LOW tax compliance in the country is depriving the fiscus of billions of US dollars every year, hampering economic growth and weakening the government’s ability to provide key public services, experts say. Speaking in Harare last week, at the annual tax review meeting, which is organised by The Financial Gazette — the country’s number one…
CONTINUING delistings from the Zimbabwe Stock Exchange (ZSE) by blue-chip companies aren’t good news and signal deeper structural weaknesses in the country’s capital markets, analysts say. This comes after telecoms giant, Econet Wireless, became the latest top firm to make decisive moves to exit the ZSE. Counters such as Padenga, Innscor, Simbisa, Axia, FCB and…
MUTAPA Investment Fund (MIF) is expected to carry out “more enhanced disclosures of its operations by publishing financials of all its investee companies”, as part of measures to improve governance…
THERE is an urgent need for a strategic partnership between the country’s formal businesses and the informal sector. So says the chief executive of Old Mutual Zimbabwe, Samuel Matsekete, who…
THE significant potential of Zimbabwe’s key mining sector is being hampered by continuing power issues, high operating costs, limited access to capital and suboptimal government policies.So noted industry leaders during last week’s well-attended annual conference of the Chamber of Mines of Zimbabwe (CoMZ) in Victoria Falls, amid surging gold prices — which the country is…
SOME miners have found themselves in an impasse with the state power utility, Zimbabwe Electricity Transmission and Distribution Company (ZETDC), which refuses to allow them to terminate power supply contracts.This issue has taken centre stage amid a deepening national power crisis, with the ZETDC struggling to meet demand and pay its escalating import arrears.The core…
THE Forestry Commission is actively pursuing the recovery of nearly US$1,2 million in outstanding lease payments by engaging a debt collection agency.The parastatal generates part of its income through leases and concessions, which include wildlife safaris and timber harvesting.Speaking to The Financial Gazette, acting director-general Joyce Gombe confirmed that the outstanding debt has significantly impacted…
CONCERNED economic experts have made a fresh call to authorities to urgently consider liberalising the forex market in response to the country’s currency volatility and rising inflation. Speaking to The Financial Gazette — Zimbabwe’s number one business publication and prime voice for local industry and commerce — the experts said this week that doing this…
AMERICAN banker and businessman Marc Holtzman is to join an expanded Mutapa Investment Fund (MIF) board, which is likely to have two more members, it has emerged. This comes as government has taken numerous steps to operationalise the fund and the ex-CBZ Holdings (CBZ) chairman, and others including Prassad Bamre have been appointed on the…
MUTAPA Investment Fund (MIF) is wasting no time in pursuing its mission of safeguarding national assets and bolstering the country’s economy. During the Fund’s inaugural meeting, chief executive John Mangudya underscored the critical importance of prioritising national interests, making it clear that MIF is guided by core values of transparency, accountability, excellence, commitment, and integrity.…
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