FINANCIAL services group CBZ Holdings says its loans and advances clocked $2,07 trillion in the year ended December 31, 2023, registering a 145 percent growth year on year. As per the group’s internal business classification, the majority of the advances were concentrated in commercial loans, which rose 155 percent to $1,64 trillion in 2023 from…
THE Zimbabwe Stock Exchange (ZSE) recorded a significant surge in both its top and bottom lines in the year ended December 31, 2023 allowing it to declare a full year dividend of ZiG5,25 and US$0,88 per share despite strong macroeconomic and market headwinds. In 2023, the exchange realised a 303,84 percent jump in its inflation…
ZIMBABWE’S internet penetration rate has reached 73,3 percent, but a significant connectivity divide persists – particularly in rural areas. This comes as the country aims to increase internet penetration to over 75 percent by 2025. Marketing manager at Powertel Communications, Prosper Mutswiri, discussed this gap during a Zimbabwe National Chamber of Commerce (ZNCC) webinar. He…
THE concept of input tax serves as a critical mechanism for tax recovery by businesses engaged in the production of taxable supplies. Input tax is defined as the VAT incurred by a registered operator when acquiring or importing goods and services used in business operations that generate taxable outputs. The eligibility to claim back this…
CONVEYOR belts supplier, General Beltings Holdings says it wants to focus on consolidating market share in energy and cement manufacturing sectors amid strong headwinds in mining set to affect downstream demand for its products. The mining sector is a key market for the group which also supplies chemicals. The group anticipates that demand for its…
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