THE rains that have lashed the country over the past few days have eased fears of another devastating drought, with a knock-on effect throughout the whole economy.AdvertisementsIn this regard, business leaders, economists and senior government officials who spoke to The Financial Gazette — the country’s number one business publication and prime voice for industry and…
AT least US$2,5 billion is required to increase industrial capacity utilisation to 75 percent by December 2025, a new survey shows.AdvertisementsAccording to the latest annual State of the Industry and Commerce Survey report, average industrial capacity utilisation in 2024 decreased to 56,2 percent compared to 58,5 percent in the comparable year.The Zimbabwe National Chamber of…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-312036.mp3?cb=1736355640.mp3ZIMBABWE’s formal retail sector endured a challenging year in 2024, characterised by stiff competition from the burgeoning informal traders, working capital constraints and high cost of operating ― all threatening the viability of most businesses.AdvertisementsThis was compounded by a drastic decline in consumer spending as authorities’ tightening of liquidity in the economy weighed heavily on…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-312027.mp3?cb=1736348136.mp3ZIMBABWE’S transfer pricing rules are contained in sections 98A and 98B of the Income Tax Act (ITA). The rules came into force retrospectively as of January 1, 2014, because of an amendment to Act promulgated in April 2014. AdvertisementsThe Income Tax Act was further amended, effective January 1, 2016, to clarify the transfer pricing legislation…
“The future belongs to leaders who can think like entrepreneurs—solving problems, creating opportunities, and driving meaningful impact.”AdvertisementsIN today’s competitive and rapidly evolving business landscape, organisations and communities alike must adapt to thrive. This requires a new kind of leader: the entrepreneurial leader. These individuals combine innovation, resilience, and a results-driven mindset to create value, both…
STIFFER competition from new entrants in the local aviation space adversely impacted Fastjet Zimbabwe’s top line, subsequently plunging it into a US$4 million loss in 2023, the company’s latest annual report shows.AdvertisementsAccording to the company’s delayed 2023 annual report, revenue rose marginally by 1,8 percent to US$50,9 million in 2023 from US$50 million in 2022…
KHAYAH CEMENT is banking on the successful completion of talks with finance partners to unlock resources for the refurbishment of the kiln at its Manresa plant in Harare, which is central to its short-term recovery strategy.AdvertisementsThe cement producer, formerly Lafarge Zimbabwe has been battling operational challenges for many years mainly due to persistent plant breakdowns…
SUBDUED prices of platinum group metals (PGMs) globally during the course of 2024 adversely impacted development of Karo Mining Holdings (Karo)’s platinum project owing to delays in funding workstreams, the company has reported.AdvertisementsKaro, a local subsidiary of South African based resource group Tharisa plc said the PGMs’ price environment necessitated a review of the commissioning…
THE restructuring at CBZ Holdings Limited (CBZ) which commenced last year following major acquisitions by the group is set to be concluded at the end of this month as it streamlines operations, a senior executive of the company has said.AdvertisementsThe financial services behemoth owns subsidiaries in banking, insurance, investments, wealth management, mortgages, retail finance and…
NATIONAL Tyre Services (NTS) says it has resumed direct procurement of budget tyre brands from China as it seeks to improve product availability, market share retention and enhancing competitiveness.AdvertisementsThe company reported a “slight decline” in new tyre volumes during the six months to September 30, 2024 owing to supply chain glitches.In a statement accompanying the…
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