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.…
BUSINESS has been cheered by the launch of the country’s new currency, the Zimbabwe Gold (ZiG), as well as the raft of other measures that were taken by the central bank last week. Captains of commerce and industry who attended Tuesday’s post-monetary policy statement (MPS) meeting in Harare said they had been “greatly encouraged” by…
IN a recent conversation with The Financial Gazette’s Omega Ukama, ZIMRE Holdings’ senior group finance manager, Tafadzwa Mushayi, shed light on the implications of Zimbabwe’s recent transition to IFRS 17. The new accounting standard, designed to enhance transparency, has posed distinct challenges for the country’s insurance sector, particularly when contrasted with more mature markets. The…
ZIMBABWEAN local authorities have been urged to embrace innovative fundraising tools available in capital markets to address the nation’s crumbling infrastructure. Efforts to improve the quality of roads, power supply, and basic services are seen as central to the country’s economic growth. “Evidence from other economies clearly demonstrates that capital market financing is instrumental in…
THE Montclair Hotel, a sprawling complex tucked into the misty Nyanga highlands, seemed to murmur with echoes of an era gone by. General manager Brian Nyakutombwa, impeccably dressed and with a thoughtful air, traced the hotel’s seven-decade journey as he sat in the wood-paneled lobby. “This place,” he began, a note of fondness in his…
ZIMBABWE’S complex and frequently changing property tax regime is discouraging long-term investment and hindering economic growth, according to the Real Estate Investment Trusts Association of Zimbabwe. Speaking at The Financial Gazette’s fifth annual Tax Review Breakfast in Harare last week, chairman Mike Juru made a strong appeal for simplifying Zimbabwe’s complex property tax system. “An…
THE Zimbabwe Revenue Authority (Zimra) says there has been a notable increase in tax compliance among Small and Medium Enterprises (SMEs). Zimra’s Commissioner of Domestic Taxes, Misheck Govha, shared this positive development at the annual tax review breakfast meeting recently hosted by The Financial Gazette. Govha highlighted that since the start of the year, 432…
ZIMBABWE’S sweeping changes to its Value Added Tax (VAT) system have left businesses and analysts grappling with the implications, particularly as the government pursues a vigorous domestic revenue mobilisation drive. The Finance Act 13 of 2023, accompanied by significant statutory instruments, substantially altered the landscape of what goods and services qualify for various VAT rates.…
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