The intermediated money transfer tax (IMTT) can be said to be one of the not so celebrated measures introduced by the revenue authorities. Although IMTT has been in existence since 2002, its revision in the year 2018 to two percent on every transaction from US$0.05 on every transaction almost seemed to many as if the…
THE Zimbabwe National Chamber of Commerce (ZNCC) says the lower denomination gold coins introduced by the Reserve Bank of Zimbabwe (RBZ) this week will offer a better store of value for the public than US dollars. This comes after the first batch of gold coins released in July were deemed too pricey for the majority…
THE governor of the Reserve Bank of Zimbabwe, John Mangudya, has warned that if the country holds on to too much raw minerals for value addition, it could lose significant revenue. According to findings from the Zimbabwe National Statistics Agency, major minerals produced in the country, such as nickel concentrates and mattes, are exported in…
IN last week’s article I discussed the principle of parate executie and how it functions to the benefit of creditors who have property pledged to them by debtors, which they can sell privately if the debtor defaults on payment. Normally, debt recovery of this nature requires the creditor to go through formal legal processes before…
THE Securities and Exchange Commission of Zimbabwe (SecZim) says it has started work on establishing a Capital Markets Development Plan that will be completed before the end of the current…
ZIMRE Holdings Limited (Zimre) says claims and expenses increased by 56 percent during the nine months ended September 30, 2022, due to higher claims experienced from agriculture and cyclone-related claims and high operating costs recorded by local entities due to inflationary pressures. The quarter under review was characterised by currency stability and saw the easing…
AGRICULTURE financing will be among the key issues that will come out of the Zimbabwe Agriculture Sector Survey, which will be released to the public next Wednesday by the leading…
AGRICULTURE permanent secretary John Basera says the sector should foster linkages between research, farmers, and extension services as livestock producers adopt climate-resilient technologies. Basera told a pasture production and processing demonstration field day in Mvurwi last week that the government had crafted a number of strategies as solutions to major challenges affecting livestock associated with…
ANALYSTS say the Reserve Bank of Zimbabwe (RBZ)’s Mosi-oa-Tunya gold coins concept has been proven, but the bullion pieces’ impact on the monetary policy is still limited due to the small number issued so far. The central bank introduced half-ounce, quarter-ounce, and tenth-ounce coins this week, in addition to the one-ounce coins that have been…
GOLD producer Caledonia Mining Corporation (Caledonia) says it expects to fulfil the conditions of its acquisition of Bilboes Gold, the owner of the Bilboes gold project in Zimbabwe, paving way for the commercialisation of the venture. This was revealed in the company’s outlook as it announced operating and financial results for the quarter and the…
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