AdvertisementsSUPERMARKET 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.mp3AdvertisementsTRANSFER 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…
AdvertisementsECOBANK 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…
AdvertisementsNMB 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…
AdvertisementsTHE 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…
AdvertisementsManchester 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.…
AdvertisementsPROPLASTICS 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,…
AdvertisementsWITH the full rollout of the Tax and Revenue Management System (TaRMS) set for October 1, 2024, Zimbabwe is on the brink of a significant shift in tax compliance. Advertisements This advanced system aims to streamline tax processes and increase ZIMRA’s oversight capabilities, leaving businesses with little room for error. It is crucial for organisations…
AdvertisementsCALEDONIA Mining Corporation says the commencement of the direct sale of gold produced from its flagship asset-Blanket Mine to a refiner outside Zimbabwe will make it easier for the company to arrange debt facilities with external funders. Advertisements The mining company commenced the direct sale of gold produced from Blanket to a refiner outside Zimbabwe…
AdvertisementsCBZ Holdings (CBZ) has announced a restructuring exercise across its group of companies, aimed at realigning the company with evolving market demands. Advertisements The restructuring process, described as part of broader efforts to “strengthen market position and ensure long-term sustainability,” involves major shifts at the executive level. Thirteen senior executives will be leaving, with mutual contract…
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