ZIMBABWE’s platinum production surpassed the 500 000 ounces milestone for the first time in 2023 owing to operational improvements and project developments, the World Platinum Investment Council (WPIC) has revealed. In its quarterly update, WPIC said platinum production increased six percent to 507 kilo ounces (koz) last year compared to 480 koz ounces recorded in…
ZIMBABWE, with its rich mineral resources, has long relied on the mining sector as a cornerstone of its economy. Recognising the potential of mining for national development, the government has introduced a special capital gains tax on entities which acquire or transfer mining title and interest. This article unpacks the special capital gains tax, providing…
DESPITE the economic challenges in Zimbabwe, the past year has seen promising trends on the Zimbabwe Stock Ex-change (ZSE). In a discussion with The Financial Gazette’s Almot Maqolo (AM), ZSE…
AFRICA Albida Tourism (AAT) has reaffirmed its commitment to supporting the Victoria Falls Anti-Poaching Unit (VFAPU) and other wildlife conservation initiatives, a principle that has been embedded in its business model for years. The rise in poaching in the Victoria Falls National Park and the Zambezi National Park led to the establishment of VFAPU in…
FITCH Solutions predicts the Zim dollar to weaken by over 80 percent against the US dollar his year. The outlook, however, highlights a potential deviation, contingent on the pending monetary policy statement. The local unit has depreciated by over 40 percent against the US dollar this year underscoring economic turbulence, raising the spectre of further…
THE Zimbabwe Investment and Development Agency (ZIDA) has designated three new special economic zones (SEZs) following the recent implementation of new governing regulations. The new SEZs are located in Beitbridge, Goromonzi, and Chipinge. These SEZs are part of ZIDA’s broader regulatory framework, established under the Zimbabwe Investment and Development Agency Act, which consolidated previous investment…
THE Zimbabwe Investment and Development Agency (ZIDA) is targeting a two-day turnaround for investor licensing, a significant reduction from the current 14 to 21 days, according to chief investment promotion officer, Silibaziso Chizwina. This move comes in response to growing interest from foreign investors and the need to streamline what has been a lengthy and…
AUTHORITIES have started identifying all the people who are eligible to pay the country’s much-debated new wealth tax, the Zimbabwe Revenue Authority (Zimra) confirmed yesterday.
TANGANDA Tea Company (Tanganda) nearly doubled its support for the tea outgrowers scheme to $115,06 million in the year ended September 30, 2023 from $59,11 million in the prior comparable period. The diversified group has an excess of 1 000 farmers that are affiliated with its outgrowers’ scheme. “Outgrowers support directly benefits small-scale farmers, labour…
CFI Holdings (CFI) says it is looking at strategic raw material procurement to sustain operations while diversifying its retail lines away from dependence on agro-inputs. This comes as Zimbabwe is expected to witness a reduced agricultural output due to the El Nino induced lower than normal rainfall forecasted for the 2023/24 agricultural season. “Management is…
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