THE US$120 million injected into the economy in the form of bonuses for civil servants will ease pressure on the exchange rate that has seen inflation rising again after a sustained decline, analysts say. The government started paying out the bonuses at the end of November and analysts who spoke to The Financial Gazette this…
UNIFREIGHT Africa exceeded both its budgeted and prior comparable period revenue performance in the third quarter of 2021, despite a challenging trading environment. In a trading update last week, the logistics company said total tonnage hauled during the period was ahead of budget by 3,8 percent and 28 percent higher than what was achieved during…
THE Seed Co group (Seed Co) plans to introduce new seed drying technology across the rest of its operational markets, after successfully installing a US$12,5 million dryer in Zimbabwe. The seed manufacturer’s Victoria Falls Stock Exchange-listed unit Seed Co International, operates in a number of sub-Saharan countries including Zambia, Kenya, Malawi and Nigeria. Group financial…
ONE interesting discussion topic at the Zimbabwe Association of Pension Funds (ZAPF) Conference held last month was on the implications of poor macro-economic performance on the pensions industry in Zimbabwe. The paper was presented by Prosper Chitambara, a development economist with the Labour and Economic Research Institute of Zimbabwe. The key take-away was that the…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-277427.mp3?cb=1732295226.mp3Zimbabwe introduced transfer pricing legislation on January 1, 2014 that is meant to forestall transfer pricing in transactions involving associates. These complement the “old rules”, i.e. section 23 and 24 of the Act. Unlike the old rules, which are meant to address transfer pricing issues in transactions involving non-residents, the new rules are both domestically…
THE recently decided case of Mbatha v Zizhou & Anor HH 675/21 is what some would refer to as a Rubicon moment. It presents a new frontier for the protection of employees’ rights within the workplace, particularly as it pertains to sexual harassment. A common misconception is that sexual harassment has to have taken place…
FIRST Mutual Wealth (FMW) says the government must come up with policies that encourage tax compliance, at a time the country is losing millions through tax evasions. In a recent 2022 national budget review statement, FMW said that informalisation and lack of tax compliant entities was piling pressure on formal enterprises. “Policies that ease and…
SILVERBACK Asset Management company recently launched an innovative ‘cattle bank’ project — Mombe Mari Unit Trust — with partners Fabwell Farming which seeks to contribute towards re-building Zimbabwe’s cattle industry…
THE government plans to recapitalise and resuscitate Lancashire Steel in a bid to stimulate industrial expansion in the economy, Finance minister Mthuli Ncube has said. The company ceased operations about a decade ago following the closure of its major raw supplier, the Zimbabwe Iron and Steel Company (Ziscosteel), in 2008. “Government will continue work with…
THE state trade development and promotion body, ZimTrade, says value added exports grew by 28 percent from US$221 million in 2020 to US$283 million in 2021 driven by, among other sectors, clothing and textile. In an export report for the period between January to August 2021 produced by ZimTrade, total exports stood at US$3,75 billion,…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More