LEADING Pan African Bank – Ecobank Zimbabwe – has bankrolled the launch of the 2024-25 summer farming season ceremony to promote the attainment of a food self-sufficient Zimbabwe for all. To be held on November 21, 2024 at the Zimbabwe Agricultural Society (ZAS) Business Hub in Harare, the 2024-2025 farming season launch breakfast ceremony will…
THE Agricultural Marketing Authority (AMA) has reported that its Village Business Units (VBUs) have generated a promising US$65 797 in sales, showcasing the initiative’s effectiveness in promoting market-led farming and boosting rural livelihoods. The VBUs, created to establish direct market linkages for small-scale farmers, are helping them reach new buyers and improve their incomes. “We…
UNDERSTANDING the implications of Zimbabwean tax collection measures requires an appreciation of a taxpayer’s obligation and the extent of the revenue authority’s administrative powers. From the point of assessment by the revenue authority, a taxpayer needs to navigate the complex tax provisions to ensure both compliance and protection of its rights. Tax collection measures are…
CALEDONIA Mining Corporation says results from its Motapa exploration project are “encouraging” after it highlighted the presence of widespread gold mineralisation over a combined strike length of more than nine kilometers. Motapa is an exploration project acquired in November 2022, located directly adjacent to the group’s Bilboes gold project in southern Zimbabwe. The project was…
AXIA Corporation (Axia) says its diesel consumption has significantly dropped thanks to a strategic decision to diversify its energy mix and evade over dependance on “costly” diesel-power generators amid rolling electricity cuts in the country. Zimbabwe has endured prolonged power blackouts of up to 16 hours per day this year resulting in industry incurring additional…
THE Treasury has allocated US$1,9 million this year to recapitalise Zimbabwe Women’s Microfinance Bank Limited (ZWMB), aiming to expedite government guarantees and prescribed asset status for the institution. This comes as Zimbabwe Women Parliamentary Caucus (ZWPC) chairperson, Maybe Mbohwa, has called for support for ZWMB in mechanising smallholder women farmers. While financial inclusion has been…
THE Ministry of Finance has maintained that Zimbabwe’s gold-backed currency, ZiG, will bring more economic benefits than challenges, even as it has lost value over recent weeks. Since its April launch, the ZiG has experienced volatility, with its value dropping from around 14 to nearly 25 against the US dollar. Currently, it trades at ZiG26,9024…
TO ACHIEVE its ambitious Vision 2030, Zimbabwe must prioritise policy stability and a consistent exchange rate, according to former Zimbabwe Economics Society president Nigel Chanakira. Vision 2030, as outlined by the World Bank, seeks to raise Zimbabwe to an upper-middle-income economy, with a targeted gross national income per capita of between US$3,89 and US$12,06. “We…
TOURIST arrivals in Zimbabwe rose by a modest three percent in the second quarter of 2024, reaching 381 293 compared to 370 191 in the first quarter, as the country’s visitors reached 751 483 in the first half, a recent report reveals. The global recovery in tourism, alongside Zimbabwe’s enhancements in transportation infrastructure and focused…
BUSINESSES in Zimbabwe are expected to intensify their focus on the informal sector as a primary source of US dollar cash flow, according to a recent report from IH Securities. With the informal economy increasingly becoming a stronghold for US dollar transactions, corporates are strategically targeting this sector to secure consistent access to hard currency…
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