FINANCE minister Mthuli Ncube’s mid-term budget review expected this month-end must consider submissions made by business. Already, the country’s biggest business organisations have called on treasury to offer tax breaks to cushion industry, which might help reduce the cost of doing business as well as prices of goods and services. The intermediated money transfer tax…
THE desperation of investors seeking liquidity to pay down high interest rate borrowings is undervaluing stocks on the Zimbabwe Stock Exchange (ZSE), a financial services firm has said. First Mutual Wealth (FMW), said despite this, the market remains an inflation hedge and offers decent value retention and growth prospects amid high inflation. “It is an…
MINERS have called for the upward review of foreign currency retention threshold from 60 to 80 percent to allow them to meet their increased forex demands as well as operation and expansion costs. In their proposal to the treasury seen by The Financial Gazette, ahead of the midterm budget statement expected at the end of…
BORDER Timbers Limited will now focus on growing the business and regaining market share following its exit from judicial management early this year. In a trading update for the third quarter to March 31, 2022, finance director Lysius Karimanzira said the company completed its turnaround strategy during the first quarter of the year, culminating in…
THE Insurance and Pensions Commission (Ipec) says it is working with industry to improve pension benefits, which it says are currently “very low”. In its latest report on local pension funds, Ipec said the subsector’s asset base of $488,12 billion as at March 31, 2022, translates to an average asset share per member, including beneficiaries,…
THE gold coins set to be available for sale next Monday will be a store value against the depreciating Zimbabwe dollar, economic analysts have said. Speaking in a policy dialogue discussion organised by former State Enterprises and Parastatals minister Gorden Moyo’s Public Policy and Research Institute of Zimbabwe, economist Eddie Cross said the gold coins…
LEADING multi-asset alternative investment firm Global Renaissance Investments (GRI) says the country’s ongoing infrastructure development has the potential to create long-term prosperity and economic growth for future generations. Zimbabwe’s infrastructure development has witnessed remarkable growth in the past few months as several government projects in transport, agriculture, energy, and mining sectors have moved a gear…
SEED Co Zimbabwe says good opening stocks and early processing owing to the recently installed US$12,5 million artificial dryer will help the company attain value preservation. The seed dryer was commissioned last year and will quicken access to the market, while it is expected to improve seed quality. The company’s group chief executive, Morgan Nzwere,…
AGRICULTURE ministry chief director, strategic planning and business development, Clemence Taderera Bwenje, says the growth of the sector remains constrained by lack of access to long-term finance. This comes as the government has put in place a number of sector specific growth and development plans aimed at improving production and the flow of finance in…
ZIMBABWE’S broad money supply, which consists of domestic and foreign currency deposits, rose to $971,5 billion in May from $671,4 billion in April, latest data from the Reserve Bank of Zimbabwe (RBZ) shows. The RBZ said the money stock was largely composed of foreign currency deposits at 57,55 percent and local currency deposits at 42,13…
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