ZIMBABWE could be on the verge of finally resolving the contentious land tenure issue, close to two-and-a-half decades after the onset of the land reform programme, as the government says it is inching closer to producing a bankable 99-year lease. This was revealed by a confident Agriculture permanent secretary John Basera, though a degree of…
ANALYSTS say Zimbabwe’s interest rates are still too high after the central bank reduced the policy rate from 150 percent to 140 percent. The country’s borrowing rates were raised last year to curb speculative borrowing, which the bank said was encouraged by sub-inflationary rates and stocking inflation. The policy rate, which acts as a baseline…
INVESTMENT expert Lionel Marumahoko says local businesses should take advantage of the African Continental Free Trade Area (AfCFTA) to explore business opportunities across the continent.
THE Reserve Bank of Zimbabwe (RBZ) says it will introduce gold-backed digital products to supplement the current physical bullion coins and allow for wider trade in the asset. The central bank introduced the Mosi-oa-Tunya gold coins in July last year in a bid to lower inflation and stabilise the local currency, which was rapidly losing…
Old Mutual Zimbabwe says its financial position remained strong during the year ended December 31, 2022, despite high inflation and value losses recorded on its listed equity portfolio.
BINDURA Nickel Corporation (BNC) says it expects the Kingstone Hill project — a new mining venture — to contribute significant ore feed to its smelter, which is undergoing upgrades to increase capacity to 160 000 tonnes of nickel concentrate. The refurbishments of the smelter, which was mothballed following the closure of the firm’s Shangani and…
ZIMBUILD Property Investments chief executive and immediate past president of the Zimbabwe National Chamber of Commerce, Tinashe Manzungu, says he will seek opportunities to raise capital for infrastructure development in the country during an international indaba set for the United Kingdom next month. Manzungu, who will be a guest speaker and honouree at the 2023…
THE Confederation of Zimbabwe Industries (CZI) will today release the 2022 Manufacturing Sector Survey at an event to be attended by Industry minister Sekai Nzenza. The highly-anticipated survey provides a detailed look into the performance and state of Zimbabwe’s manufacturing sector between January and December 2022, and is nationally representative. The sector is at the…
The tax treatment of assessed losses in Zimbabwe is an important issue for businesses operating in the country. With highly-volatile economic conditions, companies should understand the tax treatment of assessed losses. Losses are not bad for tax purposes, but what’s key is for a business to stay afloat and eventually turn its fortunes around. The…
The crisis facing the US banking system “is not yet over,” the head of America’s biggest bank has warned. Jamie Dimon, chief executive of JPMorgan Chase, made the comments in an annual letter to shareholders just weeks after the dramatic collapse of two major US banks. He said he did not expect the turmoil to lead to…
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