BUSINESS wants the upcoming 2023 national budget to provide tax relief and support to both commerce and industry, which are still wrestling with the effects of the Covid-19 pandemic and imported inflation. The president of the Zimbabwe National Chamber of Commerce (ZNCC), Mike Kamungeremu, said this week that his business lobby group had already made…
HWANGE Colliery (Hwange) is targeting increasing coking coal production and sales in a bid to increase capacity to discharge obligations to creditors. This comes as the local and export demand for high-value coking coal continues to surge, driving revenue for the coal miner, which is under administration. Hwange was placed under administration by a reconstruction…
RISING costs of raw materials, inefficiencies in the allocation of forex through formal channels, rolling blackouts and the high cost of capital continue to stifle business in the country, a local research firm has said. As the global supply chains were disrupted by Covid-19 and the Russo-Ukrainian war, local manufacturers, especially agro-processors were left to…
NMB Bank (NMB) this week signed a US$10 million, three-year line of credit facility to support export-focused companies with the Eastern and Southern African Trade and Development Bank (TDB). NMB chief executive Gerald Gore said the credit line would be deployed to support corporates with trade-enabling working capital needs and capital expenditures. “NMB has been…
THE Zimbabwe National Chamber of Commerce (ZNCC) says it will take advantage of the International Manufacturing Conference and Exhibition (IMCE) in Cairo, Egypt this weekend to create business links for local companies. ZNCC president Mike Kamungeremu will attend the event, which will run from October 29 -31, following an invitation by the Federation of Egyptian…
BUILT environment experts say the country should come up with a national spatial data infrastructure (NSDI) policy. The experts met in Harare last week under the umbrella of the Zimbabwe Institute of Geomatics (ZIG) during the organisation’s annual conference. The geomatics profession is made up of several fields that include geographical information science, engineering survey,…
BUSINESS leaders say there is a need to renew the country’s economic diversification drive as primary products continue to dominate exports. Confederation of Zimbabwe Industries president Kurai Matsheza said industrialisation was key in expanding the economy. “There is a need to diversify, obviously, our production processes. Mining and services are coming up but more than…
WITHHOLDING tax on local contracts is not one of the most celebrated measures in the country and that being the case, the law seems to not pay much attention to that either. This is seen through the latest Bill that has reinforced the law on local contracts by including the word “over the year of…
ZECO Holdings’ (ZECO) stock is leading the Zimbabwe Stock Exchange (ZSE) gainers this year, having so far put on 560 percent, official figures show. The property investment and development firm, which just recently pivoted from being a rolling stock company, has been technically undervalued for years, with a market anchoring capitalisation of about $15 million…
TIME Bank of Zimbabwe Limited (Time Bank) has been given a licence to resume operations by the Reserve Bank of Zimbabwe (RBZ). The bank, renowned as the first locally owned commercial bank to be established in the country, was first licensed in 1997. Chris Wesley Takura Tande was the founder of the bank. Time Bank…
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