PPC - March 2018
The Reserve Bank of Zimbabwe has agreed to grant PPC Zimbabwe an export incentive above the usual five per cent. The company applied for the incentive following a drop in its exports from 0.1Mta in 2014-15 to zero on the back of currency depreciations against the US dollar. According to Kelibone Masiyane, managing director, PPC, the company will now resume exports but at variable costs so will not fully recover its absorbed costs. The bottom line will be to get US dollars to pay for the raw materials. This will include stripping out local costs and focussing on the US dollar component, adds Mr Masiyane.
