Page 466 – The Financial Gazette

Ncube scraps proposed cash withdrawal levy

Innscor frets over proposed VAT hike

Innscor unit targets 75 percent national potato output

TAX MATTERS: Covid-19 vaccines tax treatment

Marvelous TaperaMarch 18, 20210395 views

https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-269787.mp3?cb=1732295270.mp3THE lockdowns, which many governments have put in place since the emergence of the Covid-19 pandemic, have placed involuntary trade embargoes within or without their national borders and this has had a severe economic impact especially on establishments relying on actual customer contact. These are also threatening the livelihood of the low-income earners. There is…

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ECONOMICS & MARKET INTELLIGENCE: The non-fungible tokens boom

Batanai MatsikaMarch 18, 20210403 views

FOR many years now, investing was driven by ticker symbols and traditional asset classes such as properties and commodities. However, this is fast-changing as there is now room for passion-aligned investing that extends from digital art to sports clips and cat cartoons. A new trend that is baffling many is that of the investment in…

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Govt to wean off land bank in two years

Farai Mabeza, Senior Staff WriterMarch 18, 20210603 views

THE government expects the recently established Land and Agricultural Development Bank of Zimbabwe (LADBZ) to be self-sustaining by the end of 2023, a Cabinet minister has said. The LADBZ was set up following a restructuring of the state-owned Agribank. It will this year receive $700 million from the national budget. The government has also said…

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ACZ, Caaz set to split assets, liabilities

Farai Mabeza, Senior Staff WriterMarch 18, 20210747 views

THE Airports Company of Zimbabwe (ACZ) is waiting for the government to gazette a statutory instrument that will spell out the separation of assets and liabilities, as the firm completes its unbundling from the Civil Aviation Authority of Zimbabwe (Caaz). The process, which started in 2018 seeks to avoid a conflict of interest and comply…

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ECONOMICS & MARKET INTELLIGENCE: Covid shocks de-railing growth for regional players

Batanai MatsikaMarch 17, 20210524 views

THERE appears to be consensus that global and regional growth prospects in 2021 are hinged on the pace of vaccine deployment. The World Bank estimates that in a downside scenario, global growth will be much more subdued at -1.6 percent in 2021 and 2.5 percent in 2022 if vaccine deployment is delayed and the pandemic…

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Construction sector borrowing soars

Omega UkamaMarch 14, 20210372 views

THE construction sector’s offshore borrowing increased a hundredfold to US$293,8 million in 2020, from US$2,9 million in 2019, data released by the Reserve Bank of Zimbabwe (RBZ) shows. It comes as the country’s deteriorating economic environment, headlined by high inflation and currency volatility, has kept domestic lending at a minimum. The official data, which was…

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‘Pfumvudza to be an entrenched way of farming’

Farai Mabeza, Senior Staff WriterMarch 14, 20210351 views

ZIMBABWE is this year looking at a promising agriculture season after two consecutive years of drought. The Financial Gazette’s Staff Writer, Farai Mabeza (FM), speaks to Agriculture minister, Anxious Masuka (AM), on government preparedness and plans for the sector. Below are the excerpts of the interview. FM: Zimbabwe looks set for a good harvest this…

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TAX MATTERS: Of taxes, interconnection fees in telecoms industry

Marvelous TaperaMarch 12, 20210523 views

The Telecommunications industry has been witnessing remarkable growth and transformation in the past few decades, and this trend is expected to continue in the future. The progressing business models, efficient policy changes coupled with effective implementation are the need of the hour as they play a fundamental role in the sustenance, promotion, and growth of…

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Business pleads for more government prudence

Farai Mabeza, Senior Staff WriterMarch 11, 20210431 views

AS ZIMBABWE’S economy continues to recover, industry has implored authorities to intensify policy interventions which have boosted business over the past few months. Speaking last week at the launch of the Confederation of Zimbabwe Industries’ (CZI) 2020 manufacturing sector survey report, business leaders also said it was very important that the government sustained the current…

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Collateral registry to be operational by year-end

Omega UkamaMarch 11, 20210650 views

THE Reserve Bank of Zimbabwe (RBZ) says a national collateral registry, which it is setting up to allow the securitisation of movable property, will be operational by year-end after it identified a software provider. In December last year, Finance minister Mthuli Ncube said the software procurement had been disrupted by the Covid-19 pandemic. “The bank…

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