PRESIDENT Emmerson Mnangagwa’s government has approved the operationalisation of the Veterans of the Liberation Struggle Act (VLSA), thus paving the way for war veterans’s desire to return to big-time business. The development comes as The Financial Gazette has recently reported that the “special interest” group was on the cusp of launching its own bank, investing…
THE Finance Act is one of the most crucial pieces of legislation in Zimbabwe as it guides businesses and the economy at large. Taxpayers look forward to the announcement of the fiscal budget and consequently, the Finance Bill as it normally brings changes that affect them in their order of doing business. With the setting…
ABRAHAM Lincoln, the 16th president of the United States and one of the greatest American leaders once said; “The best way to predict your future is to create it”. One industry that has indeed been reshaping its future in the wake of the Covid-19 pandemic is the Global Luxury Brands Sector. As illustrated in the…
THE past few months have seen the legal profession as a whole and some of its members in particular, subjected to serious attack, which has manifested through wanton arrests on fabricated and/or trumped up charges. The country’s top advocate Thabani Mpofu, is being prosecuted for a crime whose facts leave one wondering what has gotten…
DEBATE is raging over whether Zimbabwe should be buying foreign currency from the market now to build up its reserves and to further stabilise the economy. Among the experts who argue that the Reserve Bank of Zimbabwe (RBZ) should consider stocking up on its American dollar reserves is the central bank’s monetary policy committee (MPC)…
THE Harare City Council (HCC)’s US$1 billion water and sewer reticulation deal is in limbo, as the Chinese companies that had been hired to do the job failed to meet a number of pre-conditions, it has emerged. This comes as the local authority’s internal security department has submitted a dossier on several cases of alleged…
Financial group CBZ Holdings Limited (CBZ) has been able to “unshackle itself” from the American government’s Office of Foreign Assets Control (OFAC) sanctions and a US$385 million fine through “years of high-level lobbying on multiple fronts”, chairman Marc Holtzman says. The behemoth, which had been slapped with the potentially crippling embargoes for processing international transactions…
NATIONAL Building Society (NBS) managing director Lameck Danga is set to leave the National Social Security Authority (Nssa)-owned mortgage lender at the end of September, as turmoil continues to hit the five-year old bank. His departure also comes barely two months after the bank’s chief financial officer Ethel Chitanda was “fired” or released for “disruptive…
PROPERTY firm Sunshine Developments (Sunshine) — a joint venture between the Harare City Council (HCC) and one of Ken Sharpe’s investment vehicles — has rushed to the High Court seeking an order to evict “invaders” from its Mabelreign property. In an urgent chamber application last week, the company petitioned Lilian Chitiga and Tinashe Dhlamini for…
FBC Holdings (FBC) says its hedging strategies are bearing fruit after it realised a profit of $2,1 billion for the six months to June 2020, compared to a $380 million loss in the prior comparable period. After incurring a loss on account of inflation last year, the financial services group had said it was prioritising…
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