NMBZ Holdings Limited has reported a profit before tax of $705 million for the year ended December 31, 2020, representing an inflation adjusted increase of more than $14 million compared to the previous year’s inflation adjusted pre-tax profit of $691 million. The group achieved a basic earnings per share of 210,12 cents compared to 96,49…
FINANCE minister Mthuli Ncube says the government will maintain payments to farmers for grain in the local currency, citing stability of the domestic unit. This comes after a recent push by farmers to be paid in foreign currency, arguing that most of their inputs such as fertilisers and herbicides are purchased using United States dollars…
Value Added Tax (VAT) and transfer pricing (TP) are largely viewed as two separate fields of tax. Adjustments to one area have limited and predictable consequences for the other area. VAT is a transaction-based tax and it is levied on supplies of goods and services. A supply is taxable for VAT purposes if parties have…
FOLLOWNG on our article titled “The Economics of Oil” and our analysis on the impact of oil price shocks on inflation, we assess how the traffic jam on Suez Canal might have impacted oil prices. Approximately 10 percent of global seaborne oil trade, plus a large volume of liquified natural gas (LNG) and petroleum, sails…
THE government plans to shift from maize production to wheat this winter to cut the country’s huge import bill and ensure self-sufficiency in the commodity. The move — which comes in the wake of an anticipated bumper maize harvest this season — would likely ease wheat shortages and cut down on bread prices. “With a…
ZIMBABWE’S national herd increased marginally to 5,6 million in 2020 from 5,4 million the previous year, according to a report by the agricultural ministry. Permanent secretary in the Agriculture ministry, John Bhasera, revealed the figures during a field day at the Rattary Arnold Research Institute last week, but stressed that there was need to improve…
DELTA Corporation (Delta) has overtaken CBZ Holdings (CBZ) as the most valuable company on the Zimbabwe Stock Exchange (ZSE) after gaining more than 90 percent this year. In comparison, CBZ has lost 17 percent and is among only five counters in the red this year. The financial services group had surged to the top in…
THE Reserve Bank of Zimbabwe (RBZ) this week said it plans to introduce a lending facility for small and medium size enterprises (SMEs). The bank has also been working on a national collateral registry to allow borrowing without the need of immovable property, which is expected to be a “gamechanger” for SMEs. “The Monetary Policy…
EQUITIES firm, IH Securities Zimbabwe (IH) is forecasting Axia Corporation’s (Axia) revenue to grow by 378 percent for the year to June 2021, spurred by increased consumer demand. The firm said it expects a “drastic recovery in consumer spend” going into the company’s fourth quarter – beginning in April – driven by the grain selling…
CALEDONIA Mining Corporation – operators of gold producer Blanket Mine – has reported a 30 percent increase in full year revenue to US$100 million after achieving record output in 2020. The mine reported annual production of 57 899 ounces of gold compared to the 55 182 ounces produced in 2019. In a statement accompanying financial…
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