THE Zimbabwe Revenue Authority (Zimra) wants to complete its ICT systems revamp by year end, in line with its current digitisation strategy to speed up operations at ports of entry, as well as to plug the smuggling of goods into the country. Acting Zimra commissioner general, Rameck Masaire, told the Parliamentary portfolio committee on budget,…
PLAYERS in the tobacco industry are bullish about the country achieving the 200 million kg production following a good agriculture season, improved availability of inputs and increased hectarage. However, there are still lingering questions over the foreign currency retention ratios and exchange disparities which farmers fear would worsen side marketing. This comes as the government…
THE Zimbabwe Investment and Development Agency (Zida) says it is speeding up the processing of applications for investment in special economic zones (SEZs). To date, Zimbabwe has designated a total of 15 SEZs across the country which are at different stages of implementation. Zida’s special economic zones manager Nyasha Mupita told a recent business conference…
THE value of transactions processed through the National Payment System (NPS) rose to $96,8 billion during the week ending April 30 from $73,2 billion in the prior week, latest figures have revealed. According to the Reserve Bank of Zimbabwe’s (RBZ) latest weekly economic review, Real Time Gross Settlement (RTGS) rose by 32,2 percent to $80,60…
A MERGER between Dairibord and Dendairy’s would result in a super outfit with domineering capacity, an equities firm has said. Dairibord accounts for 38 percent of the national milk intake and a merger with Dendairy’s will give it control of a larger portion of the market. Talks are underway on the deal, which was first…
RAINBOW Tourism Group (RTG) says revenue from its digital platform, Gateway Stream, has provided it with some cushion from the disruption caused by the Covid-19 pandemic, which has been especially severe on the hospitality industry. The hospitality and leisure group said its occupancies closed the first quarter 2021 at 12 percent compared to 33 percent…
RESERVE money fell by $181,07 million to $22,44 billion during the week ending May 7, 2021 as the Reserve Bank of Zimbabwe (RBZ)’s open market operations (OMO) continued. In its latest update, the apex bank said this movement largely reflected a decrease of $464,85 million in banks’ liquidity (RTGS balances) at the reserve bank, “due…
THE Zimbabwe Stock Exchange (ZSE) says it is in negotiations with several companies for them to list on the Victoria Falls Stock Exchange (VFEX) before year end. Without disclosing the interested entities, ZSE chief executive Justin Bgoni told The Financial Gazette that the companies include local as well as foreign based ones. “Several companies, both…
FIRST Capital Bank (FCB) is optimistic that a sustained stability of the ZWL$ will help it to meet the US$30 million minimum capital requirement as directed by the Reserve Bank of Zimbabwe (RBZ) by December 31, 2021. Weekly currency auctions introduced by the RBZ last June have been credited with the stabilisation of the ZWL$…
ZIMBABWE’S trade with its neighbour and biggest trading partner, South Africa, has improved considerably despite the hard lockdowns, which restricted movement of people between the two countries. Latest data show that Zimbabwe’s exports to South Africa increased from US$114 million recorded in February to US$140 million the following month — representing a 22,8 percent jump.…
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