INNBUCKS MicroBank Limited (Innbucks) posted a significant growth in revenue from customers’ loan payments ― more than doubling its topline while fees and commissions income also fared positively during the year ended June 30, 2024.In its delayed full year results, the group saw its interest income grow by an impressive 960 percent to ZiG96,4 million,…
FINANCE minister Mthuli Ncube should introduce more tax reforms and perk up the country’s ease of doing business climate in his pending mid-term fiscal policy statement to boost the economy. So recommend economic experts, who told The Financial Gazette — Zimbabwe’s number one business publication — this week that Ncube also needed to take further…
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.…
CALEDONIA Mining Corporation posted a six percent increase in gold production at its flagship subsidiary, Blanket mine, to 17,050 ounces during the first quarter ended March, 31, 2024 despite having eight fewer production days compared to the same period last year. Fewer production days were due to the production cut-off for gold de- livery set…
RESEARCH firm Imara Investing in Africa is advocating for a fuel duty hike as a means to tax the country’s burgeoning informal sector. The country’s informal economy is estimated to be worth US$42 billion, according to the Zimbabwe National Chamber of Commerce and this proposal comes amid concerns about the sector’s contribution to national coffers…
ECONET Wireless (Econet) says viable pricing of telecommunication services remains a key factor for the continued growth and sustainability of the industry. In a statement accompanying the company’s financial statements for the half year ended August 31, 2023, Econet’s chairman, James Myers, said the current volatile operating environment continued to significantly erode the benefits of…
EXPERTS say the adoption of US dollar-pegged tariffs for telecommunication services could boost the sector’s capacity to invest in critical infrastructure. The Postal and Telecommunication Regulatory Authority of Zimbabwe (Potraz) recently approved a 100 percent industry-wide Zimbabwe dollar tariff increase with effect from November 1, 2023, saying the move was necessary to ensure the viability…
An employee is a person who performs services for an entity under the direction and control of that entity for remuneration. Employees are levied tax in terms of the 13th Schedule to the Income Tax Act (ITA). An employee’s tax on remuneration should be deducted by an employer. Every employer should withhold employees’ tax from…
ZIMBABWE’S only exchange-traded Real Estate Investment Trust (REIT), Tigere Property Fund, reached 100 percent occupancy for the half year ended June 30, 2023, buoyed by an upsurge in demand for space at its assets. The Terrace Africa Asset Management (Terrace) fund, which started trading on the Zimbabwe Stock Exchange at the beginning of December last…
IN last week’s piece, I dealt with key considerations that parties must be aware of when contemplating multi-party dispute resolution mechanisms. I looked at multi-party arbitration clauses and the factors that parties must address to be protected at law. This week, I will deal with contractual mechanisms for dealing with multi-party situations and how to…
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