ZIMBABWE’S milk production hit 10,15 million litres in August 2024, a seven-year monthly high, thanks to increased dairy herds and strategic investments.Advertisements According to the Agriculture ministry’s dairy services department, milk production during the month was up by 15,24 percent compared to 8,81 million litres in August 2023. This figure is also a two percent…
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.Advertisements 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…
DIVERSIFIED insurance firm, First Mutual Holdings Limited (FMHL) witnessed increased preference of USD-denominated products from clients in the half year ended 30 June 2024, as they sought to retain value of insurance benefit amid signs of local currency volatility. Advertisements The period was characterized by the rapid devaluation of the Zimbabwe dollar during the first…
SUPERMARKET chain Choppies Enterprises (Choppies) expects to grow its profit for its financial year ended June 30, 2024 (FY2024) thanks to the positive performance across its regional operations save for the underperforming Zimbabwean unit. Advertisements The Botswana headquartered grocer which also operates in Zambia and Namibia has in the past few years exited South Africa,…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-308854.mp3?cb=1732287505.mp3TRANSFER pricing is increasingly becoming a focal point for tax authorities worldwide and Zimbabwe is no exception. The Zimbabwe Revenue Authority (ZIMRA) is actively working to prevent Base Erosion and Profit Shifting (BEPS). Advertisements With the region’s transfer pricing laws still developing, enforcement and compliance have become increasingly stringent. Zimbabwe serves as a key example…
ECOBANK is upbeat about the softening of economic sanctions on Zimbabwe which has brought renewed interest from international financiers previously hesitant to extend credit lines to local banks.Advertisements Over the past two decades international banks have been de-risking by withdrawing correspondent banking relationships with and extension of credit lines to Zimbabwe to avoid backlash from…
NMB Bank Zimbabwe Limited (NMB) was left counting heavy losses from the currency transition executed earlier this year after conversions from the Zimbabwe dollar (ZWL) to the Zimbabwe Gold currency (ZWG) resulted in the devaluation of some of its assets.Advertisements Subsequently, the financial services firm reported a ZWG362,22 million monetary loss for the six months…
THE government is optimistic about reaching its 2025 diamond production target of 10 million carats, contingent on securing the necessary capital for the Zimbabwe Consolidated Diamond Company (ZCDC).Advertisements The ZCDC is targeting diamond output of 5,7 million carats this year, with production driven by increased efficiency and expansion efforts. “The 2025 target, as I mentioned…
Manchester United manager Erik ten Hag says there are “too many games” and “too many competitions” in football, with players facing “almost unavoidable” risk of injury.Advertisements Manchester United start their European campaign at home to Twente on Wednesday in a new 36-team Europa League which sees each club play eight matches in the league phase.…
PROPLASTICS expects to achieve significant savings in the second half of 2024 after commissioning its new solar power plant.Advertisements Board chairman Gregory Sebborn highlighted the benefits of the plant, noting that it is expected to generate 50 000 kilowatt hours (kWh) of energy per month. “This will reduce the electricity bill and generator fuel consumption,…
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