SOFT drinks manufacturer Varun Beverages Zimbabwe (Varun) says its US$20 million investment in the production of consumables has significantly reduced its import bill. The franchise bottler of PepsiCo in the country commissioned polyethylene terephthalate (PET) bottles and aluminium cans production lines in 2019. Varun’s vice president, Fungai Murahwa, told The Financial Gazette this week that…
STANBIC Bank Zimbabwe (Stanbic) says its profit declined by $100 million to $1,2 billion during the half-year to June 30, 2021, due to the impact of the Covid-19 pandemic. Stanbic’s board chairman, Gregory Sebborn, said the bank’s operating expenses increased from $2,7 billion to $3,2 billion during the period, driven by expenditure of $430 million…
Donations can be very useful for tax planning purposes. However, the revenue authority has identified that people can somehow manipulate donations for the purpose of completely avoiding paying taxes and as such, the legislation is dotted with tax anti-avoidance rules, which are meant to discourage making donations for the purpose of avoiding paying tax to…
FOR a long time now, Morgan & Co Research has consistently insisted that investors should park ZWL balances in blue-chip stocks. This is because we see massive opportunities in sectors and companies that are linked to GDP growth. Generally, the global economic rebound from the pandemic has picked up pace. Relief and stimulus measures in…
THE Zimbabwe Stock Exchange (ZSE) lost 2,83 percent in August, its worst performance in nine months, as demand for stocks continues to diminish amid sustained stability in the economy. Over the past few years, the market has rallied on the back of currency instability, with demand for real assets driving interest in equities. But since…
BOTH commerce and industry want more relaxations of the current coronavirus restrictions to further boost economic activity in the country. Speaking to The Financial Gazette this week, amid growing business confidence levels, business leaders said authorities could now safely further open up the economy given the success of the ongoing vaccination programme and the declining…
THE Reserve Bank of Zimbabwe (RBZ) says it will maintain a quarterly reserve money growth target of 20 percent to consolidate the stability seen in the economy over the past 12 months. Reserve money is a metric that tracks money supply in an economy, in particular, the portion that would be affected by money printing.…
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…
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