THE implementation of International Public Sector Accounting Standards (IPSAS) across local authorities is beginning to strengthen financial reporting, with councils submitting outstanding accounts and reducing the backlog of audits, a new audit report shows. The progress is a welcome relief for the country’s public sector, which has for years been weighed down by delayed financial…
BUSINESSMAN Simon Rudland’s Orange Ville Trading Limited is hoping to raise its Beitbridge juicing plant to US$40 million, as authorities seek to lift Matabeleland South province’s overall economic contribution to national gross domestic product (GDP). This comes as the tobacco baron has recently commissioned his US$102 million Cut Rag Processors (CRP) manufacturing plant in Aspindale,…
CBZ Holdings has expanded its trade finance facility with the African Export-Import Bank (Afreximbank) to US$190 million after securing an additional US$40 million, strengthening its capacity to support Zimbabwean businesses…
ZIMBABWEAN companies should adopt a more aggressive growth strategy and expand into regional markets to cushion against domestic shocks such as volatile currency and high inflation, analysts say. Speaking at the Institute of Chartered Accountants of Zimbabwe (ICAZ) Winter School in Victoria Falls last week, business analyst Tinashe Murapata said local businesses needed to expand…
THE sustained stability of Zimbabwe’s local currency has eased financial reporting hurdles and reduced audit complications, accounting professionals have said. This came out at the Institute of Chartered Accountants of Zimbabwe (ICAZ) Winter School held in Victoria Falls last week. The four-day gathering, held under the theme: Charting New Frontiers: Resilience, Innovation & Sustainable Value,…
ACTIVITY on the Victoria Falls Stock Exchange (VFEX) overtook the Zimbabwe Stock Exchange (ZSE) during the first half of 2026, even though the latter still lists more companies. This comes as migrations from the ZSE to the VFEX have picked up following new streamlined rules introduced in April 2026. The trade-count on the VFEX grew…
ZIMBABWE Revenue Authority (Zimra) will soon roll out phase two of its Tax and Revenue Management System (TaRMS), integrating key third-party stakeholders to enhance tax administration and improve compliance, a senior official has said. The second phase of the digital tax platform will deepen automation and connectivity with external institutions after the successful implementation of…
Prisca Tshuma and Mishma Chakanyuka AUTHORITIES must now shift their focus from economic stabilisation to aggressive growth generation, experts have urged. This follows Finance minister Mthuli Ncube’s generally well-received mid-term budget review of last week, which was anchored by sustained fiscal discipline and currency stability. In this regard, the experts also said yesterday that to…
INVICTUS Energy is stepping up efforts to secure strategic partners and new business opportunities for its Cabora Bassa oil and gas project in Zimbabwe as it transitions from exploration towards development and commercialisation. The Australian-listed energy company, in its second quarter to June 30, 2026, trading update said it continued discussions with several alternative strategic…
ZIMBABWE’S private sector owes the government US$1,2 billion in unpaid taxes, undermining Treasury’s ability to meet its obligations, Finance permanent secretary George Guvamatanga has said. Addressing the 2026 Mid-Term National Budget Business Breakfast Review hosted by our sister paper, Daily News, in Harare yesterday, Guvamatanga said the bulk of the tax debt owed to the…
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