Caledonia Mining Corporation has successfully completed the sale of its local subsidiary, Caledonia Mining Services (CMS), to Cross Boundary Energy Holdings (CBE) for a pre-tax consideration of US$22,35 million payable in cash.CMS owns and operates the 12,2MWac solar plant that supplies power to Blanket Mine, its primary gold asset.“By selling the plant for US$22,35 million,…
THE Zimbabwe Consolidated Diamond Company (ZCDC) says its output has been on an upward trend following the acquisition of production ramp-up equipment.The diamond miner said this is despite the softening commodity prices on the global market in recent times owing to geopolitical factors and the influx of synthetics.ZCDC corporate affairs executive Sugar Chagonda said that…
RAINBOW Tourism Group’s Montclair Resort & Conference Hotel is the ideal leisure destination for families, adventure seekers, and nature lovers looking for an unforgettable getaway this Easter. Nestled in the…
THE People’s Own Savings Bank (POSB) grew its lending portfolio by 107 percent to ZiG987,3 million during the year ended December 31, 2024 from ZiG476,1 million a year earlier, mainly supporting agriculture and property sectors.This comes as authorities have been advocating for local banks to revert to lending as their primary source of revenue as…
ARISTON Holdings (Ariston) says its operations have been severely affected by the soaring cost of key inputs such as electricity, fertilisers, and crop chemicals piling pressure on profit margins.The agro-industrial concern was further hit by a 21 percent decline in export tea selling prices resulting in 60 percent decline in export tea revenue.In its financial…
ZIMBABWE’s corporate citizenry has progressively been ignoring the importance of the key stakeholder, who is the customer, resulting in the manifestation of that reflecting in most corporates’ bottom lines. In this instalment we seek to unravel and unpack why it has been like that, and what could be done to reverse this cancerous corporate misdemeanour.In…
ZIMBABWE’S tax system is undergoing significant transformation, shaped by globalisation, technology, policy trends, and socio-economic pressures. This dynamic environment brings complex compliance challenges, but also strategic opportunities for businesses navigating the evolving fiscal terrain.Key legislative reforms were introduced to apply effective from 2025, among them accelerated VAT remittance, 10 percent punters tax, one percent fast…
OLD Mutual Group recently reported strong earnings- the highest since 2019, buoyed by rising demand for its short-term insurance and wealth management products in South Africa. In Zimbabwe, its funeral service and the O’mari platform continues to grow, reaching a milestone, 1,3 million customers in 2024 since its launch in 2023. Across the region, it…
By Jackson T Mashinge iN an era defined by data, the adage “knowledge is power” has never rung truer, especially for businesses operating in the ever-evolving economic landscape of Zimbabwe. As organizations strive to navigate complex market dynamics and make informed strategic decisions, augmented analytics emerges as a transformative force reshaping the contours of business…
By Simbarashe Hamudi IN Zimbabwe, tax laws take a comprehensive approach when it comes to defining taxable income for employees. All amounts received or accrued in connection with employment, whether from current, former, or even prospective employer, are brought into gross income and are therefore subject to tax. This applies regardless of whether the payments…
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