RAINBOW Tourism Group (RTG) this week announced an early redemption of its seven-year debenture due to a now “sub-optimal” security arrangement. Issued in 2018, the $16,7 million debt notes were secured by a bond over the company’s three hotels ― Bulawayo Rainbow Hotel, A’Zambezi River Lodge and Victoria Falls Rainbow Hotel. “The combined value of…
THE number of churches in Zimbabwe has recently increased over the past few years and their economic impact cannot be ignored — hence the need to look into tax issues affecting churches. A significant number of church organisations in Zimbabwe are operating at large economic scales with income streamed from tithes and offerings. The question…
HUMAN rights, free elections, inclusiveness, equality, freedom of assembly and expression, rule of law are some of the ideals that have been endorsed and are being promoted in modern day societies. Democracy is the fundamental component. It is basically a form of government in which the people have the authority to choose their governing legislation.…
THE area of Estate management for natural individuals has not been discussed in this column for a long time and this week, I found it worth the while to give a summarised exposé of the crucial area of law. The Administration of Estates Act [Chapter 6:01] provides in detail, the procedures that one has to…
The US Treasury mistakenly sent more than $1.4bn (£1.1bn) of its pandemic rescue funds to dead people, government inspectors have found. The finding was one of several “challenges” uncovered in the official review of federal coronavirus aid. Since March, Congress has pumped some $2.6tn into the American economy in an effort to shield it from…
BORDER Timbers (Border) faces an uncertain future owing to the impact Covid-19, which has disrupted business globally. The firm, which is under administration, had previously declared that it was out of the woods but the prospect of recovery has been hampered by the contagion. “The Covid-19 pandemic is estimated to have a material adverse effect…
ZIMBABWE’S foreign currency auctions, which have seen the local dollar trading at 57 to the greenback, are unlikely to save the local unit from its plunge, as a number of factors remain unresolved, analysts say. This also comes as parallel market rates have actually increased to a range of $90 to $120 for a single…
A LOCAL start-up based in Bulawayo is planning to launch the first derivatives exchange in Zimbabwe by August this year. Divine Jigu, Qubit Quark’s co-founder and director of operations says the “technology and data science” company has been working on the project, which it is calling the Bulawayo derivatives exchange (Budex), since its establishment three…
Lalchand Rajput has announced he is staying put as head coach of the Zimbabwe senior men’s national cricket team. Media reports had sparked speculation regarding a move elsewhere for the 58-year-old mentor. However, Rajput says he is fully committed to honouring his three-year contract with Zimbabwe Cricket (ZC) which runs up to the end of…
AS Covid-19 social distancing measures are slowly being relaxed and formal businesses have resumed operations, one reality that has caught up with ordinary Zimbabwean citizens are fuel shortages. Queues at fuel stations have become a common feature despite some phoney pronouncements now and then that the country has adequate fuel stocks. While it could make…
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