LOGISTICS firm Unifreight Africa Limited (Unifreight) says the shortage of foreign currency has hamstrung its operations due to failure to import key raw materials. In an annual report published last week, Unifreight chief executive Robert Kuipers said the group is left with no choice but to pursue the high-cost regional cross-border business to earn additional…
Paternity testing has become quite a contentious topic of late. In the past it has been reported that paternity discrepancy statistics in Zimbabwe stand at over 60 percent. Paternity discrepancy occurs when a child is identified as being biologically fathered by someone, other than the man who believes is the father. While paternity disparity has…
INEFFICIENCIES on the Reserve Bank of Zimbabwe’s (RBZ) foreign currency auction system have created reporting challenges for companies, worsening a situation created two years ago by conflicts between the country’s legislation and international accounting standards, recent financials have shown. Since February 2019, when the government gazetted a law ordering the conversion of US$ balances to…
AS THE local equities markets rally continues, Zeco Holdings topped the local bourse’s big performers for the third quarter, ahead of tobacco processor British American Tobacco (BAT) and tech innovators Cassava, official data shows. The steel fabricator put on 300 percent during the quarter to close at 0,12 cents, with all the gains coming over…
ZIMBABWE’S property market saw significant recovery during the third quarter of 2021, as the effects of the Covid-19 pandemic eased and the macro-economic environment continued to improve, a wealth management firm has said. In its economic and market review for the three months to September 2021, First Mutual Wealth (FMW) said transactional and development activity,…
BUSINESS has implored authorities to act decisively on the recurring problems at Beitbridge border post, which last week experienced mayhem after a massive freight blockade paralysed movement of goods at southern Africa’s busiest inland port. This comes as the Zimbabwe Revenue Authority (Zimra) this week dispatched a high level team to try and restore normalcy.…
SPEAKER of parliament, Jacob Mudenda has urged business to progress from mere lobbying and assume a more active role in the Zimbabwe’s legislative process, for a better operating environment and for the benefit of the country’s economic recovery pursuit. Speaking as a special guest at the Zimbabwe National Chamber of Commerce’s (ZNCC) annual congress held…
AGRICULTURE ministry permanent secretary John Bhasera, says the sector is well on track to surpass 2025 growth targets after a 34 percent rise during the 2020/21, against a mark of 11-12 percent. Last year, the government launched the Agriculture and Food System Transformation Strategy (AFSTS) to accelerate agriculture production, productivity and profitability in line with…
THE Zimbabwe Anti-Corruption Commission (Zacc) says it has filed asset confiscation and unexplained wealth orders worth US$4,8 million at the High Court that are still pending. The anti-graft body’s chairperson, Justice Loice Matanda-Moyo, told a Zimbabwe National Chamber of Commerce (ZNCC) congress last week, that 36 cases were handled in 2020, while 10 cases with…
INDUSTRY has made a fresh plea to the government for a review of the two percent Intermediated Money Transfer Tax (IMTT), insisting the levy is overburdening business, which is already struggling to survive impacts of the Covid-19 pandemic. The much-debated levy was introduced in October 2018, when the government launched its austerity programme —…
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