WHEN his daughter was born in 1989, Misheck Tshuma opened an endowment policy with a local life assurance firm. He was positive he would not be forced to fork out university fees in his old age. But 19 years on in 2008, everything he had spent years putting aside for his daughter’s tertiary education was…
TOURISM and hospitality group African Sun’s revenues have continued to grow on the back of increased foreign arrivals, managing director Edwin Shangwa has revealed. Shangwa told shareholders at the group’s 46th annual general meeting last week that the company’s revenue had grown by 30 percent during the first five months of 2018. He attributed the…
ZIMBABWE Stock Exchange-listed gold producer Falcon Gold (Falgold) says the local gold production industry could grow significantly if government effects reforms on the tariff and tax regime.Advertisements The country’s mining sector, which is awaiting the enactment of a new law, is struggling to stay afloat due to a plethora of high taxes and royalties that…
ECOCASH plans to further reduce its tariffs soon, the mobile money service’s chief executive officer Natalie Jabangwe-Morris has revealed. Speaking at the launch of EcoCash’s dedicated business wallet in Harare last week, Jabangwe-Morris said the mobile money service was planning to slash its tariffs again this year before the elections which are scheduled for July…
A BILL which is meant to amend the Zimbabwe Democracy and Economic Recovery Act of 2001 (ZIDERA) passed a United States Senate committee stage on Tuesday. The bill, which was introduced by senators Jeff Flake and Chris Coons in March this year, updates ZIDERA and states the steps Zimbabwe needs to take to have sanctions…
OLD Mutual Limited shares closed at 450 cents on Tuesday, the stock’s first day of trading on the Zimbabwe Stock Exchange (ZSE). Trading in the stock, which represents a relisting of Old Mutual plc following a split of the entity into four separate listed-businesses, opened on Tuesday across five exchanges. Old Mutual Limited which holds…
PREMIER Service Medical Aid Society’s (PSMAS) subscription base has been hit by poor economic performance. PSMAS board chairman Jeremiah Bvirindi told society members at the group’s annual general meeting last week that subscriptions declined to $238 million in 2017 from $242 million in 2016. “The group attained revenues of $248 million, while subscriptions were $238…
THE first high-level Eritrean delegation in decades has reached Ethiopia for a visit which could ease decades of military tension.Advertisements Eritrea won independence from Ethiopia in 1993 after a 30-year conflict – but a border war five years later killed tens of thousands. Diplomatic ties have been cut between the two countries for almost 20…
Germany kept their World Cup campaign alive with a come-from-behind 2-1 win at the death over Sweden in Sochi on Saturday. Julian Draxler was making the early inventions and, after breaking out wide, he found space to whip in a low ball but none of his teammates were able to convert.Advertisements Sweden caught the opposition…
LOCAL pension funds have departed from an outdated method of accounting for investment assets as stipulated in the Pension and Provident Funds Act, a member of the insurance and pensions subcommittee at the Institute of Charted accountants of Zimbabwe (ICAZ) has revealed. Hope Mulilo, an expert in Audit, International Financial Reporting Standards (IFRS), pensions and…
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