STOCKS now constitute a larger portion of pension fund portfolios on account of the faster rate at which the asset class has been re-valuing, relative to other classes, the industry regulator has said. In its latest report on the sub-sector, the Insurance and Pensions Commission (Ipec) said quoted equities, at $246,94 billion, constituted 50,59 percent…
THE Cass Saddle Agriculture Exchange Traded Fund (ETF) has had a strong start on the Zimbabwe Stock Exchange, gaining 32 percent in its first four trading sessions despite the current bear market. ETFs are funds that track the performance of a specified security which include but are not limited to indices, commodities, currencies or any…
DIVERSIFIED telecommunications group, Econet Wireless Zimbabwe (Econet) says the high taxes levied on the telecoms sector continue to pile pressure on the group’s margins, curtailing network expansion projects. In a statement accompanying financial results for the year ended February 28, 2022, Econet chairman James Myers said the industry is currently subject to 10 percent excise…
Most people are asking why it is legal to trade in gold coins now when it has generally been the position that individuals cannot trade in gold. The point of departure is to assure the public that buying and selling gold coins is in compliance with section two of the Gold Trade Act, which allows…
FINANCE minister Mthuli Ncube’s mid-term budget review expected this month-end must consider submissions made by business. Already, the country’s biggest business organisations have called on treasury to offer tax breaks to cushion industry, which might help reduce the cost of doing business as well as prices of goods and services. The intermediated money transfer tax…
THE desperation of investors seeking liquidity to pay down high interest rate borrowings is undervaluing stocks on the Zimbabwe Stock Exchange (ZSE), a financial services firm has said. First Mutual Wealth (FMW), said despite this, the market remains an inflation hedge and offers decent value retention and growth prospects amid high inflation. “It is an…
MINERS have called for the upward review of foreign currency retention threshold from 60 to 80 percent to allow them to meet their increased forex demands as well as operation and expansion costs. In their proposal to the treasury seen by The Financial Gazette, ahead of the midterm budget statement expected at the end of…
BORDER Timbers Limited will now focus on growing the business and regaining market share following its exit from judicial management early this year. In a trading update for the third quarter to March 31, 2022, finance director Lysius Karimanzira said the company completed its turnaround strategy during the first quarter of the year, culminating in…
THE Insurance and Pensions Commission (Ipec) says it is working with industry to improve pension benefits, which it says are currently “very low”. In its latest report on local pension funds, Ipec said the subsector’s asset base of $488,12 billion as at March 31, 2022, translates to an average asset share per member, including beneficiaries,…
THE gold coins set to be available for sale next Monday will be a store value against the depreciating Zimbabwe dollar, economic analysts have said. Speaking in a policy dialogue discussion organised by former State Enterprises and Parastatals minister Gorden Moyo’s Public Policy and Research Institute of Zimbabwe, economist Eddie Cross said the gold coins…
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