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Zimbabwe’s mining royalty taxation

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Liquidity squeeze stifles Masimba operations

Staff Writer0251 views

MASIMBA Holdings says the tight liquidity conditions in the market has hampered effective execution of projects resulting in cash flow challenges and increasing debtors’ book.The construction firm is a huge contractor of the government’s massive infrastructure projects.“This (tight liquidity) constrained the business’ ability to fund ongoing projects and manage operational expenses, causing delays in project…

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Air traffic surges 19 percent

Almot Maqolo, Staff Writer0300 views

ZIMBABWE’S airports saw passenger traffic rise by 19 percent in 2024, reaching 2,28 million, up from 1,93 million in 2023.The Civil Aviation Authority of Zimbabwe (CAAZ) reported this increase, attributing it to stronger global and regional connections.These figures show significant growth in both international and domestic travel, proving a strong recovery in the aviation sector…

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Zimplow shifts focus to mining, infrastructure

Staff Writer0181 views

Zimplow says it is refocusing its efforts on its mining and infrastructure business units, which have shown resilience despite economic setbacks for long-term growth in response to the challenging conditions in the agricultural sector.The diversified firm’s agricultural unit, including Mealie Brand, saw a 46 percent drop in turnover due to the severe drought and the…

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Willdale solar transition saves 5pct energy costs

Staff Writer0178 views

Willdale expects its planned transition to solar energy to save up to five percent in energy costs as part of its efforts to reduce environmental impact and contain overheads.The brick-making concern has recently been plagued by losses due to overreliance on the national power grid, resulting in downtime averaging 30 percent due to electricity cuts…

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Zimra targets US$7 billion

Staff Writer0328 views

THE Zimbabwe Revenue Authority (Zimra) says it is targeting to collect US$7,16 billion in revenue this year, supported by various revenue enhancement measures.The national tax collector said the ambitious goal is supported by measures including improved tax compliance, expanded digital platforms and enhanced administrative efficiencies within Zimra.“Key to achieving this target will be the successful…

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OK Zimbabwe seeks to raise US$30 million

Staff Writer0181 views

OK Zimbabwe (OK Zim) plans to raise US$30 million through a combination of a rights issue, private placement and debt instruments, which will be channeled towards recapitalisation.This comes as the company has been experiencing operational and ­financial difficulties, which it attributes to “endogenous and exogenous factors,” driven by a challenging operating environment.“The initiative is expected…

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CBZ targets strategic expansion into SA

Almot Maqolo, Staff Writer0359 views

CBZ Holdings (CBZ) is preparing for a major regional expansion, with plans to enter South Africa, followed by Botswana and other key markets.The financial giant aims to tap into high-growth opportunities while leveraging partnerships, joint ventures, and mergers and acquisitions to strengthen its presence beyond Zimbabwe.CBZ Group chief executive, Lawrence Nyazema, confirmed that South Africa…

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