INTERNATIONAL Federation of Accountants president Alan Johnson says accounting practitioners should use their skills to boost decision-making in the public sector as economies emerge from the Covid-19 pandemic. This comes as most countries have eased Covid-19 restrictions and are grappling with economic decision-making after two years of turmoil induced by the outbreak of the virus.…
ESTABLISHED clothing retailers like Truworths and Edgars continue to face stiff competition from informal business operators, a local research firm has said. In a research note recently, Morgan & Co said fashion trends were shifting as more people return to the workplace and formal occasions are reinstated on social calendars as the Covid-19 pandemic continues…
BUSINESS has lamented the return of the Reserve Bank of Zimbabwe’s (RBZ) mandatory liquidation of unutilised export receipts after four months, saying the policy is “retrogressive”. To “enhance the circulation of foreign currency in the economy”, the apex bank this week said it was reintroducing the policy, which it scrapped a couple of years ago…
AMTEC Motors Zimbabwe says it is investing in electric vehicles as the globe is gradually phasing out diesel and petrol engines. The company recently lifted the country’s flag high after winning the Sub-Saharan Africa After Sales Achievement Award at the Nissan Business Meeting Awards ceremony held in Egypt recently. The company was also nominated as…
MUTUAL termination of contract is one of the ways in which the relationship between an employer and an employee can be lawfully ended. It is one of the options given to employers who wish to terminate contracts on notice in terms of section 12 (4) of the Labour Act. The Act states that “no employer…
ECOBANK Group says its Zimbabwean operations supported various sectors of the economy, disbursing letters of credit (LCs) and guarantees amounting to US$320 million for the year ended December 31, 2021. Local companies have long been using the LCs to finance international trade where the Reserve Bank of Zimbabwe (RBZ) was the underwriter, assuming the counter…
BUSINESS says the ministry of Finance’s latest policy measures, including legislating the multi-currency system into law, are not sufficient to lift the economy. Captains of industry and commerce who spoke to The Financial Gazette this week said the resurgence of high inflation in the country was one of the biggest threats to both the economy…
FINANCE minister Mthuli Ncube says the government will provide interim relief to millers by releasing wheat and maize reserves with a view to stabilise grain prices. This comes as the country experienced a less than anticipated output during the 2021/2022 season, mainly due to late and uneven rainfall distribution patterns. “Government has noted that there…
OK Zimbabwe Limited recorded a 34,7 percent increase in revenue to $79,9 billion for the year to March 31, 2022, from $59,3 billion the prior year due to a 22,7 percent increase in sales volumes. The retail group said profit after tax grew by 48,9 percent to $2,8 billion during the year from $1,9 billion…
MORGAN & CO’s Made in Zimbabwe Exchange Traded Fund (ETF) gained 18 percent during its first week of trading. This was despite a sustained slump on the Zimbabwe Stock Exchange (ZSE), where the fund is quoted. The ETF, which is constituted of manufacturing companies listed on the ZSE, was launched on June 16 and started…
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