Page 386 – The Financial Gazette

TAX MATTERS: Navigating taxation changes with ZiG

Marvelous TaperaMay 2, 202401.8K views

https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-303144.mp3?cb=1732287634.mp3 IN a significant move to stabilise its economy and streamline financial operations, Zimbabwe has introduced the Zimbabwe Gold (ZiG) as its new official currency. This marks a monumental shift in the nation’s monetary policy, aiming to foster stability, restore market confidence, and enhance the functionality of monetary and tax systems. The initial phase of this…

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Engineering firms struggle to survive

Almot Maqolo, Staff WriterMay 2, 202401.1K views

A STAGGERING 158 companies in the engineering, iron, and steel sector deregistered in 2023, marking a 5 166,67 percent increase from the three recorded in 2022, according to a new report. The industries are a significant pillar of the country’s economy, generating over US$1,45 billion in exports and bolstering the much-needed foreign exchange reserves. However,…

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Willdale attracts regional clients

Almot Maqolo, Staff WriterMay 1, 20240872 views

BRICKMAKER, Willdale, says it is receiving orders from clients as far as Mozambique and Zambia and is now working on improving production capacity to meet the growing demand for its products. Export initiatives remain central to the company’s long-term goals driven by the need to generate additional foreign currency to meet its growth prospects. Willdale…

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TSL ventures in animal healthcare products

Almot Maqolo, Staff WriterApril 30, 20240743 views

ZIMBABWE Stock Exchange-listed diversified company, TSL has developed new animal healthcare products as it moves to diversify its product offerings. Local retailers have traditionally relied on external suppliers for procurement of animal healthcare products and the localisation of production of these commodities presents a potentially lucrative business for the company. “We have started manufacturing animal…

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First Capital income surges 33 pct

Mishma Chakanyuka, Staff WriterApril 29, 20240792 views

…but aggravated operating expenses cut margins FIRST Capital Bank (First Capital) recorded a 33 percent increase in total income to US$71,2 million for the fiscal year ended December 31, 2023 buoyed by a significant increase in customer base, loans and advances, and proportion of US- dollar transactions. The growth in total income during the year…

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Zimbabwe’s LTE deployment remains ‘slow’

Mishma Chakanyuka, Staff WriterApril 29, 202401K views

ZIMBABWE continues to lag in the deployment of Long-Term Evolution (LTE) base stations, as revealed by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz). This revelation comes as telecommunication firms in the southern African nation are transitioning from older-generation mobile technology to fourth-generation wireless technology. The latter offers higher capacity and faster download and…

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Kavango announces capital raise for Zimbabwe, Botswana projects

Almot Maqolo, Staff WriterApril 29, 202401.3K views

LONDON-based Kavango Resources Plc (Kavango) is aiming to raise about £3,08 million (US$3,86 million) by issuing 257,11 million new ordinary shares at a price per share of 1.2 pence through…

Black market is money laundering – Treasury

Adelaide Moyo, Group Managing EditorApril 25, 202401.1K views

THE Ministry of Finance says it will now classify activities on the parallel market as money laundering. The treasury’s move is a bold attempt to curb currency manipulation and stabilise…

Executive changes at CBZ calm investors

Almot Maqolo, Staff WriterApril 25, 202401.1K views

CBZ Holdings (CBZHL) shares remained steady in a midweek session following the announcement of Lawrence Nyazema’s appointment as the new group chief executive officer. Shares of CBZHL were steady at ZiG363,2500. Nyazema’s appointment, effective from April 19, 2024, comes after his tenure as the company’s acting group chief executive officer since December 1, 2023. This…

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Caledonia’s Blanket mine output 6 percent up in Q1

Mishma Chakanyuka, Staff WriterApril 22, 202401.6K views

CALEDONIA Mining Corporation posted a six percent increase in gold production at its flagship subsidiary, Blanket mine, to 17,050 ounces during the first quarter ended March, 31, 2024 despite having eight fewer production days compared to the same period last year. Fewer production days were due to the production cut-off for gold de- livery set…

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GreenCo secures US$11,5m backing as renewable energy platform expands

‘Harness innovation to tackle jobs crisis’

Old Mutual rallies behind TCS Awards

TAX MATTERS: Navigating taxation changes with ZiG

Engineering firms struggle to survive

Willdale attracts regional clients

TSL ventures in animal healthcare products

First Capital income surges 33 pct

Zimbabwe’s LTE deployment remains ‘slow’

Kavango announces capital raise for Zimbabwe, Botswana projects

Black market is money laundering – Treasury

Executive changes at CBZ calm investors

Caledonia’s Blanket mine output 6 percent up in Q1