AdvertisementsTHE Zimbabwe Revenue Authority (Zimra) says the implementation of its new domestic Tax and Revenue Management System (TaRMS) is 80 percent complete. TaRMS is designed to address significant shortcomings under the current system and to improve further the country’s ease of doing business climate. Current system challenges cut across the core functions of the domestic…
AdvertisementsCFI Holdings (CFI) says it will maintain its efforts to resolve all issues affecting its interests in its land banks to make way for progressive, orderly infrastructure development and service delivery to various settlements. The diversified group said its long-term focus remains directed towards the development of low-cost housing delivery in Harare South in support…
AdvertisementsTHE Chamber of Mines of Zimbabwe (CoMZ) has written to Mines minister Zhemu Soda pleading for a rethink on some of the recently introduced tax measures targeting the mining sector in the 2024 Finance Act.Advertisements The letter, a copy of which was seen by The Financial Gazette and signed by chamber president Thomas Gono, was…
AdvertisementsBOOMING infrastructure projects and a thirst for property investments are expected to propel Zimbabwe’s construction sector to an 8 percent growth spurt in 2024, according to research firm First Mutual Wealth (FMW). The industry, still recovering from the Covid-19 slump that stalled numerous projects, is now basking in resurgent activity. The government itself is expecting…
AdvertisementsFINANCE minister Mthuli Ncube’s “user-pay model” is key for Zimbabwe’s roads development, as the country seeks to achieve regional parity in infrastructural financing. The development comes as his Treasury secretary George Guvamatanga has said “sanctioned Harare must find creative ways of unlocking funding for its socio-economic goals” and the government has unveiled quite several measures…
AdvertisementsHOTELS in Victoria Falls recorded a modest one percent increase in occupancy over the festive season, underpinned by individual travellers and the diaspora. This comes despite local travel traditionally driving the holiday rush, particularly for families and couples seeking year-end breaks. Matabeleland North chairman for the Hospitality Association of Zimbabwe (HAZ), Chiku Mulinde, acknowledged the…
AdvertisementsZIMBABWEAN businesses should prepare to navigate turbulent economic waters in 2024, warns financial services firm Mark and Associates. Its recent report predicts that uncertainty and policy shifts will create both winners and losers in the year ahead. The country’s economy has grappled with policy inconsistencies for years, as authorities battle issues like inflation and exchange…
Advertisements NAMPAK Zimbabwe (Nampark)’s margins are likely to decline owing to El Nino, power cuts and low disposable incomes, despite its revenue reaching a five-year high on record tobacco output, a research firm has predicted. Given the southern African nation’s past experiences with drought in critical years such as 1991-1994, 2002, 2004, 2012, 2016 and…
AdvertisementsTHE Confederation of Zimbabwe Retailers (CZR) has sounded the alarm for a potentially turbulent 2024, urging wholesalers and retailers to prioritise cost reduction and sales optimisation for survival. Finance minister Mthuli Ncube has predicted a slowdown in economic growth to 3,5 percent, from 5,5 percent last year, citing an expected slump in agriculture and a…
AdvertisementsZIMBABWE is actively negotiating with private investors to establish a lithium battery manufacturing plant, according to Finance minister Mthuli Ncube. This move reflects the country’s eagerness to capitalise on its abundant lithium resources and add value to its mineral exports. Boasting some of the world’s largest hard rock lithium reserves, Zimbabwe is strategically positioned to…
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