THE Reserve Bank of Zimbabwe (RBZ) will this month conduct the final pilot testing of the Collateral Registry System, which allows the securitisation of movable property. The system, which has been in the making since 2017, is part of the central bank’s financial inclusion agenda and was delayed by Covid-19 disruptions. “The Collateral Registry System…
THE Reserve Bank of Zimbabwe (RBZ) intends to impose restrictions on bank service outsourcing because it believes that current practices pose a serious danger. Cloud banking, the most common of such services, enables financial institutions to operate key banking platforms and applications online. In his mid-term monetary policy statement last week, RBZ governor John Mangudya…
THE Reserve Bank of Zimbabwe (RBZ) maintains that the official exchange rate is the best indication of the value of the Zimbabwe dollar and contends that other economic indicators are influenced by speculation. RBZ governor John Mangudya stated last week in his mid-term monetary policy statement that the apex bank will implement steps to close…
THE government says it has completed 657 developmental projects out of the 1 688 that are being implemented as part of its 100-day cycle priority projects initiative. The programme, which was put in place by President Emmerson Mnangagwa after taking office in 2017, compels each ministry to come up with at least five projects per…
TRADE development and promotion body ZimTrade says the country’s exporters will next month meet to come up with resolutions to improve the ease of doing business in the sector. This comes as the Reserve Bank of Zimbabwe has said preliminary estimates show that merchandise exports increased by 33 percent to US$3,5 billion in the first…
ZB FINANCIAL Holdings (ZB) says its transformation that has seen the introduction of a new operating model under the mantra “One Digital ZB” is going according to plan. In an interview with The Financial Gazette this week, ZB group chief executive Shepherd Fungura described the digital journey as “good and more than what the company…
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…
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