ZIMBABWE is actively seeking to attract Turkish investors into various sectors of the economy as relations between the two countries grow. Zimbabwe opened its embassy in Ankara in 2019 and currently, the country’s main export items to Türkiye, formerly known as Turkey, are platinum, cotton, tobacco, gold, iron and textiles. Türkiye on the other hand…
BRIDGEFORT Capital (BFC), formerly MedTech Holdings, has warned that a review of Zimbabwe’s capital gains tax (CGT) to 40 percent, as recently proposed by the Treasury, would “undermine” the country’s capital markets. On May 7, the government announced a raft of measures including an increase in CGT on Zimbabwe Stock Exchange shares to 40 percent.…
INFRASTRUCTURE development plays a critical role in promoting economic growth towards the country’s Vision 2030 of becoming a middle-income economy, a Reserve Bank of Zimbabwe (RBZ) official has said. RBZ principal bank examiner Jerry Borerwe told a Construction Industry Federation of Zimbabwe annual congress, recently held in Victoria Falls, that infrastructure development created massive business…
MOST of Zimbabwe’s formally employed individuals do not have a pension arrangement other than the compulsory “inadequate” state plan, an industry report shows. In a report for the quarter to June 30, 2022, the Insurance and Pensions Commission (IPEC), said there was a general increase in membership of pension funds during the year to 976…
THE government says it is working on modalities to ensure health insurance policyholders are not charged shortfalls, at a time medical aid societies collected ZWL$21 billion from contributors in 2021. At the 13th annual all stakeholders’ conference on health held by the Association of Healthcare Funders of Zimbabwe (AHFoZ) in Victoria Falls recently, Vice President…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-284717.mp3?cb=1732294704.mp3PROCEEDINGS in the National Assembly pertaining to the debate on the Finance Bill have displayed the House’s displeasure at the prescribed rate on the sale of listed marketable securities, which some have termed a punitive measure. The Budget brought forward a proposal and alluded to the fact that where a marketable security listed on the…
FARMERS say persistent inflation and exchange rate instability have undermined confidence in the financial system compounding funding challenges in the agriculture sector. This comes as the government said the country will produce enough wheat this year to meet national annual demand for the first time. Commercial Farmers Union chief economist Antonette Chingwe, however, cautioned that…
ALTHOUGH Zimbabwe’s economy continues to recover from the Covid-19 setback and various other shocks experienced over the past few months, experts say the progress is slow. As a result, business leaders who spoke to The Financial Gazette this week said both industrial and commercial activity would still likely be below pre-pandemic levels by this coming…
BUSINESS says rolling power cuts in Zimbabwe, which are running up to 12 hours a day, have increased the cost of doing business and may result in price increases, threatening economic growth targets. This comes after ZESA Holdings’ distribution arm, Zimbabwe Electricity Distribution Company (ZETDC) recently said that increased economic activity had spurred increased demand…
ZIMBABWE’S pension funds have found a home on the Victoria Falls Stock Exchange (VFEX) for their US dollar holdings, most of which are now in equities, according to the latest industry report. In the report, covering the quarter to June 2022, the Insurance and Pensions Commission (Ipec) said the total foreign currency-denominated assets for the…
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