LABOUR broking is not exactly what you would call a mainstream business in Zimbabwe. It is shrouded in mystery and there is uncertainty as to whether it is legal or not. Back in 2013, a local newspaper reported labour broking as being illegal. That same newspaper touted the benefits of labour broking three years later…
THE Securities and Exchange Commission of Zimbabwe (SecZim) says a number of derivatives are in the pipeline for the local capital market, following the introduction of the country’s fourth exchange traded fund (ETF) last week. A derivative is a financial instrument that derives its value from another asset. These instruments have headlined global financial innovation…
ZIMBABWE’S largest business membership organisation, the Confederation of Zimbabwe Industries (CZI), will next month convene its annual congress in Victoria Falls. The must-attend event, which is the CZI’s premier annual event, seeks alignment and consensus on the complimentary business and policy imperatives for achieving industrial and economic transformation as well as growth. It is the…
AGRICULTURE minister Anxious Masuka says the government is introducing infrastructure, finance and market support for smallholder horticulture under the Presidential Rural Development Programme. This comes after the launch of the programme by President Emmerson Mnangagwa in Mangwe, Matabeleland South Province, last December. Speaking at the commencement of the programme in Mashonaland West last week, Masuka…
BUSINESS is concerned that the economy continues to show signs of stress, amid growing inflation and volatility of the local currency, threatening Zimbabwe’s projected 5,5 percent economic growth for 2022. This comes as the cost of doing business in the country also continues to rise on the back of surging labour and other input costs,…
ZIMBABWE’S broad money supply, which consists of domestic and foreign currency deposits, rose to $671,4 billion in April from $589 billion, latest data from the Reserve Bank of Zimbabwe (RBZ) shows. The central bank said the money stock was largely composed of local currency deposits at 54,47 percent and foreign currency deposits at 45,01 percent.…
ZB FINANCIAL Holdings (ZB), which rebranded last week, says one of its shareholders is set to acquire a controlling stake. In a statement last week, the group said the shareholder is currently “engaged in negotiations for a potential acquisition of a control block of securities”. ‘Control block’ commonly refers to equity representing either a majority…
FINANCIAL Securities Exchange (FINSEC) yesterday launched Zimbabwe’s first derivatives market, which it says will be available for futures, options and indices. The platform also features an automated derivatives writing solution. Derivatives are contracts between two or more parties whose value is based on an agreed-upon underlying asset, or set of assets such as commodities, securities…
THE government says there have been significant exchanges of high-level visits between the public and private sectors of Turkey and Zimbabwe as both countries eye increased commercial relations. Acting Foreign Affairs minister Oppah Muchinguri last week said that several memoranda of understanding and agreements on cooperation in different sectors had been discussed and were awaiting…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-281940.mp3?cb=1732288066.mp3THE Zimbabwean tax system is based on the source plus concept. This makes residents liable to tax on their income for services rendered in Zimbabwe, despite the contract being signed elsewhere or the remuneration being paid from a source outside Zimbabwe. Residents who are however on temporary assignment outside Zimbabwe are deemed by section 12(1)(c)…
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