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…
ZIMBABWE and Zambia’s proposed Common Agro Industrial Park (CAIP), presents a great opportunity for the two countries to improve their trade within the context of the African Continental Free Trade Area (AfCFTA), a government official has said. This comes as representatives of the two countries’ private and public sectors gathered in Harare this week for…
ZIMBABWE is set to derive some intellectual benefits from a summit dubbed, “The Agenda for Africa Industrialisation and Trade”, to be held in South Africa (SA) in October. The event will draw various government officials and private sector stakeholders from across the African continent. According to the event organiser, Panichi Gundo, the summit will be…
FINANCE minister Mthuli Ncube says the government is close to finalising a deal to raise funds for the compensation of white commercial farmers displaced during the fast-track land reform programme. This comes after Ncube held a meeting, just over a week ago, with some of the farmers in Harare to discuss the potential deal to…
HIPPO Valley Estates (Hippo Valley) says it is set to fast-track opportunities for expansion with old and new sugarcane projects, feeding off the Tugwi-Mukosi and Mtirikwi Dams which are close to full capacity to increase revenue and capacity utilisation. The sugar-processor said improvements in yields on existing farms are expected going forward due to increased…
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