ZIMBABWE does not need to import grain for the next 12 months according to the country’s recently published second crop assessment report. The country’s cereal production is expected to rise significantly this year, with maize production seen reaching 2,3 million metric tonnes (MT), a 58 percent increase from last year’s yield, according to the report.…
FINANCE minister Mthuli has conceded that Zimbabwe’s adoption of a blended consumer price index (CPI) has created accounting difficulties, but insists that it is the most appropriate benchmark. It comes as business has also warned that the country’s change from a ZWL CPI threatens to damage confidence in the domestic currency and contradicts Harare’s professed…
THE effective implementation of the International Public Sector Accounting Standards (IPSAS) project will be aided by the deployment of appropriate information and communication technology (ICT) infrastructure, minister of Finance, Mthuli Ncube has said. The ongoing project for the migration to the accrual-based IPSAS framework by December 2025, is part of the government’s wider public finance…
INDIAN ambassador to Zimbabwe, Vijay Khanduja, says investments in Zimbabwe by citizens of his country have grown significantly over the years on the back of improving relations between the nations. Speaking on the sidelines of the commissioning of the Varun Beverages Zimbabwe water and bottles closure plants, Khanduja applauded the government of Zimbabwe for providing…
FINANCIAL services giant Old Mutual Zimbabwe has launched its Fintech business, Old Mutual Digital Services (OMDS), a subsidiary that will provide mobile money services, insurtech, investech, digital lending, e-commerce, payments, and digital products and services for the retail mass market. The new venture, which is wholly owned by Old Mutual Zimbabwe (OMZ), seeks to service…
Structuring a business as a company is often seen as a fashion without considering the tax and commercial implications that may arise from such a choice. To many, being in business is synonymous with running a company, when in fact a company is one among many ways of structuring a business. Choosing a structure that…
British microchip designing giant Arm has filed to sell its shares in the US, setting the stage for what could be the biggest stock market listing this year. The Cambridge-based firm is reportedly aiming to raise up to $10bn (£8bn). In a blow to the UK, the company said in March that it did not…
SABI Star Mine (Sabi), a lithium-producing entity wholly-owned by Chengxin Lithium, says it is finishing work on its processing plant in Buhera North, with production set to commence next month. Sabi has been mining and stockpiling raw lithium. The mine sits on 3 832 hectares and the resource is mined via an open pit and…
ZB FINANCIAL Holdings (ZB), says it is working fast to tie up the merger of its banking operations this year as part of its ongoing transformation. The integrated financial services group commenced a restructuring exercise in 2021 to “unlock value”. “As of December 31, 2022, all group companies, with the exception of ZB Building Society,…
IH SECURITIES says volumes sold in National Foods Holdings (NatFoods) maize and stock feeds divisions are likely to be weak in the last quarter of the fiscal year 2023, due to the projected over-supply of the harvest on the domestic market. This comes as Zimbabwe is expecting a bumper harvest for the 2022-23 crop, which…
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