AMERICAN banker and businessman Marc Holtzman is to join an expanded Mutapa Investment Fund (MIF) board, which is likely to have two more members, it has emerged. This comes as government has taken numerous steps to operationalise the fund and the ex-CBZ Holdings (CBZ) chairman, and others including Prassad Bamre have been appointed on the…
Bets on more Ether gains are intensifying following a surprise US regulatory pivot toward allowing exchange-traded funds for the digital asset, even as questions swirl about the strength of demand for the products. The shift by the US Securities & Exchange Commission catalysed a 26% jump in the second-largest token in the seven days through…
Artificial intelligence is being used in the hunt to find an endangered male plant, described as the world’s loneliest, a female partner. A research project, led by the University of Southampton, is scouring thousands of acres of forest in South Africa – where the only known Encephalartos woodii (E. woodii) was ever found. All existing…
THE Zimbabwe Revenue Authority (Zimra) has disbursed ZiG102 million in tax refunds, aiming to alleviate the financial burden on businesses. Primarily stemming from value-added tax (VAT) overpayments, these refunds are a crucial component of the tax system, enabling registered operators to reclaim excess input tax. Zimra Commissioner of Domestic Taxes, Misheck Govha, confirmed significant progress…
DELTA Corporation, Zimbabwe’s leading brewer and beverage manufacturer, is set to import raw materials to bolster its stocks as the ongoing El Nino-induced drought has adversely affected its contract farming scheme. The company heavily relies on agricultural crops like sorghum for its beer and soft drink production. Delta typically requires 11 400 tonnes of red…
Zimbabwe’s farmers are no strangers to drought. In fact, it’s a recurring nightmare. The latest dry spell has devastated crops, leaving livestock parched and farmers desperate. Our staff reporter Almot Maqolo (AM) sat down with Paul Zachariya (PZ), executive director of the Zimbabwe Farmers Union (ZFU), to get a grip on the crisis. Below are…
NMBZ Holdings (NMB) is targeting a cumulative capital outlay of US$10 million for its property division to operate as a standalone business unit. The financial services company officially launched its fully-fledged property division, Property Development Company last year as part of diversification efforts but it remained as part of the group’s banking unit. Local banks…
AN independent contractor is a person or entity contracted to perform services for another entity as a non-employee, which offers a higher degree of autonomy than traditional employment. Contractors decide their own work hours, methods, and often juggle multiple clients. They shoulder their own business expenses and must supply their own tools and resources. As…
ZIMBABWE’S telecommunications sector has invested over US$4 billion in the past 15 years, in a bid to improve access to digital services within the country. This investment aligns with the sector’s commitment to digital innovation to support the National Development Goals and the Global Sustainable Development Agenda. Telecommunications Operators Association of Zimbabwe (TOAZ) chairperson, Lawrence…
TELECEL Zimbabwe has outlined its strategy to turn around its business’ fortunes after years of failing to replace obsolete equipment and financial challenges. The company is one of three mobile operators in Zimbabwe, alongside Econet Wireless and NetOne. Sales and distribution director at Telecel Zimbabwe, Obert Mandimika, told The Financial Gazette that the turnaround plan…
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