A PRIVATE auctioneer will conduct “a rare public sale” of seven Civil Aviation Authority of Zimbabwe (Caaz) planes, meant for a 90s flying school, this weekend. While the country was “first enthralled” by a silver bird sale when Mbada Diamonds lost a 12-seater Cessna 208 Caravan in 2016 — snapped up by Kenneth Musanhi’s Central…
The Exchange Control (Payment for Electricity and Related Services in Foreign Currency by Exporters and Partial Exporters) Order, 2022 was published in Statutory Instrument 131/22 on July 11, 2022. I will refer to it as SI 131/22. It grants power to Zesa Holdings (Zesa) to charge exporters and partial exporters for electricity in foreign currency…
OK ZIMBABWE says the Treasury’s two percent intermediated money transfer tax (IMTT) is straining its profitability. In its 2021 annual report that was released on Tuesday, the retail giant’s chairman, Hebert Nkala said the government should review the levy. “The group continued to endure excessively during the year. The increase in the transaction thresholds had…
WITH environmental, social and governance (ESG) issues emerging as a priority on the global scene, a local think-tank has warned that Zimbabwe could lose export markets and capital if regulators and business do not catch up with the developed world. It comes as regulators around the world are shifting ESG principles from a moral responsibility…
LISTED agricultural concern, Ariston Holdings Limited (Ariston) suffered a 15 percent decline in tea volumes export during the quarter to June 30, 2022 due to shipping logistics disruptions. In a trading update for the third quarter to June 30, 2022, Ariston said selling prices improved by an average of six percent during the period under…
FINANCE minister Mthuli Ncube says the insurance industry, which is struggling to meet prescribed asset requirements, should look at private equity approved by the government. According to the latest Insurance and Pensions Commission (Ipec) reports, the majority of companies in the insurance and pension sector have failed to meet prescribed asset thresholds. Ncube told an…
THE University of the Witwatersrand’s African Centre for the Study of the United States (ACSUS) is set to honour United States (US) companies that are operating businesses in Africa.
AUTHORITIES are hoping that the first batch of 2 000 gold coins that the Reserve Bank of Zimbabwe (RBZ) has rolled out will help to stabilise the under pressure local currency and rising prices of basic goods. Speaking in Harare yesterday, RBZ governor John Mangudya said the coins — worth US$1 823,80 each or $805…
ZIMBABWE is this week hosting its annual Mining, Engineering and Transport Expo (Mine Entra) in Bulawayo. Our Senior Staff Writer Farai Mabeza (FM) speaks to Chamber of Mines of Zimbabwe president Colin Chibafa (CC) on the current state of the mining sector and outlook. Below are excerpts of the interview: FM: May you give us…
THE Zimbabwe Stock Exchange (ZSE) says it is in close engagements with a number of prospective issuers of real estate investment trusts (REITs), and anticipates listings to begin soon. A REIT is a company that owns, operates or finances income-producing real estate. The ZSE has been pursuing REITs for a while amid expectations that they…
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