Page 411 – The Financial Gazette

TAX MATTERS: IMTT removal and the trade-off

Marvelous TaperaDecember 3, 202301.4K views

https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-298088.mp3?cb=1732287672.mp3THE Reserve Bank of Zimbabwe (RBZ)’s Monetary Policy Committee (MPC) recommended that the government removes IMTT on transactions that are intermediated through plastic bank cards and other digital platforms. The recommendation was part of resolutions of the MPC meeting held on October 23, this year. Prior to the MPC meeting, the Confederation of Zimbabwe Industries…

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COP28: Loss and damage finance cannot be ignored as drought looms in Zimbabwe

Adelaide Moyo, Group Managing EditorDecember 3, 202301.2K views

In the heart of Lupane, Matabeleland North, western Zimbabwe, lives Nomater Dube, a small-scale farmer, who upon gazing at her barren fields, recalls the lush green paradise of maize plants…

Severe El Niño shocks jolt Zimbabwe

Farai Mabeza, Senior Staff WriterNovember 30, 20230924 views

THE late start of this year’s rainy season is causing significant anxiety among both farmers and economic experts, amid rising fears for the country’s growth prospects going into 2024. The late onset of the rains has been attributed to strong El Niño climate patterns, which are forecast to reach peak intensity as this year ends,…

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Inflation remains ‘a concern’

Almot Maqolo, Staff WriterNovember 30, 20230779 views

CONCERNS remain over the destabilising impacts of currency volatility on the economy, with monthly inflation having shot up by two percent in November to 4,5 percent, the biggest rise since May. Year-on-year inflation for the month was 21,6 percent, compared to 17,8 percent in October. Economic analyst Prosper Chitambara said the relatively sharp rise in…

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Meikles’ employee costs surge 169pct

Mishma Chakanyuka, Staff WriterNovember 30, 20230786 views

MEIKLES says its employee costs, which made up 55 percent of operating costs, increased by 169 percent during the half year ended August 31, 2023. The diversified group’s chairman, John Moxon, said during the period under review, salaries and wages were fixed in US dollars at collective bargaining forums with an option to pay in…

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Mthuli expected to heed business’ concerns

Almot Maqolo, Staff WriterNovember 30, 20230826 views

FINANCE minister Mthuli Ncube is expected to pay attention to the concerns of business in his national budget statement today, which comes amid a number of pending recommendations from industry and commerce. It comes as business has urged the government to make additional tax adjustments in its 2024 budget, to further improve the local operating…

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Zimra cracks down on smugglers

Almot Maqolo, Staff WriterNovember 30, 202301.1K views

THE Zimbabwe Revenue Authority (Zimra) has initiated roadblocks and mall patrols as part of measures to enforce customs laws. Smuggling is considered a major problem for the country as the Reserve Bank of Zimbabwe estimates that as much as US$1,5 billion is lost each year through illicit flows. Zimra’s spokesperson Gladman Njanji said the patrols…

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‘Social integration crucial for brand equity leverage’

Mishma Chakanyuka, Staff WriterNovember 30, 20230799 views

COMPANIES should practise social integration of their identities for longevity and a higher return on brand equity, an expert has said. Speaking at the TBWA Brand Matters 2023 Event this Wednesday, brand strategist, David Duri said businesses without socially-integrated brands tend to be short-lived. “I think that brands that win or that last over a…

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Econet renews push for viable tariff regime

Farai Mabeza, Senior Staff WriterNovember 30, 202301.5K views

ECONET Wireless (Econet) says viable pricing of telecommunication services remains a key factor for the continued growth and sustainability of the industry. In a statement accompanying the company’s financial statements for the half year ended August 31, 2023, Econet’s chairman, James Myers, said the current volatile operating environment continued to significantly erode the benefits of…

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Trade deficit narrows in October

Mishma Chakanyuka, Staff WriterNovember 30, 20230961 views

ZIMBABWE’S trade deficit narrowed by 26,4 percent to US$69,6 million in October, as exports rose faster than imports, latest data from the Zimbabwe National Statistics Agency (ZimStat) shows. The country’s exports increased by 22,7 percent to US$831,9 million during the period. According to the Reserve Bank of Zimbabwe, the country’s average balance of trade between…

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Zimbabwe bets on green mining

Delta taps lighter beer trend

African contractors target US$330bn market

TAX MATTERS: IMTT removal and the trade-off

COP28: Loss and damage finance cannot be ignored as drought looms in Zimbabwe

Severe El Niño shocks jolt Zimbabwe

Inflation remains ‘a concern’

Meikles’ employee costs surge 169pct

Mthuli expected to heed business’ concerns

Zimra cracks down on smugglers

‘Social integration crucial for brand equity leverage’

Econet renews push for viable tariff regime

Trade deficit narrows in October