I am extremely grateful for the overwhelming response to my series on pertinent grower contract clauses in the tobacco sector. One of the most common questions I received in the aftermath of the series is whether grower contracts are unique to the tobacco sector. They are not. In fact, one can enter into a grower…
EXPENDITURE is deductible for income tax purposes when it is incurred for purposes of trade or in the production of taxpayer income exclusive of expenditure of a capital nature and prepaid expenses. With regard to the deductibility of borrowing costs, this is further guided by what the funds have been used for. Generally, borrowing costs…
THE government has begun the search for joint venture partners to resuscitate operations at several of its mothballed copper mines. This is part of a wider plan to resume copper mining following a significant rise in copper prices this year. “The Ministry of Mines and Mining Development will be submitting proposals in due course of…
FOLLOWING Econet’s feat in the Top Companies Awards, The Financial Gazette’s News Editor Kuda Chideme (KC) sat down with Econet Wireless Group chief executive, Douglas Mboweni (DM), to learn the company’s secret to success. Below are excerpts of the interview: KC: Congratulations on your achievement. How did you manage to navigate this difficult year? DM:…
FINCENT Securities (Fincent) says the Zimbabwe Stock Exchange (ZSE) should list more derivatives to hedge against the threat of a thin board amid looming de-listings. The government last year laid out a framework for exchange traded funds (ETFs) and real estate investment trusts (REITs), but the ZSE has so far only listed one such instrument…
THE Judicial Services Commission (JSC) says the commercial division of the High Court will go fully digital in January, 2022 along with the other superior courts, a development which is expected to improve the country’s ease of doing business rankings. This will be done through the implementation of an Integrated Electronic Case Management System (IECMS).…
ZIMBABWE and the rest of Southern Africa are on the edge, amid fears of protracted instability and violent riots in South Africa, which this week disrupted access to the key regional trade port of Durban. Experts who spoke to The Financial Gazette yesterday said the startling mayhem which is being witnessed in South Africa, the…
FINANCE minister Mthuli Ncube says the government will be flexible on the insurance industry’s compliance with minimum prescribed asset status, as the sector struggles to fulfil its quotas. This comes after the Insurance and Pensions Commission (Ipec) reported that none of the country’s 18 short-term insurers complied with the minimum prescribed assets ratio in the…
MEIKLES says it has invested US$21 million in its plantations since 2011 as part of an ongoing diversification scheme. This comes amid growing international interest in superfoods, such as macadamia nuts and avocados, by an increasingly health-conscious market. “Meikles has provided additional capital to Tanganda since 2011 to support the crop diversification thrust. This capital…
THE Zimbabwe Stock Exchange (ZSE)’s Small Cap Index gained 298 percent during the second quarter of 2021, driving the market’s returns to an inflation beating 38 percent. Second quarter returns for the Top Ten and Top 15 indices were relatively tapered at 20,8 percent and 22,9 percent respectively, but remained aggressively ahead of official inflation…
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