AdvertisementsTHE Ministry of Mines is seeking to achieve a delicate balance between maintaining viable taxation for miners and promoting value addition and beneficiation in the sector, with a focus on 2025 and beyond.Advertisements This comes as platinum group metals (PGMs), a significant contributor to the country’s mineral export revenues, face a major crisis due to…
AdvertisementsFINANCE minister Mthuli Ncube should introduce more tax reforms and perk up the country’s ease of doing business climate in his pending mid-term fiscal policy statement to boost the economy. Advertisements So recommend economic experts, who told The Financial Gazette — Zimbabwe’s number one business publication — this week that Ncube also needed to take…
AdvertisementsZIMRE Holdings (Zimre) says it will invest US$5 million in Malawi and Zambia as part of a wider strategy to expand market share and strengthen the firm’s competitiveness. Advertisements The ZSE-listed group, with business operations in the pensions, property, wealth management, short-term insurance and insurance broking sectors, wants to grow its flagship business, the reinsurance…
Advertisements African central banks set to decide on interest rates in the next three weeks are unlikely to follow the tide of global easing and maintain tight monetary policies, with one exception.Advertisements “The broader theme is one of caution and data dependence with central banks closely monitoring inflation and currency trends,” said EY Africa Chief…
AdvertisementsKUVIMBA Mining House (KMH) subsidiary, Freda Rebecca Gold Mine (Freda), says it spent about US$100 000 on repair costs for its Mill Number 2, which was down for almost two weeks but is now up and running.Advertisements Located 90 kilometres northeast of Harare in Zimbabwe, the gold miner houses three mills. Head of the KMH…
AdvertisementsCLOTHING retailer Edgars Stores (Edgars) saw its bottom line for the first quarter to March 31, 2024 improve by almost half a million American dollars from prior year levels which it attributed to improved efficiencies.Advertisements This was despite a challenging operating environment characterized by weaker volumes. According to the group, customers generally held back spending…
AdvertisementsHOSPITALITY giant Rainbow Tourism Group (RTG) has significantly increased its support for local suppliers, spending a staggering $28,26 billion in 2023, a 232 percent increase from the $8,52 billion spent in 2022. Advertisements This surge in local procurement comes as the group actively champions the use of Zimbabwe’s new currency, the ZiG. In an interview…
AdvertisementsSTATE-OWNED telecommunications company, TelOne is investing US$31,1 million this year in network and technology infrastructure enhancements amid widespread concerns over Starlink’s expected disruption of its present business model.Advertisements The company says it is however in search of long-term financing options to cater for a broader network upgrade. TelOne is one of the entities that is…
AdvertisementsTHE Zimbabwe Revenue Authority (Zimra) has reported a significant increase in the interception of prohibited goods, seizing items worth US$725 423 in 2023 alone. This represents a 101 percent increase compared to the US$361 420 worth of prohibited goods detected in 2022. Zimra attributes this success to the expanded presence of its canine unit (K9)…
AdvertisementsFIRST Mutual Properties (FMP) says construction of its US$6 million Arundel Office Park block will be complete by September this year and expects a rental yield of either 7 or 8 percent. Advertisements This comes as most traditional blue-chip tenants are moving away from the growing disorderliness in the Central Business District (CBD) mainly characterised…
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