Kudzanai Gerede, Companies and Market Editor, Author at The Financial Gazette

Zimbabwe hosts regional commodity exchanges indaba

Kudzanai Gerede, Companies and Market EditorMarch 16, 20250252 views

ZIMBABWE is set to host the AfCFTA Association of Commodity Exchanges (A-ACX) Annual Conference in Victoria Falls on March 26-27.The Zimbabwe Mercantile Exchange (ZMX) -the country’ sole commodity exchange- said Agriculture minister Anxious Masuka will headline the conference as guest of honour.Running under the theme “Scaling Intra-African Trade: Leveraging Commodity Exchanges for Economic Resilience and…

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Government pushed to transform taxes

Kudzanai Gerede, Companies and Market EditorMarch 14, 20250251 views

… as companies continue to bleed in testing economyTHERE are fresh calls for the government to review the country’s plethora of taxes, which experts said yesterday were weighing down businesses and worsening the plight of poor citizens.Speaking at the Annual Tax Review Breakfast Meeting in Harare — hosted by the country’s number one business publication, The…

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Kuvimba plans US$60m capex on its gold mines

Kudzanai Gerede, Companies and Market EditorMarch 13, 20250501 views

KUVIMBA Mining House (KMH) is set to spend US$60 million into its gold operations this year in a bold move expected to augment production and improve efficiency leveraging the global price boom to fund part of its ambitious plan.KHM’s gold cluster comprises Freda Rebecca Gold Mine (FRGM), Shamva Mine, and Jena Mines.Last year, the three…

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Multinationals exploit Zimbabwe’s tax laws

Kudzanai Gerede, Companies and Market EditorMarch 13, 20250386 views

ZIMBABWE’s efforts to attract foreign investment through appealing tax incentives have inadvertently created lawful avenues for multinational corporations that seek to minimise their tax obligations, tax experts say.One notable initiative is the foreign currency-denominated- Victoria Falls Stock Exchange (VFEX), an international offshore centre established in 2020, which offers a reduced dividend withholding tax rate of…

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RioZim banks on fresh funding to stay afloat

Kudzanai Gerede, Companies and Market EditorMarch 13, 20250416 views

. . . as majority shareholders opt outRIOZIM is betting on the finalisation of a major line of credit and a new ownership deal to turnaround its waning fortunes which could potentially revamp its production efficiencies and provide working capital.The Zimbabwe Stock Exchange (ZSE)-listed gold producer has for several years been running a high-cost inefficient…

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Meikles seeks ZSE trading readmission

Kudzanai Gerede, Companies and Market EditorMarch 6, 20250560 views

MEIKLES Limited (Meikles) is working to have the suspension on trading its shares on the Zimbabwe Stock Exchange (ZSE) lifted after successfully quelling a nasty boardroom wrangle that ensued at the tail-end of last year.The ZSE said the suspension — which took effect on November 25, 2024 — was necessary “to address corporate governance concerns”…

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Diamond sector viability under threat

Kudzanai Gerede, Companies and Market EditorMarch 6, 20250852 views

ZIMBABWE’S diamond industry faces a “murky” future and outlook due to a number of operational challenges, including a depressed international market, statutory obligations and the emergence of synthetic diamonds, which could affect its performance.This comes as one of the world’s largest gem producers, Botswana, has renegotiated its Debswana joint venture agreement with De Beers and…

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TSL expands warehouse capacity

Kudzanai Gerede, Companies and Market EditorMarch 6, 20250179 views

TOBACCO Sales Limited (TSL) says it has lined up several initiatives to increase warehousing capacity which are earmarked for completion before the end of October this year.The Zimbabwe Stock Exchange (ZSE)-listed tobacco processing firm, also with operations in agriculture commodities logistics, recently completed a 15 000 square meter warehouse facility for an undisclosed client, expanding…

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Liquidity problems rattle local stocks

Kudzanai Gerede, Companies and Market EditorFebruary 27, 20250485 views

THE local equities market has lost significant ground midway into the first quarter of 2025 as tight liquidity conditions and a generally underperforming economy have dampened investor activity.The country’s primary bourse, the Zimbabwe Stock Exchange (ZSE) market capitalization which peaked at ZiG 90 billion in October 2024 since rebasing has been in constant decline closing…

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Tax incentives draining Zimbabwe’s coffers: WB

Kudzanai Gerede, Companies and Market EditorFebruary 27, 20250785 views

ZIMBABWE has the potential to significantly boost its tax revenue, up to nearly a quarter of its gross domestic product (GDP), by reforming its fiscal incentives, according to the World Bank.In its latest Zimbabwe Public Finance Review report, the bank highlighted that while the country has improved domestic revenue collection in recent years, it still…

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