AdvertisementsTHE Confederation of Zimbabwe Retailers (CZR) continues pushing for full market liberalisation of the exchange rate system to guarantee complete price discovery and meet the sector’s foreign currency demands. This comes as economic experts criticised the new delegated legislation, which compels businesses to use the exact average weighted exchange rate from the interbank forex market…
PRO Crafters Zimbabwe, a vibrant community dedicated to showcasing Zimbabwe’s rich artisan heritage, is set to ignite the entrepreneurial spirit with its inaugural Small Business Expo 2024.
AdvertisementsA CRITICAL shortage of skilled engineers in Zimbabwe is threatening to undermine economic recovery and infrastructure development, according to a report by the Engineering, Iron and Steel Association of Zimbabwe (EISAZ). The report reveals a staggering 93,6 percent skills gap in the engineering sector, potentially derailing efforts to modernise and industrialise the nation. This shortage…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-303660.mp3?cb=1732287632.mp3AdvertisementsIFRS 17, issued in May 2017, replaces IFRS 4, governing accounting for insurance contracts from 1 January 2023.Advertisements It shifts from a premium-centric to a service delivery and risk release model, aiming for a more accurate reflection of insurer performance and revenue recognition timing. It further standardises reporting with expected value and current value measurement…
AdvertisementsZIMRE Holdings (Zimre) says it is looking forward to working closely with Mutapa Sovereign Wealth Fund (Mutapa) in its pursuit of initiatives that seek to yield considerable return on investment from agri-business firm, CFI Holdings.Advertisements The National Social Security Authority (NSSA) and Zimre have a 38,91 percent shareholding in CFI held through Stalap Investments making…
AdvertisementsIN the wake of Zimbabwe’s recent introduction of a gold-backed currency, the Zimbabwe Gold (ZiG), to replace the inflation-ravaged Zimbabwean dollar, some in the accountancy profession are exploring a novel approach — triple reporting of financial results.Advertisements This innovative strategy aims to address the complexities and restore confidence in financial reporting during the ongoing transition.…
AdvertisementsFINANCIAL services group CBZ Holdings says the Reserve Bank of Zimbabwe (RBZ) has so far disbursed US$54,08 million under a special settlement arrangement to expunge the legacy liabilities and nostro gap accounts. This represents a 38,43 percent increase from the US$39,06 million recorded as of December 2022. The presence of legacy debts on the company’s…
AdvertisementsTHE Tobacco Industry and Marketing Board (TIMB) has reported a significant decrease in tobacco side marketing this season, attributed to stricter penalties and a new compliance framework.Advertisements Side marketing, a form of contract default where farmers sell to a different buyer than the one who provided inputs, is often driven by price and poor market…
AdvertisementsMUTAPA Investment Fund (MIF) is wasting no time in pursuing its mission of safeguarding national assets and bolstering the country’s economy. During the Fund’s inaugural meeting, chief executive John Mangudya underscored the critical importance of prioritising national interests, making it clear that MIF is guided by core values of transparency, accountability, excellence, commitment, and integrity.Advertisements…
AdvertisementsThe Financial Intelligence Unit (FIU) is setting its sights on a new target to boost acceptance of Zimbabwe’s currency, the ZiG. After focusing on larger businesses, the FIU recognises informal shops’ role in the economy and acknowledges past neglect of these stakeholders. In this interview with The Financial Gazette’s Almot Maqolo (AM) FIU director-general Oliver…
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