TIME has often proved that vows made before marriage officers and exhilarated guests are meaningless as marriages have crumbled after parties have discovered their incompatibility. When parties get joined in holy matrimony, their expectation is to enjoy the marriage or experience hardship together hoping that only the natural and inevitable phenomenon of death will separate…
ZIMNAT Asset Management Company is set to take control of several funds worth US$5,5 million, which were under the management of Tetrad Financial Services (TFS) Asset Management Company. TFS, a former subsidiary of the now defunct Tetrad Group, was placed under provisional liquidation in April 2015 with Knowledge Hofisi of Aurifin Capital as the provisional…
THE People’s Own Savings Bank (POSB) says identification of investors under the state-owned entity’s partial privatisation bid will be complete and ready for government approval in the second half of the year. POSB is one of the state entities that have been earmarked for partial privatisation by the government. According to the bank’s 2020 financial…
COMPANIES are amplifying their voices against the two percent Intermediated Money Transfer Tax (IMTT), which they want revised to cushion businesses from the debilitating effects of coronavirus. At the same time, experts have warned that if the IMTT — which they have said amounts to “double taxation”, was to continue — it would hit business,…
ZIMBABWE’s money market has undergone a wave of innovation with issuers diversifying offerings to balance investors’ needs for liquidity and value-preservation, a wealth management firm has said. Some of the instruments in the market include certificates of deposit, commercial paper — short term unsecured debt notes issued by a company and bankers’ acceptances. “We have…
Following on from last week’s article on the African Continental Free Trade Area (AfCFTA) opportunity for Zimbabwe, where we contend that agriculture is a strategic area for the country in as far as food production is concerned, we also highlight that one of the objectives of the AfCFTA pact is to promote industrial development through…
ZIMBABWE should use its allocation of Special Drawing Rights (SDRs) from the International Monetary Fund’s (IMF) $650 billion global rescue package to invest in capital projects and bolster its capacity to service debts, economists have said. The fund plans to distribute the package to member countries this summer, in response to the Covid-19 pandemic…
BUSINESS will stump up $230 million on Covid-19 vaccinations as it seeks to avoid disruptions similar to those previously caused by hardened lockdowns imposed by authorities to contain the spread of coronavirus. It also said it would assist the government to prevent re-imposition of a tough stay-at-home order in the event that the country is…
GB Holdings (GB)’s revenue grew by 52 percent to $334 million during the year ended December 31, 2020, driven by market share consolidation. The company is the sole manufacturer of conveyor belting in Zimbabwe and one of only two in Africa. It supplies regional markets and virtually all of the country’s requirements, with a little…
VOLATILITY on the Zimbabwe Stock Exchange (ZSE) is likely to persist during the second quarter of year, as investors are expected to keep taking positions in equities as “a currency hedge”, a research firm has said. Over the past few years, the stock market has experienced wild swings on the back of a currency crisis…
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