ZIMBABWE’S milk production was up by 10,13 percent to 8,14 million litres this January, the latest figures from the Agriculture ministry’s Dairy Services Department show. In the same period last year, the country’s milk production stood at 7,39 million litres. This year’s January milk output, however, was down by a negligible 0,02 percent compared to…
MINERS say Zimbabwe’s high royalty fees will impact negatively on the country’s quest to create a US$12 billion mining industry by the end of this year. This comes as Zimbabwe’s mining royalty charges, at up to 10 percent, are among the highest in the world. In neighbouring South Africa, for comparative purposes, mining royalty rates…
TANGANDA Tea Company (Tanganda) says it has invested extensively towards increasing the economic value of its major crops to mitigate its exposure to price volatility in primary agricultural markets. In a recent interview with The Financial Gazette, Timothy Fennell, Tanganda’s chief executive, said increased value addition would be a key long-term strategy for the company.…
LOW-cost airline, fastjet Zimbabwe, says it will continue to grow domestic flights to cater for increasing local travel demand. This comes as the airline is this month set to introduce flights to Kariba and Hwange National Park. “With the demand that we would see, we will continue to do our due diligence and monitor activity……
THE Institute of Chartered Accountants of Zimbabwe (Icaz) has urged the government to tax the informal sector to avoid overtaxing the formal sector. Zimbabwe is regarded as having one of the world’s most informalised economies, with estimates placing the grey economy at more than half of the country’s GDP. “As business, we would like to…
BUSINESS says it has had to contend with the growing costs of complying with Zimbabwe’s constantly changing tax laws. Speaking at The Financial Gazette’s annual tax indaba in Harare last week, Old Mutual Zimbabwe group finance manager, Lucia Chipungu, said the recent adjustment of Value Added Tax (Vat) to 15 percent from 14,5 percent, for…
THE United Nations Economic Commission for Africa (Uneca) says the harmonised policy, the legal and regulatory framework for Zambia and Zimbabwe’s proposed Common Agro-Industrial Park (CAIP) is now complete. The proposed park is expected to improve trade between the two countries within the context of the African Continental Free Trade Area (AfCFTA). Benefits of the…
FINANCE minister Mthuli Ncube says the government is waiting for a response from white former commercial farmers, who were displaced during the land reform, on a proposed compensation framework. The government has proposed floating a debt instrument to raise the US$3,5 billion needed to pay off the former farmers for improvements made on the land.…
EFFECTIVE implementation of local content thresholds in the fertiliser, packaging and pharmaceutical sectors needs capacitation of various sub-sectors, a recent government-commissioned study has shown. According to the Development of Local Content Thresholds for Fertiliser, Packaging and Pharmaceutical Sectors draft report submitted to the Industry and Commerce ministry, a number of capacity needs should be addressed…
IN last week’s article, I looked at the circumstances under which a contract might be deemed voidable. In this week’s article, I continue that conversation and expand it by dealing with how you can prove the existence and terms of a verbal contract. Thirdly, a contract can be voided on the basis of mistake. A mistake…
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