INNSCOR Africa (Innscor) says difficulties relating to uncertain tax law interpretations could negatively affect its results for the current fiscal year. The light manufacturing group said there are increasing complications arising from the wording of the tax legislation in Zimbabwe, particularly in relation to the currency of settlement for certain taxes, which gives rise to…
ARISTON Holdings (Ariston) continues to focus on improving production processes and product quality, as it aims to drive its export sales volumes. In a trading update for the first quarter that ended December 31, 2022, the horticulture exporter’s company secretary Nkosilothando Ncube said increased export sales will translate to increased profitability, which mitigates against the…
CAFCA, the country’s biggest cable manufacturer, says it is worried about the dwindling supply of local scrap copper because it does not have enough foreign currency to import the metal to cover the deficit. While the company uses aluminium, polyvinyl chloride, polyethene and galvanised steel wire, copper remains the main raw material in the production…
NATIONAL Building Society (NBS) says it is set to deliver 200 units in Harare’s Tynwald suburb during the first quarter of 2023, on top of the 600 units the institution churned out through its Dzivaresekwa project in 2022. Feeding into the National Development Strategy 1 (NDS1), NBS managing director Tapera Mushoriwa (TM) says the institution…
LOW returns continue to stifle the appeal of money market instruments in Zimbabwe, amid persistently high inflation in the southern African country’s economy. Even though the central bank last year raised its policy rate and medium-term lending rate to 200 percent and 100 percent, respectively, this was still below inflation, which was reported at 243,8…
IF you are driving out of Harare towards Bulawayo from the CBD, you will come across no less than five Chicken Inn outlets. You will also find several Chicken Slice outlets dotted along the way. Such is the penetration that these two brands have in Zimbabwe. In fact, they have become synonymous with fast food.…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-288177.mp3?cb=1732294482.mp3Capital allowances are a tax incentive designed to stimulate growth and investment in businesses by allowing the cost of qualifying capital expenditure to be counterbalanced against operating profits, thereby reducing the amount of tax liability. Capital allowances are obtainable when a business purchases assets i.e., plant and machinery, or constructs, refurbishes or fits out commercial…
BUSINESS says Zimbabwe’s relentless power cuts are causing untold damage to the economy, with the “no production, no pay” policy now being implemented by some stricken companies an indication of this calamity. Speaking to The Financial Gazette this week, captains of industry and commerce said the policy was being effected by some companies out of…
THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) says its tamperproof prepaid and smart meters have reduced revenue leakages. The state power utility has over the past lost millions of dollars to meter tampering and illegal connections, which have threatened its viability. Recently, the company has been on a drive to install prepaid and smart…
THE Zimbabwe Insurance and Pensions Apex Council (Zipac) says it is assessing the impact of increased migration of companies from the Zimbabwe Stock Exchange (ZSE) to the foreign currency denominated Victoria Falls Stock Exchange (VFEX), but is concerned at the industry’s ability to continue participating as the majority of its business is in Zimbabwe dollars.…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More