THE Zimbabwe Investment and Development Agency (Zida) is pushing for legislative changes to speed up investors’ acquisition of factory permits, chief executive Douglas Munatsi has said. Addressing delegates during the Institute of Chartered Accountants of Zimbabwe (Icaz)’s 2021 Winter School recently, Munatsi said the country has room for improvement with regards to the ease-of-doing business…
WHEN you run any kind of business, finding yourself in an employment dispute is inevitable. Where employees act outside the course and scope of their employment, or act contrary to the interests of their employer, they may be subjected to disciplinary proceedings. Such proceedings are strictly regulated by the law to ensure that the substantive…
Value Added Tax (VAT) is an indirect tax on consumption, charged on the supply of taxable goods and services. It is the responsibility of persons who are registered for VAT (also known as registered operators) to charge and collect VAT on behalf of the fiscus. Exception applies only with regard to importation of goods or…
ZIMPLOW Holdings (Zimplow) has gained 20 percent on the Zimbabwe Stock Exchange (ZSE) since it concluded the acquisition of four assets in a diversification drive. The acquisition of Scanlink, Tredcor Zimbabwe, Birmingham Investments and an industrial property Willowvale, Harare was approved by shareholders late last year, but only recently fulfilled conditions precedent, with Zimplow announcing…
SEEDCO’s sales volumes were up 23 percent during the quarter ended June 30, 2021, driven by the onset of the winter wheat season and a government import substitution drive. In a trading update last week, the company said wheat seed made up 93 percent of the total sales volumes during the period. “Wheat seed sales…
CONSTRUCTION work on the modernisation of the Robert Gabriel Mugabe International Airport, which had been shelved due to the Covid-19 outbreak, has resumed with completion set for 2023. Airports Company of Zimbabwe (ACZ) board chairman Devnanda Popatlal told The Financial Gazette that the US$153 million project had been paralysed for months. “The Covid-19 pandemic has…
HIPPO Valley Estates (Hippo Valley)’s sugar production was up by 35 percent to 66 664 tonnes during the quarter ended June 30, 2021, following a successful off-crop maintenance programme. In a trading update last week, chief executive Aiden Mhere said the company benefitted immensely from Covid-19 lockdown exemptions and an earlier start to the harvesting…
THE government is focusing on boosting local production of pharmaceutical products to reduce over-reliance on imports and create employment, a cabinet minister said. Speaking during a webinar hosted by The Financial Gazette last week under the theme “Pharmaceutical Manufacturing Strategy for Zimbabwe (2021-2025) ― Opportunities for Investors”, Industry minister Sekai Nzenza, pictured, said increasing local…
PROSPECT Resources Limited (PRL) managing director Sam Hosack says Zimbabwe’s mining sector is on the rise following significant policy changes in the sector to enhance production over the last two years. Hosack said the dissipating inflationary pressures and relative currency stability as well as policy stability will see a return in foreign investment in the…
THE Confederation of Zimbabwe Industries (CZI) says coalitions between the government and business that existed between 2013 and 2015, when the country was pursuing economic development through the ZimAsset blueprint, should be reinstated to buttress current efforts to revive the economy. Speaking during a plenary session at the Institute of Chartered Accountants’ 2021 Winter School…
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