THE Zimbabwe Agriculture Society (ZAS) says this year’s show, which will showcase synergies between agriculture and mining, has been boosted by a strong farming season and firmer mining commodity prices. The 111th edition of the country’s premier exhibition, the Zimbabwe Agricultural Show, organised by ZAS, is scheduled for end of this month and will be…
CABS nearly doubled its loan book during the half year to June from $8,51 billion as at December 31, 2020 to $16,38 billion as the firm increased lending in the wake of an improved economic environment under reduced Covid-19 restrictions. In the six months ending June 30, 2021, the society increased its foreign currency loan…
ZIMBABWE’S horticulture sector is targeting new markets in the region to reduce its over reliance on South Africa, after it suffered huge disruptions during the civil unrest experienced in the neighbouring county in July. Although South Africa is a top local, regional and international fresh produce supplier, it is also the biggest importer of fruit…
STANDARD Chartered Bank has reported an inflation adjusted profit after tax of $517,6 million for the half year ended June 30, 2021 up from $382,8 million as revenue grew by 49 percent, underpinned by growth in both interest and non-funded income. Standard Chartered chairman, Lovemore Manatsa, said the operating environment which he described as challenging…
BUSINESS has called on the government to revise its treatment of levies on mobile telecommunications services, saying the current arrangement amounts to double taxation and threatens operators’ viability. In 2014, the Treasury introduced a special excise duty on airtime (SED) at five percent, which was subsequently revised to 10 percent in 2017. According to the…
FORMULA 1 will make rule changes to prevent a recurrence of the events at last Sunday’s Belgian Grand Prix, motorsport boss Jean Todt says. Lewis Hamilton said the event, called off in heavy rain, was a “farce”. A result was declared after drivers were sent out for two laps behind the safety car. Todt, the president of governing…
ZIMBABWE Investment Development Agency (Zida) recently signed a MOU with Singapore Cooperation Enterprise (SCE) for the cross pollination of ideas to develop special economic zones (SEZs) and other investment promotion initiatives in the country. The Asian nation ranks among the top countries on the World Bank Ease of Doing Business index and is considered a…
INFRASTRUCTURE Development Bank of Zimbabwe (IDBZ) is seeking partners to finance the development of cluster housing in Harare and Kadoma. IDBZ intends to develop the cluster houses at properties it already owns as well as other assets owned by third parties. In a notice last week, IDBZ said the project entails the engineering, procurement, construction…
NATIONAL Tyre Services (NTS) says its sales volumes were up by 162 percent during the quarter ended June 30, 2021, spurred by slowing inflation and Zimbabwe’s bumper harvest this year. In a trading update this week, the company said volumes were also driven by stock availability and focused marketing initiatives. “Notwithstanding the challenges of the…
BUSINESS is lobbying authorities to spend at least half of the US$1 billion windfall from the International Monetary Fund (IMF) on the productive sector, to further stimulate economic growth and help companies recover from the negative effects of Covid-19. Speaking to The Financial Gazette this week, after the IMF released its much-needed Special Drawing Rights…
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