ZIMBABWE has of late seen a spike in investor interest from the United Arab Emirates, with a number of visits by high profile investors from the region, apparently a result of an expo which was recently held in Dubai, where Zimbabwe’s pavilion reportedly attracted “much interest”. This comes as foreign direct investment (FDI) inflows into…
Franchise arrangements are part of our day to day lives. From fuel stations to grocery stores and fast-food outlets, franchises can be seen all over the country and beyond. A common misconception with franchising is that it is limited to a specific industry. In fact, most businesses, especially in service-related industries, can be franchised. It…
AIRPORTS Company of Zimbabwe (ACZ) says it has begun civil works to refurbish the Grand Reef Airport in Mutare, with the view of completing the project this year. Focus on Grand Reef Airport, which is a military air force base serving the city of Mutare and has a 20-kilometre runway, follows the completion of the…
HWANGE Colliery Company (Hwange) is targeting increased coking coal and coke product sales in the region this year to raise funds to discharge obligations to creditors as well as create a positive balance sheet in the medium term. The coal miner, which is still under administration, has set aside US$15 million to acquire new underground…
THE Zimbabwe Stock Exchange (ZSE) has granted Ecocash Holdings Zimbabwe (Ecocash) and Zimre Holdings Limited (ZHL) a grace period within which to publish their annual financial results after the companies missed set deadlines. The ZSE had given listed firms until April 30 to submit financial statements for the year ended December 31, 2021 after being…
THE Value Added Tax (VAT) laws provide for refund of excessive input tax i.e. input tax plus adjustments that exceed output tax, plus adjustments in any tax period as long as the claim is made within six years of the end of the relevant tax period. The refund should exceed the prescribed amount of ZWL$7…
EVER rising operating costs, primarily driven by surging imported inflation, the weakening Zim dollar and soaring administered prices have become a major issue for many businesses. In this regard, experts who spoke to The Financial Gazette this week urged authorities to temper their administered prices, including those relating to fuel, power and road tolls —…
THE Zimbabwe Stock Exchange (ZSE) lost about $290 billion during the two weeks that followed President Emmerson Mnangagwa’s economic measures that were, in part, meant to deter speculation on the local bourse, which authorities say has been stoking inflation. Its market capitalisation shrank from $3,27 trillion to $2,98 trillion. Amid the bloodbath, the bourse reversed…
ZIMBABWE’S broad money supply, which consists of domestic and foreign currency deposits, rose to $589 billion in March from $506,1 billion, latest data from the Reserve Bank of Zimbabwe (RBZ) shows. The central bank said the money stock was largely composed of local currency deposits at 52,74 percent and foreign currency deposits at 42,78 percent.…
THE Grain Millers Association of Zimbabwe (GMAZ) says it has managed to secure 400 000 metric tonnes (mt) of maize from Zambia and Malawi to beef up local reserves, as the country faces a reduced grain output. This comes as the Cabinet in February this year allowed private grain millers to import maize using free…
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