AXIA Corporation’s subsidiary, Distribution Group Africa (DGA) regional operations in Zambia and Malawi resulted in improved volume performance during the six months to December 31, 2023 to after a lacklustre performance by the local unit. DGA is a distribution and logistics concern with its core expertise in inbound clearing and bonded warehousing, ambient and chilled/frozen…
THE Zimbabwe National Road Administration (Zinara) is on track to settle its debt with the Development Bank of Southern Africa (DBSA), with less than $70 million now outstanding. The original debt, which Zinara has been repaying in instalments, stood at $206 million. Zinara’s CEO, Nkosinathi Ncube, confirmed at the company’s annual general meeting that the…
TAXATION is a crucial aspect of any country’s economic system, serving as a primary source of revenue for government operations and public services. In Zimbabwe, the tax framework extends to cover various sectors, including the entertainment and sports industries. I explore the income tax intricacies faced by non-resident individuals involved in the entertainment and sports…
FITCH Solutions believes Zimbabwe’s ban on raw lithium exports, steering towards in-country processing, is a strategy that holds immense promise for economic upliftment in the medium term. The bold move was meant to harness the burgeoning global demand for electric vehicle batteries. As a major lithium provider, Zimbabwe is poised to tap into the rapidly…
IN A bid to enhance operational efficiency within Zimbabwe’s burgeoning Information and Communications Technology (ICT) sector, the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) is advocating for unified regulation. This would encompass the entire gamut of ICT services, including both postal and telecommunications as well as broadcasting services. The call for consolidated regulation comes…
IN A move to bolster national economic growth, the Zimbabwean government has advocated for integrating local micro, small, and medium-sized enterprises (MSMEs) into the United Nations’ e-commerce and digital economy initiative. This strategy is expected to significantly enhance the productivity of these businesses, which are pivotal to the country’s informal sector—a sector that accounts for…
IN A move emblematic of Zimbabwe’s growing influence in regional financial circles, Malvin Chidzonga of Nivteil Capital has been elevated to the co-chairmanship of the Research and Advisory Council of the Southern Africa Association of Sovereign Wealth and Pension Funds (SAASWPF). Additionally, Chidzonga will lend his expertise to the SAASWPF investment committee. Sovereign wealth funds,…
INTEGRATED Properties, a prominent local real estate firm, has cast doubt on the potential of the nascent Zim Cyber City to dethrone Harare’s central business district (CBD) as the economic nucleus of Zimbabwe in the foreseeable future. The ambitious project, a cutting-edge, multifaceted development, is taking shape in Mount Hampden, earmarked as the new epicentre…
THE Zimbabwe Stock Exchange (ZSE) says it is optimistic of a “quick” resolution to the dispute between the government of Zimbabwe and-Old Mutual Zimbabwe (OM) and PPC Zimbabwe over the trading suspension of their shares on the local bourse. Old Mutual and PPC have been in protracted engagements with the government of Zimbabwe since their…
TANGANDA Tea Company (Tanganda) is warming up to the idea of introducing solar-powered irrigation at its tea plantations following installation of three solar plants with a combined capacity of 4,4 megawatts (MW) meant to alleviate its huge energy bill. The company, which also produces coffee, macadamia nuts and avocados has been grappling with rolling electricity…
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