BINDURA Nickel Corporation (BNC) says it expects the Kingstone Hill project — a new mining venture — to contribute significant ore feed to its smelter, which is undergoing upgrades to increase capacity to 160 000 tonnes of nickel concentrate. The refurbishments of the smelter, which was mothballed following the closure of the firm’s Shangani and…
ZIMBUILD Property Investments chief executive and immediate past president of the Zimbabwe National Chamber of Commerce, Tinashe Manzungu, says he will seek opportunities to raise capital for infrastructure development in the country during an international indaba set for the United Kingdom next month. Manzungu, who will be a guest speaker and honouree at the 2023…
THE Confederation of Zimbabwe Industries (CZI) will today release the 2022 Manufacturing Sector Survey at an event to be attended by Industry minister Sekai Nzenza. The highly-anticipated survey provides a detailed look into the performance and state of Zimbabwe’s manufacturing sector between January and December 2022, and is nationally representative. The sector is at the…
The tax treatment of assessed losses in Zimbabwe is an important issue for businesses operating in the country. With highly-volatile economic conditions, companies should understand the tax treatment of assessed losses. Losses are not bad for tax purposes, but what’s key is for a business to stay afloat and eventually turn its fortunes around. The…
The crisis facing the US banking system “is not yet over,” the head of America’s biggest bank has warned. Jamie Dimon, chief executive of JPMorgan Chase, made the comments in an annual letter to shareholders just weeks after the dramatic collapse of two major US banks. He said he did not expect the turmoil to lead to…
IT is trite to say that tax evasion is not only a problem in Zimbabwe but also in other countries. The twin devils, tax evasion and avoidance, are problems, which seem to have defied solution and have bedevilled the Zimbabwe tax system since time immemorial. Tax evasion, which is usually a precursor to corruption, has…
CBZ Agro-Yield says it will this winter season invest US$45 million in the wheat crop on a targeted 30 000 hectares, up from US$30 million on 22 000 hectares last year. This comes as the government has said the country will increase the area under wheat from about 80 000 hectares to 85 000 hectares…
THE Confederation of Zimbabwe Industries (CZI) has voiced dissatisfaction with the manufacturing sector’s employment capacity, which, according to the body, accounts for only eight percent of all jobs in the country. This pales in comparison to the wholesale and retail trade sector, which is the largest employer in the economy at 26,9 percent of the…
WILLDALE Limited (Willdale) spent $1,9 billion on local suppliers in 2022, representing a 206 percent increase from $624,48 million in 2021. The company, the only brick maker with a publicly-traded stock, saw a sharp decline in import spending over the period. In 2020, the brickmaker spent $531,45 million on local suppliers. Willdale chairperson Cleopas Makoni…
TSL Limited (TSL) says its logistics business unit will continue to scale up rail volumes across a broad spectrum of commodities from both Maputo and Beira ports in a bid to widen its customer base. The diversified group said handling volumes were significantly ahead of prior year, as the unit acquired additional business from both…
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