FINANCE minister Mthuli Ncube has missed the deadline set by the court to publish details of all loans and guarantees incurred by the government with the African Export–Import Bank (Afreximbank) and other international financiers between 2017 and 2020. This comes as High Court Judge Happias Zhou in a December 2020 judgment, gave Ncube up to…
THE government has injected $75 million as seed capital towards a civil servants mutual savings fund, Government employees Mutual savings Fund (Gems), aimed at providing loans and a retirement package. According to the Public Service Commission (PSC), the voluntary fund is with effect from this month. “Treasury has already provided an initial $75 million as…
THE Zimbabwe Stock Exchange (ZSE) recovered from early losses in January to gain 35 percent, closing the month ZWL$117 billion (US$1,43 billion) firmer with a capitalisation of ZWL$435 billion. On the surface, the gains seem odd coming against a backdrop of a stable currency, with recent bull runs having been fuelled by inflation. Analysts, however,…
… as industry says good practices by farmers are instrumental THE Tobacco Industry Board (TIMB) believes that the country will achieve its audacious target of producing 300 million kg of the golden leaf every year, as long as challenges affecting farmers are sorted. This comes as players in the tobacco industry are targeting to produce…
PHARMACEUTICAL experts have renewed their calls for the government to make good its promises to resuscitate the industry, which they say is now operating at just 40 percent of its capacity. This comes two years after the authorities had engaged India and the United Arab Emirates (UAE) to help resuscitate fallen pharmaceutical giants CAPS…
“Ownership” is a common word that is uttered in many conversations but it turns out that not much is known in terms of the legal rights associated with it. Many of us exercise ownership rights over a wide array of things, be they movable or immovable, but as is always the case with certain obscure…
THE Zimbabwean economy has experienced recessions in 2019 and 2020, with GDP estimated to have contracted by 6 percent and 4,1 percent, respectively (ministry of Finance estimates). The economic contraction has been a result of output losses in key sectors such as agriculture, mining, manufacturing and tourism. The recession has largely been a result of…
THE 2020 tax year will be the second year Zimbabwean enterprises with intercompany transactions will be required to submit a Transfer Pricing (TP) return (ITF12C2). This follows the introduction of TP legislation by the country in 2014. In terms of the law, intercompany taxpayers should determine their income tax liability using prices on transactions with…
A UNITED Kingdom-based Zimbabwean lawyer is hoping to push a blockchain technology and digital assets business bill through parliament during the first quarter of 2021. Zimbabwe currently does not have legislation covering digital assets but Prosper Mwedzi is hoping to change that by introducing the private bill to parliament. “If the bill passes into law……
ONE great discussion topic and area of study has to do with defining exactly what a business is and what its obligations are to society at large and to the many stakeholders (customers, shareholders, employees, suppliers and policy makers) participating in the business environment. For most businesses, the focus has been first and foremost on…
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