AS THE country continues to grapple with rolling power cuts there is a need for a lasting solution to deal with the challenge. In light of this our News Editor Tendai Kamhungira (TK) spoke to Solgas Energy co-founder and chief operating officer Petros Kazungu (PK), pictured, on how his company is contributing towards ending load-shedding…
THEFT and vandalism of electricity, rail and telecoms infrastructure is bleeding the local industry as local firms continue to report multiple cases, piling pressure on margins. While the government has banned the export of scrap metal to neighbouring South Africa, the local trade of scrap within the informal sector remains loosely controlled and monitored and…
THE Zimbabwe Revenue Authority (Zimra) must tax remote income at a lower flat rate to encourage voluntary compliance for people working for companies not resident in Zimbabwe, a local tax expert has said. In a presentation at the Tax Matrix School, 2022 mid-term fiscal budget review last week, Trendset Tax and Advisory managing director David…
DOING business is never an easy endeavour. Doing it in Zimbabwe is an even trickier proposition, because of all the financial and regulatory challenges facing businesses. Several businesses have had to adapt and develop workarounds that keep them viable, while remaining compliant with the law. At one point, businesses had to circumvent a law that…
THE market push towards dollar-based trading poses significant risks for the country and its revenue collection efforts, Finance minister Mthuli Ncube says. At the same time, economic experts told The Financial Gazette this week that authorities had made the fiscus’ situation worse through the “over-regulation” of the formal sector — which was driving business activity…
ECONET Wireless Zimbabwe Limited (Econet) says it hopes the country adopts a scientific and fact-based telecommunications tariff adjustment structure as it finds current rates below viable levels. This comes after the telecommunications sector was granted a staggered tariff adjustment by the Postal and Telecommunication Regulatory Authority of Zimbabwe (Potraz) of 61 percent in July 2022,…
BUSINESS says Finance minister Mthuli Ncube must speed-up the Arrears Clearance, Debt Relief and Restructuring Strategy (ACDRR) to enable the country to access new lines of credit to boost industry and the economy. This comes as the country’s domestic and foreign debt stood at Z$1,3 trillion and US$13,2 billion respectively as at June 30, 2022,…
THE government should consider the informal structure of the economy when drafting policies to contain inflation and stabilise the exchange rate, the Zimbabwe National Chamber of Commerce (ZNCC) has said. In an interview with The Financial Gazette this week, ZNCC chief executive Chris Mugaga said the biggest challenge that authorities were facing in stabilising the…
THE value of Zimbabwe’s exports amounted to US$666,6 million in June, a 29,9 percent increase from US$513,1 million recorded in May, the Zimbabwe National Statistics Agency (Zimstats) has said. In its latest trade update, Zimstats said during the month under review, imports amounted to US$750,5 million. “The value of total exports in June 2022 was…
TANGANDA Tea Company (Tanganda) says it will prioritise cost containment measures in the second half of the year as inflationary pressures are expected to persist, a situation which has been worsened by global shocks. In a trading update for the quarter ended 30 June 2022, the diversified agro-based firm said surging inflation on the backdrop…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More