THE Zimbabwe Revenue Authority (Zimra) has disbursed ZiG102 million in tax refunds, aiming to alleviate the financial burden on businesses. Primarily stemming from value-added tax (VAT) overpayments, these refunds are a crucial component of the tax system, enabling registered operators to reclaim excess input tax. Zimra Commissioner of Domestic Taxes, Misheck Govha, confirmed significant progress…
DELTA Corporation, Zimbabwe’s leading brewer and beverage manufacturer, is set to import raw materials to bolster its stocks as the ongoing El Nino-induced drought has adversely affected its contract farming scheme. The company heavily relies on agricultural crops like sorghum for its beer and soft drink production. Delta typically requires 11 400 tonnes of red…
Zimbabwe’s farmers are no strangers to drought. In fact, it’s a recurring nightmare. The latest dry spell has devastated crops, leaving livestock parched and farmers desperate. Our staff reporter Almot Maqolo (AM) sat down with Paul Zachariya (PZ), executive director of the Zimbabwe Farmers Union (ZFU), to get a grip on the crisis. Below are…
NMBZ Holdings (NMB) is targeting a cumulative capital outlay of US$10 million for its property division to operate as a standalone business unit. The financial services company officially launched its fully-fledged property division, Property Development Company last year as part of diversification efforts but it remained as part of the group’s banking unit. Local banks…
AN independent contractor is a person or entity contracted to perform services for another entity as a non-employee, which offers a higher degree of autonomy than traditional employment. Contractors decide their own work hours, methods, and often juggle multiple clients. They shoulder their own business expenses and must supply their own tools and resources. As…
ZIMBABWE’S telecommunications sector has invested over US$4 billion in the past 15 years, in a bid to improve access to digital services within the country. This investment aligns with the sector’s commitment to digital innovation to support the National Development Goals and the Global Sustainable Development Agenda. Telecommunications Operators Association of Zimbabwe (TOAZ) chairperson, Lawrence…
TELECEL Zimbabwe has outlined its strategy to turn around its business’ fortunes after years of failing to replace obsolete equipment and financial challenges. The company is one of three mobile operators in Zimbabwe, alongside Econet Wireless and NetOne. Sales and distribution director at Telecel Zimbabwe, Obert Mandimika, told The Financial Gazette that the turnaround plan…
THE Confederation of Zimbabwe Retailers (CZR) continues pushing for full market liberalisation of the exchange rate system to guarantee complete price discovery and meet the sector’s foreign currency demands. This comes as economic experts criticised the new delegated legislation, which compels businesses to use the exact average weighted exchange rate from the interbank forex market…
PRO Crafters Zimbabwe, a vibrant community dedicated to showcasing Zimbabwe’s rich artisan heritage, is set to ignite the entrepreneurial spirit with its inaugural Small Business Expo 2024.
A CRITICAL shortage of skilled engineers in Zimbabwe is threatening to undermine economic recovery and infrastructure development, according to a report by the Engineering, Iron and Steel Association of Zimbabwe (EISAZ). The report reveals a staggering 93,6 percent skills gap in the engineering sector, potentially derailing efforts to modernise and industrialise the nation. This shortage…
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