THE Reserve Bank of Zimbabwe (RBZ) is at the forefront of efforts to safeguard the financial services sector against the growing threat of cyberattacks and the rising “reliance” on third-party service providers.This come as the global financial landscape continues to evolve and with increasing digitisation and financial innovation, cybersecurity has become a pressing concern for…
Nampak Southern Africa Holdings is still in negotiations with TSL Limited over the sale of Nampak Zimbabwe following the former’s acceptance of a binding offer. Nampak Southern Africa wants to dispose of a 51,43 percent shareholding in Nampak Zimbabwe for US$25 million.“Shareholders and the investing public are urged to continue to exercise caution when dealing…
ZIMBABWE’S transfer pricing rules are contained in sections 98A and 98B of the Income Tax Act (ITA). The rules came into force retrospectively as of January 1, 2014, because of an amendment to Act promulgated in April 2014. The Income Tax Act was further amended, effective January 1, 2016, to clarify the transfer pricing legislation…
IN an era where technology continuously reshapes industries, the field of auditing is undergoing a transformative evolution. Traditional audits, often characterised by their retroactive nature and considerable time lag, are giving way to a more proactive and efficient approach known as predictive auditing. This shift not only enhances the speed and accuracy of audits but…
INNBUCKS MicroBank Limited (Innbucks) posted a significant growth in revenue from customers’ loan payments ― more than doubling its topline while fees and commissions income also fared positively during the year ended June 30, 2024. In its delayed full year results, the group saw its interest income grow by an impressive 960 percent to ZiG96,4…
Elton ManguwoStaff Writer POWERSPEED Electrical Limited (Powerspeed) says the shortage of capital on the domestic market has put its expansion plans under serious threat as currency uncertainty continues to deter borrowers from long-term funding. The electrical and hardware supplier said the development was also impeding it from implementing its innovative idea and diversification of its…
NATIONAL Handling Services Zimbabwe (NHS) says starting this year, it will unlock more value from its cargo business by allowing it to operate independently while it focuses on ground-handling business as part of a long-term strategy. This comes in the face of financial pressures and shifting market dynamics. NHS is laying out an ambitious plan…
DELTA Corporation (Delta) says it is moving forward with plans to reshape its Belmont plant in the country’s second-largest city, Bulawayo, over a period of two years in a bid to improve operational efficiencies.The beverage-making company has been actively expanding its production capacity in the past few years and the efforts are beginning to pay…
SUGAR producer Hippo Valley Estates (Hippo Valley) plans to increase its operational efficiency and boost cash generation as it seeks to ease pressure on borrowings. The Zimbabwe Stock Exchange (ZSE)-listed group had net borrowings of US$10,9 million in the six months ended September 30, 2024 which was 16 percent above the comparable period prior year…
GEO Associates, an exploration company that is 80 percent owned by Invictus Energy has been granted a three-year extension to its Special Grant 4571 in Zimbabwe’s Cabora Bassa Basin paving the way for exploration and other works programmes. “the Minister of Mines and Mining Development, with the authorisation of the President, has, in terms of…
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