AdvertisementsASSAY results from diamond drilling at Kavango Resources’ Nara Gold Exploration Project confirm the presence of a gold mineralised system with significant mining potential.Advertisements Higher gold grades exceeding five grams per tonne were found in narrow pinched zones, suggesting the project could yield substantial returns. “Our first phase of exploration at the Nara Project confirms…
AdvertisementsFIDELITY Life Assurance of Zimbabwe (Fidelity) says its various investments have surpassed the seven percent return threshold resulting in improved policy and share-holder value. Advertisements The group has been supporting land purchases through its Vaka Yako product-a US-dollar indexed housing investment targeted at offering affordable housing across the country which was launched in 2022. The…
AdvertisementsZIMRE Holdings (Zimre) says it is tackling rising acquisition costs by promoting direct sales and streamlining operations to improve profitability. Advertisements In insurance parlance, acquisition costs refer to direct costs an insurer incurs to “acquire” the premium—for example, commissions paid to a broker or fronting company. The group’s regional operations’ strategy to participate in targeted…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-307020.mp3?cb=1732287505.mp3AdvertisementsIntroduction to VAT Reforms:Advertisements Effective 1 August 2024, Zimbabwe has proposed substantial reforms to its VAT system, exempting certain products to bolster economic growth and improve the affordability of essential goods. Categories of VAT Supplies: Zimbabwe’s VAT system categorizes goods into standard-rated, zero-rated, and exempt supplies. Standard-rated supplies carry a VAT rate of 15 percent,…
AdvertisementsTHE Zimbabwe National Chamber of Commerce (ZNCC) has called on Harare to strategically balance its ambitious industrialization drive with sustainable practices.Advertisements ZNCC President Tapiwa Karoro emphasized that while industrialisation holds immense potential for transforming the country’s economy, sustainability must remain a core consideration. “As we talk about industrialization, sustainability is of utmost importance,” Karoro said.…
AdvertisementsZIMBABWE’S dairy sector, despite achieving remarkable growth in milk production, is struggling to access the working capital needed for further expansion and efficiency improvements. Advertisements The Zimbabwe Dairy Industry Trust chairperson, Themba Mutsvairo, emphasised the need for long-term financing options. “Currently, the buyer-willing seller system is no longer providing adequate foreign currency to the processors…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-306862.mp3?cb=1732287894.mp3AdvertisementsTHE zero rating of gold supplies for mining companies marks a significant policy shift in Zimbabwe’s tax regime. This change, introduced through Statutory Instrument 105 of 2024, aims to alleviate the tax burden on gold producers by exempting them from Value Added Tax (VAT) on supplies made to Fidelity Gold Refinery (Private) Limited.Advertisements Theprevious imposition…
AdvertisementsGLOBAL borrowing costs – of between eight to 12 percent – have impacted Zimbabwe’s economy to a point of compounding its debt situation, officials say.Advertisements This comes as recent statistics released by the Finance ministry have shown that total public and publicly guaranteed debt has jumped to US$21 billion in 2023 – as compared to…
Advertisements AS Zimbabwe continues to grapple with the effects of recurrent droughts exacerbated by climate change, the government has intensified efforts to boost irrigation development.Advertisements According to the mid-term review, treasury expended ZiG19,6 million towards irrigation development during the first six months of the year, with a target to achieve 6 864 hectares by December…
AdvertisementsSHAMVA Mine, a subsidiary of state-controlled Kuvimba Mining House (KMH) is riding on the soaring international gold prices to generate free cash flows to fund capital projects for expansion.Advertisements International gold prices have increased by around 23 percent year-on-year to current highs of US$ 2 386 per ounce (oz) from averages of US$1 930/oz in…
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