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Milling and timber manufacturing company, Border Timbers, posted a sharp increase in revenue to $38,4 million for the year to June 2019 from $21,3 million prior year, but its loss position widened on the back of exchange losses.
Agricultural concern, Border Timbers was suspended from trading on the Zimbabwe Stock Exchange with effect from yesterday.
Supporters of ZANU PF who were encouraged to invade timber estates in Chimanimani by local party candidates ahead of last year’s elections, are being ordered to pack up and vacate their farms as government issues new offer letters to settlers.
MUTARE – An estimated 400 Border Timbers Limited workers will reportedly lose their jobs in the next few months as the company plans to lay off the employees citing high operational costs and dwindling profits.
It has been reported that an unregistered school, originally set up as a campaign gimmick by ZANU PF officials in Chimanimani, has continued to operate without a curriculum and is bringing profits to unqualified ZANU PF teachers.