Page 440 – The Financial Gazette

South Africa’s GDP beats forecasts despite war hit

Property sector set to benefit from Title Deed Validation Drive

Treasury directs funding into cancer treatment

Independent power imports to increase production costs

Emmerson Njanjamangezi, Group Features EditorDecember 8, 20220666 views

BUSINESS says the government’s decision to allow individual companies to independently import electricity will further strain the hard-pressed productive sectors of the economy. This comes as Zimbabwe Electricity Transmission and Distribution Company (ZETDC) acting managing director Howard Choga gave industry the green-light to independently import power from the region. Confederation of Zimbabwe Industries (CZI) president…

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Potraz to expand 4G coverage

Farai Mabeza, Senior Staff WriterDecember 8, 20220697 views

THE Posts and Telecommunications Regulatory Authority (Potraz) says it wants to improve the 4G network coverage footprint in the country to around 87 percent and make it Zimbabwe’s baseline broadband technology. This comes as Potraz also says that it is working on 22 sites across the country under the Universal Services Fund (USF) to establish…

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Government touts private sector role

Farai Mabeza, Senior Staff WriterDecember 8, 20220655 views

THE government says it is committed to private-sector-led sustainable economic development and expects the sector to supplement its efforts by taking advantage of opportunities, such as collaboration with state institutions to produce globally competitive brands. Finance deputy minister Clemence Chiduwa last week told delegates at a conference hosted by the Zimbabwe Institute of Strategic Thinking…

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Zimplow to leverage on government’s agriculture, mining drive

Mishma Chakanyuka, Staff WriterDecember 7, 20220557 views

ZIMPLOW Holdings (Zimplow) says business is poised to leverage the potential growth prospects that are presented by the government’s renewed thrust on agricultural productivity, infrastructural development, and the evolution of the mining industry. This comes as the government is currently pushing towards improving agricultural productivity, the mining industry, and infrastructure development as it is targeting…

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Lack of competitiveness hurts farming sector

Farai Mabeza, Senior Staff WriterDecember 4, 20220636 views

A HIGH cost of production has made Zimbabwe’s agriculture sector uncompetitive on the export market, the recently released fourth edition of the annual Agricultural Sector Survey has shown. The survey is carried out jointly by the Zimbabwe Agricultural Society, CBZ Holdings and The Financial Gazette, who have commissioned the African Economic Development Strategies (AEDS) as…

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Praz raps government entities

Omega UkamaDecember 4, 20220967 views

THE Procurement Regulatory Authority of Zimbabwe (Praz) says government entities should comply with public purchasing laws to ensure value for money. In August, the Treasury temporarily held payments on invoices for goods and services tendered to state entities to allow audits amid concerns about weaknesses in public procurement processes. The government has since set up…

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NVCCZ: Government courts private capital

Farai Mabeza, Senior Staff WriterDecember 4, 20220963 views

FINANCE minister Mthuli Ncube says the government wants to partner with the private sector in capitalising the National Venture Capital Company of Zimbabwe (NVCCZ) after setting aside $4 billion for the vehicle in the 2023 national budget. The government established the NVCCZ in 2020 and it had up until now been capitalised to the tune…

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TAX MATTERS: Is taking informal traders head on enough?

Marvelous TaperaDecember 1, 20220825 views

THE Minister of Finance and Economic Development has, through his 2023 budget speech, announced a drive to rein in the informal sector, which has caused havoc to domestic revenue mobilisation. This drive comes as a means to fulfil the formalisation of the informal sector, something that has for a while been of huge concern to…

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Budget is good, but falls short — experts

Mishma Chakanyuka, Staff WriterDecember 1, 20220594 views

BUSINESS says while Finance minister Mthuli Ncube’s 2023 national budget contains many positive aspects, it does not go far enough to lift the country’s economy. Speaking to The Financial Gazette this week, captains of commerce and industry said much more would need to be done to boost companies and the economy. The chief executive officer…

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City hotels bounce back from Covid-19 slump

Farai Mabeza, Senior Staff WriterDecember 1, 20220569 views

HOSPITALITY concern Rainbow Tourism Group (RTG) says increased economic activity in the wake of the removal of Covid-19 restrictions have seen city hotels’ occupancies improve to pre-pandemic levels. In a trading update for the nine months ended September 30, 2022, RTG said revenues under its hotels segment continued to grow as economic activity returned to…

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