TANGANDA Tea Company (Tanganda) says its energy costs declined in 2022 on account of investments in renewable energy, which now satisfies 20,55 percent of all power needs. This comes at a time the country is facing an energy crisis, with increasing shortages of electricity hampering industry and investment. “Tanganda Tea Company Limited invested in solar…
ZIMBABWE’s first independent television station, 3Ktv, celebrated a full 12 months of live and uninterrupted broadcasting on Tuesday, as the history-making free-to-air channel continues to grow from strength to strength.
THE Public Accountants and Auditors Board of Zimbabwe (PAAB) says the country has taken a pre-emptive approach to sustainability disclosures in financial reporting by electing early adoption of International Financial Reporting Standards (IFRS), which are yet to be issued. The PAAB decided on early adoption of the standards last year, as Zimbabwe became the third…
ZIMBABWE’S broad money supply, which consists of domestic and foreign currency deposits, increased to $2,33 trillion in December last year from $2,07 trillion in November, the latest data from the Reserve Bank of Zimbabwe (RBZ) shows. In its monthly economic review for December, the RBZ said the money stock was composed of foreign currency deposits…
ZIMBABWE’s business sector is eyeing increased business ties with Pakistan after a surge in exports to the Asian country from just over US$1 million in 2017 to US$14,3 million in 2021. This comes as the Zimbabwe National Chamber of Commerce (ZNCC) signed a memorandum of understanding (MoU) with the Federation of Pakistan Chamber of Commerce…
ONE of the fastest-growing sectors in Zimbabwe is financial technology, which has led to a rise in the applications and tools that improve international remittances, a major source of incoming liquidity to the country. With remittances from overseas surging from US$1 billion in 2020 to US$2 billion in 2022, further innovations can be expected to…
… as viewers and advertisers warmly embrace new station THE widely-celebrated launch a year ago of the country’s first independent television station, 3Ktv, changed Zimbabwe’s hirtherto drab broadcasting sector for…
BINDURA Nickel Corporation (BNC) reported a 44 percent drop in nickel in concentrate for the nine months ended December 31, 2022 owing to lower milled tonnage and grade of mined ore. For the quarter, the amount of nickel in concentrate produced was 80 percent less than during the same period last year. “The company’s performance…
ZIMBABWE’s ongoing oscillations between the United States dollar and ZWL use are normal for a country that is in a de-dollarisation process, an economic expert has said. Economics professor and Africa Economic Development Strategies executive director Gift Mugano told a recent CEO Africa Round Table that Zimbabwe’s de-dollarisation experience was not unique, but common to…
AMALGAMATED Regional Trading (ART) says its taxes for the year ended September 30, 2022 increased by 260,61 percent to $1,62 billion from $449,78 million in the comparative period. Payments included corporate tax, value-added tax (VAT), import duty, pay as you earn (PAYE), withholding tax of 10 percent, withholding tax of directors, aids levy, fines and…
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