THE Zimbabwe Revenue Authority (Zimra) has emphasised the importance of ensuring goods reach the market at the lowest possible cost, identifying efficiency and cost reduction as critical components of its trade facilitation efforts.Zimbabwe, a landlocked nation, shares borders with Botswana, Mozambique, Namibia, South Africa, and Zambia.Its primary trading ports include Durban, Beira, and Walvis Bay…
THE Zimbabwe Revenue Authority (Zimra) has introduced automated systems to bolster border security, while fostering economic growth and development. This initiative coincides with a nationwide crackdown on smuggling, which increasingly threatens legitimate trade, economic progress, and public safety.Speaking at the International Customs Day Celebrations, Zimra Commissioner-General, Regina Chinamasa, explained that the new measures aim to…
ZIMBABWE’S inflation rate soared in January 2025, with the weighted month-on-month figure reaching 11,6 percent, a sharp rise from 1,1 percent in December 2024, according to the Zimbabwe National Statistics Agency (ZimStat).Similarly, the US$ month-on-month inflation rate jumped from 0,6 percent in December to 11,5 percent in January, reflecting a 10,9 percentage point increase.Meanwhile, the…
THE proliferation of smuggled goods on the local market is having an adverse effect on the viability and growth of business, National Foods Holdings Limited (Natfoods) chief executive, Michael Lashbrook, has said.The development has culminated in recent shutdowns by several formal businesses across the country.Speaking in Harare recently, Lashbrook said smuggling has created an uneven…
LEADING tax advisor, Marvellous Tapera, has called on the government to revise the country’s tax structure, asserting that the current framework does not support a business-friendly environment conducive to growth. In an interview with The Financial Gazette, Tapera, who is also the managing director of the consultancy firm, Tax Matrix, emphasised the importance of macroeconomic…
Elton ManguwoStaff Writer BUSINESS has applauded the Reserve Bank of Zimbabwe (RBZ) for its recent introduction of the Targeted Finance Facility (TFF), a measure aimed at boosting funding for the productive sectors of the economy and addressing the prevailing market liquidity challenges.The roll-out of the TFF is expected to provide much-needed financial support, stimulate economic…
TANGANDA Tea Company (Tanganda) says it is developing a 60-hectare coffee plantation under a joint venture arrangement with a private partner as it seeks to revamp dwindling coffee volumes. The Zimbabwe Stock Exchange (ZSE) listed agro-industrial concern has seen a drastic decline in coffee output recently owing to its ageing plantations that have adversely affected…
ZIMBABWE’s exports decreased by 23,5 percent to US$692,4 million in December 2024 from the November 2024 value of US$905,2 million, latest data shows According to the Zimbabwe National Statistics Agency’s latest data, industrial supplies comprised 94,6 percent of the goods exported in December 2024.Among the top 10 products exported in December 2024 was semi-manufactured gold…
DELTA CORPORATION (Delta)’s sparkling beverages segment recorded a 16 percent slump in sales volumes during the third quarter ended December 31, 2024 as the sugar tax induced price increases weakened its competitiveness against imports from the region.The sugar tax, introduced at the start of last year as part of the government’s effort to expand its…
KLM Royal Dutch Airlines will cease its freight operations to Harare starting this April, citing operational challenges linked to the service, it has emerged.This was revealed through a notice to customers by Tiger Freight’s managing director, Pim de Wit, who reassured clients that the shipping services provider is actively seeking solutions to address the impending…
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