finance

Strategies to foster client-focused culture

COMPANIES that have a good client culture create such a focus on the client that everything and everyone throughout the organisation is on board. Where does this organisational magic come from? It all comes back to the culture.Sometimes the client-focused “way” is seen as a brand within a brand.Positive platitudes are just not enough. As companies…

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OK Zimbabwe wants ‘fully’ liberalised exchange rate

OK ZIMBABWE Limited (OK Zim) says authorities should do more to ensure a fully liberalised exchange rate for the local currency in order to turn around the waning fortunes of the country’s formal retail sector.The country’s largest supermarket chain which operates brands such as OK, OKmart, Bon Marche’, and Food Lover’s Market has been battling…

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Tobacco firms already converted

Staff Writer THE Tobacco Industry Marketing Board (TIMB) is making significant strides in promoting the value addition of tobacco, a strategic move set to boost revenue from the country’s golden leaf production.As the industry adapts to shifting market dynamics, TIMB’s initiatives to enhance value-added processes are expected to improve tobacco producers’ profitability and strengthen the…

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Climate resilience strategy for parastatals

THE government is developing tailored climate resilience guidelines for state enterprises and parastatals (SEPs) to equip these organisations with effective adaptation strategies, ensuring their operations remain sustainable.By prioritising climate resilience, the government aims to strengthen the ability of SEPs to withstand environmental challenges, promote sustainable practices, and contribute to national economic stability.Speaking at a stakeholder…

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Tanganda debts pile up on growth ambition

TANGANDA Tea Company’s borrowings grew by 153,2 percent to US$6,52 million in 2024 against US$2,57 million in 2023 as the group pursued expansion initiatives.While increased borrowings may indicate confidence in future revenue streams, they also bring financial risks, particularly in the current volatile economic environment characterized by tight liquidity.In its 2024 annual report, group long-term…

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RGS bid to stop Tongaat-Vision deal flops

RGS Group Holdings (RGS)’s last minute attempt to block Tongaat Hulett (Tongaat)’s debt to asset deal with the Vision Group (Vision) was dealt a major blow after the South Africa High Court in Durban last week dismissed its urgent application with costs.RGS had lodged an urgent application on November 6, 2024 in the High Court…

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Diesel consumption hits 1,12 billion litres

ZIMBABWE’s diesel consumption increased by 5,38 percent to 1,12 billion in 2024, marking a more than threefold rise in fuel demand over the past 15 years, according to the latest data from the Zimbabwe Energy Regulatory Authority (ZERA).In December 2024 alone, consumption surged by 12,57 percent, with 116,26 million litres used, compared to 93,02 million…

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Government aims to double irrigated land

THE government says it plans to expand Zimbabwe’s irrigated land by approximately 128 percent, aiming to strengthen agricultural output and combat the escalating challenges of climate change.The First Round Crop, Livestock and Fisheries Assessment Report reveals a target to more than double the existing capacity of irrigation from the current 217 000 hectares to 496…

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Annual Tax Review to offer key insights

By Beaven DhliwayoGroup Features Editor THE Financial Gazette, Zimbabwe’s leading business publication and a key voice for industry and commerce, will host its highly anticipated Annual Tax Review Breakfast Meeting on March 13, 2025 in Harare.This event will bring together influential figures from the financial, business, and policy-making sectors.Headlined by Finance Minister Mthuli Ncube, the…

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