AIM-listed Caledonia Mining Corporation has announced the transfer of a total of 76 530 common shares to outgoing chief executive Steve Curtis and chief financial officer Mark Learmonth. This follows the maturing of long-term incentive plan awards this month which were made under the 2015 omnibus equity incentive compensation plan of the company. In a…
THE Zimbabwe National Chamber of Commerce (ZNCC) says the government is warming up to its recommendations from its recently launched Inaugural State of Industry and Commerce Survey for 2021, aimed at improving the business operating environment. The survey report, conducted in partnership with The Financial Gazette and the Friedrich Naumann Foundation and released last December,…
THE Airports Company of Zimbabwe (ACZ) will revamp the Kariba Airport in the second half of the year, following the completion of the US$2,5 million upgrade of Buffalo Range Airport in Chiredzi. In line with the “Open Air” policy in the five-year economic plan — the National Development Strategy 1, the government is seized with…
THE Financial Intelligence Unit (FIU) says Zimbabwe has made progress in addressing anti-money laundering and counter financing of terrorism (AML/CFT) deficiencies and could be removed from non-compliant countries by the end of this quarter. Zimbabwe was listed by the Financial Action Task Force (FATF) on the “grey list” of non-compliant jurisdictions in October 2019 and…
ZIMBABWE levies a number of withholding taxes to be guaranteed off revenue collection, some of them on payments of non-resident persons, but of our concern in this article is withholding tax on local contracts. Withholding tax on local contracts is deducted on any payment made to a local counterparty (supplier) without a tax clearance, as…
THE farming season is upon us. This means that various crops, including maize and tobacco, are now in the fields. This also means that the seasonal question of how and why one must insure their crops has to be addressed as well. In this article, I will deal with tobacco insurance in light of the…
AUTHORITIES and business leaders agree that undue increases in government and state-owned enterprises’ (SOEs’) prices will stoke the country’s inflation. This comes as a number of key government functions, SOEs and local authorities have recently hiked their tariffs and fees, hurting businesses and consumers. Alarmed by this, economists have warned that inflation could spike this…
THE Tourism Business Council of Zimbabwe (TBCZ), says the country should step up enforcement of Covid-19 protocols, such as masking up and social distancing, to avoid future lockdowns and avert a total collapse of the sector. Infections had been waning towards the end of last year but have been on the rise since the discovery…
THE Reserve Bank of Zimbabwe (RBZ), says it is investigating foreign currency manipulations by some business entities. This comes as the apex bank, a fortnight ago, said it had disbursed US$2,6 billion through its weekly foreign currency auctions since the introduction of the system in June 2020. In a statement yesterday, RBZ governor John Mangudya…
LANDLORDS will lean more towards charging rentals in US$ and giving tenants shorter lease agreements this year amid persistently high inflation, a wealth management firm has said. In its economic and market review for 2021 and 2022 outlook, First Mutual Wealth (FMW) said the economy has been rapidly dollarising in the background as most rental…
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