SIMBISA Brands (Simbisa) says it has completed the acquisition of the Eswatini business, previously a franchised market, as the group streamlines its operations. The Victoria Falls Stock Exchange-listed firm’s operations in Eswatini are now company-owned and operated, profitable contributors to group performance with 17 counters currently trading under the Chicken Inn, Pizza Inn and Galito…
CALEDONIA Mining Corporation (Caledonia) has warned that increased operating costs for 2023 and several significant one-off, non-operating costs in the final quarter of 2023 will see a reduction in profit for the full year. The Victoria Falls Stock Exchange-listed miner said the increase in operating costs comprises higher-than-expected overtime payments and power costs at Blanket…
EDGARS Stores (Edgars) plans for its shares to commence trading on the Victoria Falls Stock Exchange (VFEX) on April 8, subject to shareholder approval at a March 22 extraordinary general meeting. If passed, the apparel retailer’s shares would cease trading on the Zimbabwe Stock Exchange (ZSE) on March 27. The move, announced in February, reflects…
INVICTUS Energy says it is preparing to monetise the Mukuyu gas discoveries and further explore the portfolio of multiple drill ready prospects. The ASX-listed miner confirmed the discovery of high-quality natural gas at the Mukuyu gas field, marking a significant stride in the country’s energy sector. The energy firm’s December drilling campaign unearthed two material…
VALUE-added Tax (VAT) legislation and its regulations presents a unique interpretation challenge because of its intricate system of classifications of goods and services. A correct classification is essential in managing VAT compliance and for enhancing shareholder value. This article, therefore, explains these categories, highlighting their roles and implications within the VAT framework. According to the…
ZIMBABWE’s platinum production surpassed the 500 000 ounces milestone for the first time in 2023 owing to operational improvements and project developments, the World Platinum Investment Council (WPIC) has revealed. In its quarterly update, WPIC said platinum production increased six percent to 507 kilo ounces (koz) last year compared to 480 koz ounces recorded in…
ZIMBABWE, with its rich mineral resources, has long relied on the mining sector as a cornerstone of its economy. Recognising the potential of mining for national development, the government has introduced a special capital gains tax on entities which acquire or transfer mining title and interest. This article unpacks the special capital gains tax, providing…
DESPITE the economic challenges in Zimbabwe, the past year has seen promising trends on the Zimbabwe Stock Ex-change (ZSE). In a discussion with The Financial Gazette’s Almot Maqolo (AM), ZSE…
AFRICA Albida Tourism (AAT) has reaffirmed its commitment to supporting the Victoria Falls Anti-Poaching Unit (VFAPU) and other wildlife conservation initiatives, a principle that has been embedded in its business model for years. The rise in poaching in the Victoria Falls National Park and the Zambezi National Park led to the establishment of VFAPU in…
FITCH Solutions predicts the Zim dollar to weaken by over 80 percent against the US dollar his year. The outlook, however, highlights a potential deviation, contingent on the pending monetary policy statement. The local unit has depreciated by over 40 percent against the US dollar this year underscoring economic turbulence, raising the spectre of further…
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