Government mulls compulsory insurance for farmers

THE government is considering introducing compulsory insurance cover for smallholder farmers, particularly those benefiting from the Presidential input support programme, Pfumvudza, an official has revealed. Insurance uptake in agriculture has been low, with economic feasibility, confidence and lack of awareness cited as major deterring factors. According to the industry regulator, the Insurance and Pensions Commission,…

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NSSA engages ZIDA on occupational safety

THE National Social Security Authority (NSSA) wants to be part of the Zimbabwe Investment Development Agency (ZIDA)’s one-stop-investor shop in order to induct foreign investors on occupational safety and health (OSH) requirements to reduce accidents and fatalities at the workplace. The quest to induct foreign investors on the OHS legislative framework comes amid rising accidents…

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PPC focuses on competitiveness

CEMENT producer, PPC Zimbabwe says it has had to come up with new products to find new export markets in the region as it tries to counteract a lack of competitiveness arising from high costs of production in the country.Zimbabwe’s cement manufacturing sector has been hit hard by high production costs in the country, and…

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Getbucks’ deposits fall

GETBUCKS Microfinance Bank (Getbucks) says customer deposits declined by 53 percent to $66 million during the half-year ended June 30, 2021, mostly due to the low interest rates offered on sureties over the period. The deposit taking microfinance bank hopes some policies adopted by the central bank to encourage banks to pay higher rates for…

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Zimbabwe eyes international commodities exchange

THE Victoria Falls Stock Exchange (VFEX) is working with the Dubai Gold and Commodities Exchange (DGCX) in framing a clearing and settlement commodities exchange framework, which will pave the way for increased investment on the platform. Speaking at Victoria Falls commodities exchange workshop in the resort town yesterday, Finance minister Mthuli Ncube said DGCX would…

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LEGAL MATTERS: Changing complexion of labour litigation in the face of Covid-19

ZIMBABWE is making significant strides in dealing with the Covid-19 pandemic. The debate over employers’ and employees’ rights vis-à-vis vaccination, working from home and so on is still very much alive and concrete solutions are yet to be arrived at. The pandemic continues to shape how we work and as a means of coping, several…

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ECONOMIC & MARKET INTELLIGENCE: Big data and data sharing in insurance sector

ONE of the discussion topics at the 43rd Organisation of Eastern and Southern Africa Insurers (OESAI) conference that was held from August 21-25, 2021 in Mombasa, Kenya was titled, “Leveraging Big Data and Data Sharing: Managing and Enhancing Stakeholder experiences in Insurance markets”. The paper was presented by Tendai Karonga, Insurance Council of Zimbabwe (ICZ)…

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TAX MATTERS: Transfer pricing comparability analysis

TRANSFER pricing is based on comparable analysis of profits of an associated party in a controlled relationship with those of uncontrolled taxpayers to determine whether they have been made at arm’s length dealings. A controlled transaction meets the arm’s length standard if the results or conditions of the transaction are consistent with those found, made…

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Fidelity eyes regional markets

FIDELITY Life Assurance of Zimbabwe (Fidelity) is planning to expand into the region to position itself for “real growth.” In a statement accompanying the group’s results for the six months to June 30, 2021 published last week, former group chief executive Reuben Java said Fidelity is adopting a strategy to widen its footprint in the…

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Murowa’s gem production dips

RIOZIM’s associate Murowa’s diamond production declined by four percent to 240 000 carats during the half-year ended June 30, 2021. Group chairman Saleem Beebeejaun said the decline was a result of the lower-grade ore processed from the K2 pit throughout the period after migration of mining activities from the depleted high-grade K1 pit. “Despite the…

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