FISCAL authorities’ clampdown on ZWL payments in the third quarter is unintentionally fast-tracking dollarisation, a local investment and research firm has said. The tight stance on payment of government service providers and the mopping up of ZWL$9 billion from the economy through gold coins starved the market of liquidity and helped reduce money supply growth.…
GETBUCKS Microfinance Bank (GetBucks) is optimistic that its newly charted US dollar business avenues will cushion it from challenges in Zimbabwe’s broader economy for the foreseeable future. The institution reported an inflation-adjusted loss of $44 million for the half-year to June 30, 2022, which chairman Rungano Mbire said was on the back of depressed lending…
ECOCASH Holdings Zimbabwe (EcoCash) says product innovation provided a solid base for the firm to provide relevant digital solutions that address consumer needs, raising the company’s revenue in the 2022 financial year. For the period under review, EcoCash launched several exciting products and solutions that include the automation of merchant settlements, a self-care portal for…
GENERAL Beltings Holdings (GB) says it deferred paying out a dividend for the half-year to June 30, 2022, opting to consolidate funds to oil its capitalisation plans as the firm urgently needs working capital. This comes as the firm took a heavy battering from the Covid-19 pandemic in the prior period, which affected demand for…
THE sale and purchase of land in Zimbabwe, particularly urban land, has always been mired in drama and controversy. All too often we hear of people who have been duped of their hard-earned money in a land deal. The good news is that most of the pitfalls associated with buying land are avoidable if one…
THE law requires an employer to withhold and remit employees tax (PAYE) in accordance with the tax deduction tables. There exists separate PAYE tax tables for foreign and ZWL$ earnings and the former tables are to be used when earnings are part or wholly in foreign currency. The updated Finance Bill, which is yet to…
BUSINESS is on tenterhooks amid the storm clouds gathering over the global economy, the intensifying war in Ukraine and the labour unrest that has shut down key ports in neighbouring South Africa (SA). Speaking to The Financial Gazette yesterday, business leaders expressed fears that the triple whammy of exogenous economic headwinds could retard local GDP…
THE Insurance and Pensions Commission (IPEC) says funeral assurers in Zimbabwe stand to benefit from new mortality tables that the industry regulator is working on. Mortality tables are compilations of death probabilities for a population. They are used by insurance companies to price products and to calculate reserves. The tables that are currently being used…
THE Zimbabwe Stock Exchange (ZSE) has maintained a lead over other exchanges in Africa, despite its slump in the third quarter which saw it temporarily dipping into year-to-date (YTD) losses. The market closed Friday with YTD gains of 20,76 percent, ahead of the Malawi Stock Exchange (19,84 percent) and the Lusaka Securities Exchange (19,3 percent).…
ZIMBABWE’s ambassador to Zambia, Charity Charamba, says the country’s mining equipment suppliers have an opportunity to create long-lasting relationships in Zambia’s mining heartland of Copperbelt Province. This comes as trade development and promotion body ZimTrade is hosting an outward trade mission to Zambia this week in the city of Kitwe, in the Copperbelt. “Zimbabwean companies…
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