THE American Chamber of Commerce in Zimbabwe (AmCham) says Zimbabwe is increasingly being noticed as an attractive investment destination after enduring international isolation since the 2000s. This comes as Zimbabwe is embarking on a massive re-engagement drive aimed at ending the country’s isolation and attract foreign investment. “The launch of the AmCham is a very…
THE Insurance Council of Zimbabwe (ICZ) says vehicle insurance compliance remains low in the country. ICZ head of operations Nicholas Sayi told a recent indaba that both private and public transport vehicles were not complying with insurance requirements. “Regrettably, compliance is very low. Our last computation was that for public service vehicles, I think we…
With the Consumer Protection Commission (CPC) now in full swing, our News Editor Tendai Kamhungira (TK) sat down with the commission’s CEO Zororo Muranda (ZM) to discuss its mandate as well as its future plans. Below are excerpts from the interview: TK: Congratulations on your new position! Can you kindly tell us what is the…
INNSCOR Africa (Innscor) says difficulties relating to uncertain tax law interpretations could negatively affect its results for the current fiscal year. The light manufacturing group said there are increasing complications arising from the wording of the tax legislation in Zimbabwe, particularly in relation to the currency of settlement for certain taxes, which gives rise to…
ARISTON Holdings (Ariston) continues to focus on improving production processes and product quality, as it aims to drive its export sales volumes. In a trading update for the first quarter that ended December 31, 2022, the horticulture exporter’s company secretary Nkosilothando Ncube said increased export sales will translate to increased profitability, which mitigates against the…
CAFCA, the country’s biggest cable manufacturer, says it is worried about the dwindling supply of local scrap copper because it does not have enough foreign currency to import the metal to cover the deficit. While the company uses aluminium, polyvinyl chloride, polyethene and galvanised steel wire, copper remains the main raw material in the production…
NATIONAL Building Society (NBS) says it is set to deliver 200 units in Harare’s Tynwald suburb during the first quarter of 2023, on top of the 600 units the institution churned out through its Dzivaresekwa project in 2022. Feeding into the National Development Strategy 1 (NDS1), NBS managing director Tapera Mushoriwa (TM) says the institution…
LOW returns continue to stifle the appeal of money market instruments in Zimbabwe, amid persistently high inflation in the southern African country’s economy. Even though the central bank last year raised its policy rate and medium-term lending rate to 200 percent and 100 percent, respectively, this was still below inflation, which was reported at 243,8…
IF you are driving out of Harare towards Bulawayo from the CBD, you will come across no less than five Chicken Inn outlets. You will also find several Chicken Slice outlets dotted along the way. Such is the penetration that these two brands have in Zimbabwe. In fact, they have become synonymous with fast food.…
Capital allowances are a tax incentive designed to stimulate growth and investment in businesses by allowing the cost of qualifying capital expenditure to be counterbalanced against operating profits, thereby reducing the amount of tax liability. Capital allowances are obtainable when a business purchases assets i.e., plant and machinery, or constructs, refurbishes or fits out commercial…
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