ZIMRE Holdings (Zimre) says it is looking forward to working closely with Mutapa Sovereign Wealth Fund (Mutapa) in its pursuit of initiatives that seek to yield considerable return on investment from agri-business firm, CFI Holdings. The National Social Security Authority (NSSA) and Zimre have a 38,91 percent shareholding in CFI held through Stalap Investments making…
IN the wake of Zimbabwe’s recent introduction of a gold-backed currency, the Zimbabwe Gold (ZiG), to replace the inflation-ravaged Zimbabwean dollar, some in the accountancy profession are exploring a novel approach — triple reporting of financial results. This innovative strategy aims to address the complexities and restore confidence in financial reporting during the ongoing transition.…
FINANCIAL services group CBZ Holdings says the Reserve Bank of Zimbabwe (RBZ) has so far disbursed US$54,08 million under a special settlement arrangement to expunge the legacy liabilities and nostro gap accounts. This represents a 38,43 percent increase from the US$39,06 million recorded as of December 2022. The presence of legacy debts on the company’s…
THE Tobacco Industry and Marketing Board (TIMB) has reported a significant decrease in tobacco side marketing this season, attributed to stricter penalties and a new compliance framework. Side marketing, a form of contract default where farmers sell to a different buyer than the one who provided inputs, is often driven by price and poor market…
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