TRADE development and promotion body ZimTrade says Zimbabwe can use Ghana as a springboard to access trade markets in the West African region. This comes after the organisation conducted a market survey in Ghana and the United Kingdom (UK) in May this year. “As ZimTrade, we always aim to provide up-to-date trade information and market…
FINANCIAL services group Old Mutual Zimbabwe (OM) has saluted “resilient and innovative” local companies in a challenging environment characterised by volatility, uncertainty, complexity, and ambiguity (VUCA).”
LOGISTICS Company Unifreight Africa (Unifreight) says it is expecting increased revenue and net profit following its investment in Zimplow, which has a wider distribution network. In a statement accompanying the group’s financial results for the year to December 31, 2021, Unifreight chairman Peter Annesley said the group will continue to look for opportunities to remain…
STEWARD Bank says it will continue to leverage its business strategy on the use of digital services to capture customers who have been excluded from the financial system as it credits cost containment measures for bringing back profitability. In a statement accompanying the bank’s results for the full year ended February 28, 2022, bank chairman…
ZIMRE Holdings (Zimre) says it will continue to focus on consolidation to capitalise on economies of scale while eliminating duplication of costs. In the company’s 2021 annual report published last week, chairman Benjamin Kumalo said the group would continue to pursue its “new DNA” of being a financial services group with core competencies in insurance,…
TOBACCO merchants have so far exported 78 440 301 kilogrammes (kgs) of tobacco valued at US$379,2 million, since the tobacco selling season opened on March 31. Addressing a post-Cabinet media briefing, Information minister Monica Mutsvangwa said the average export price for the golden leaf was US$4,85 per kg compared to US$3,94 per kg last year.…
LAST week, I discussed whether a contract can be validly concluded through email exchanges. This week I will deal with whether contracts can be concluded via social media platforms such as WhatsApp and Facebook. Social media refers to any website and application that allows its users to quickly share information with the public. Social media…
TAX compliance has become an issue, especially in developing countries like Zimbabwe where small to medium enterprises (SMEs) usually do not comply with the tax laws. Many economic players are functioning without registering with the Zimbabwe Revenue Authority (Zimra) for tax purposes. Poor tax compliance in Zimbabwe is mostly due to the fact that informal…
THE Zimbabwe Stock Exchange (ZSE) chief executive Justin Bgoni (JB) has projected a fine run for the main exchange’s subsidiary – Victoria Falls Stock Exchange (VFEX) – saying at least three companies were expected to list on the budding market this year. The US$-denominated exchange is designed to attract global capital, restore foreign investor confidence in Zimbabwe’s…
THE People’s Own Savings Bank (POSB) has launched a low-cost US dollar-denominated mobile money platform, POSB remit, as the mass market financial institution bids to increase touch points and enhance service delivery to drive up US dollar revenue. POSB Remit is a domestic money transfer service that allows both POSB and non-POSB individual customers to…
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