies Inc. Toronto, Canada, whose Founding and Executive Director is Joel Masuka
-
Entertainment1 year agoCont Mhlanga – Today Zimbabwe is mourning, following the death of legendary playwright and filmmaker.
-
latest news1 year agoCont Mhlanga Granted State-assisted Funeral
-
About Us6 months agoBOOK ON BOMBING OF SALISBURY FUEL TANKS IN 1978 RELEASED
-
About Us6 months agoZimLegends New Book : Who Is Who On Zimbabwe Digital Wall Of Fame
-
Notice: Undefined offset: 0 in /home/zimfocusco/public_html/wp-content/themes/zox-news/parts/post-single.php on line 575
Notice: Trying to get property 'cat_name' of non-object in /home/zimfocusco/public_html/wp-content/themes/zox-news/parts/post-single.php on line 575
1 year agoWatch a Robot Shaped Like Pasta Escape a Maze – CNET
-
About Us6 months agoBOOK ON BOMBING OF SALISBURY FUEL TANKS IN 1978 RELEASED
-
About Us6 months agoNew Book !!!!!!!! Zimbabwe Musicians Soccer Players and Arts Personalities of All Time