BUSINESS leaders in Zambia have hailed Zimbabwean manufacturing companies’ recent visit to their northern neighbour, saying it was a great initiative to boost economic ties between the two countries. The visit, which targeted the mineral rich province of Copperbelt, was organised by trade development and promotion body, ZimTrade, last week. Kitwe district Chamber of…
PAN-AFRICAN agro-seed processor Seed Co says counterfeit maize seed on the market poses a threat to national yield targets, as well as farmer income levels. This comes after a joint operation by the company and the Zimbabwe Republic Police recently netted 7,8 metric tonnes of counterfeit maize seed with an estimated value of between US$18…
INDUSTRY and Commerce minister Sekai Nzenza, says her ministry’s strategy for the upcoming year will be underpinned by the promotion of local production to achieve stability in the wider economy. Nzenza told a strategic planning workshop last week that in crafting the strategies, the Industry ministry would be guided by the country’s vision to become…
THE sugar industry is engaging authorities in a bid to shield local manufacturers from unfair competition from cheap imports from the region. Local producers have long complained that cheap low-quality sugar smuggled into the country and sold by informal traders is hurting the local industry. In its 2022 annual report, Hippo Valley chairman Canaan Dube…
FISCAL authorities’ clampdown on ZWL payments in the third quarter is unintentionally fast-tracking dollarisation, a local investment and research firm has said. The tight stance on payment of government service providers and the mopping up of ZWL$9 billion from the economy through gold coins starved the market of liquidity and helped reduce money supply growth.…
GETBUCKS Microfinance Bank (GetBucks) is optimistic that its newly charted US dollar business avenues will cushion it from challenges in Zimbabwe’s broader economy for the foreseeable future. The institution reported an inflation-adjusted loss of $44 million for the half-year to June 30, 2022, which chairman Rungano Mbire said was on the back of depressed lending…
ECOCASH Holdings Zimbabwe (EcoCash) says product innovation provided a solid base for the firm to provide relevant digital solutions that address consumer needs, raising the company’s revenue in the 2022 financial year. For the period under review, EcoCash launched several exciting products and solutions that include the automation of merchant settlements, a self-care portal for…
GENERAL Beltings Holdings (GB) says it deferred paying out a dividend for the half-year to June 30, 2022, opting to consolidate funds to oil its capitalisation plans as the firm urgently needs working capital. This comes as the firm took a heavy battering from the Covid-19 pandemic in the prior period, which affected demand for…
THE sale and purchase of land in Zimbabwe, particularly urban land, has always been mired in drama and controversy. All too often we hear of people who have been duped of their hard-earned money in a land deal. The good news is that most of the pitfalls associated with buying land are avoidable if one…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-285085.mp3?cb=1732294698.mp3THE law requires an employer to withhold and remit employees tax (PAYE) in accordance with the tax deduction tables. There exists separate PAYE tax tables for foreign and ZWL$ earnings and the former tables are to be used when earnings are part or wholly in foreign currency. The updated Finance Bill, which is yet to…
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