HOTELIER African Sun says it will go ahead with the disposal of several assets considered not essential to its future strategic focus as part of its capital raising initiatives to finance other growth areas. This comes after the group last month agreed a cumulative US$7 million deal with TD Hotels & Leisure for the disposal…
SUPERMARKET chain Choppies Enterprises (Choppies) has confirmed receipt of a US$1,8 million lump sum payment for blocked funds from the government of Zimbabwe aimed at settling outstanding obligations to foreign shareholders and restoring confidence in the business community. Blocked funds refer to foreign currency earnings that externally based companies like Choppies had generated through their…
By Kudzanai Gerede Companies and Markets Editor SUGAR producer Hippo Valley Estate (Hippo Valley) plans to spend US$15 million in the short-term to grow its business and return capital to shareholders, the company said at its 68th annual general meeting this week. The company has been battling unscheduled mill stoppages, a notable decline in yields,…
FOLLOWING the 2024 Mid-Term Budget Review presented by the Minister of Finance, Economic Development and Investment Promotion, the Zimbabwe Revenue Authority (ZIMRA)’s Public Notice 71 of 2024 introduces significant updates on quarterly payment dates (QPDs) for income tax. The notice provides detailed guidelines for taxpayers with income in both foreign currency and local currency, offering…
FIDELITY Life Assurance of Zimbabwe (Fidelity Life) expects revenue in the second half of the year to remain predominantly in foreign currency despite an anticipated growth in local currency transactions in the economy. In a statement accompanying its half-year financials, Fidelity Life’s chairperson, Livingstone Gwata, said whilst the acceptance of the ZWG increased across the…
HIPPO Valley Estates has made remarkable progress in reducing its petrol and diesel consumption and subsequently tamed its carbon footprint during the fiscal year ending March 31, 2024 (FY 2024). Energy is crucial to the operations of Hippo Valley Estates, impacting both productivity and its environmental footprint. To address these issues, the electrical department meticulously…
THE Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has once again demonstrated its commitment to giving back to the community, this time at Chivhu General Hospital.
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