Masimba wary of El Nino

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MASIMBA Holdings (Masimba) says the adverse impact of the El Nino weather phenomenon and the declining mineral prices could have spillover effects on infrastructure development spending by government and the private sector thereby impacting execution of its order book.

Zimbabwe has just endured a lackluster 2023/24 farming season due to the El Nino-induced drought expected to drag agricultural output while global mineral prices are forecasted to significantly decline this year.