FINANCE minister Mthuli Ncube says Zimbabwe has been buying more sovereign insurance policies against natural disasters with the African Risk Capacity (ARC) Group since it took out a total payment of US$1,4 million against the 2019/20 drought. ARC is a specialised agency of the African Union that was established to help governments on the continent…
ZIMPLOW Holdings (Zimplow) says it remains focused on delivering its strategy and targets, amid indications that prospects for the fourth quarter are bright. In a trading update last week, the diversified agro-industrial group said it will, however, continue to “trade cautiously given the challenging trading environment”. “The prospects of a good agricultural season, continued growth…
FBC Holdings Limited (FBC) says a rebound in economic activity resulted in improved performance during the quarter ended September 30, 2021, leading to the financial institution realising $9,1 billion in total income. The financial services provider said increased funding pressure for the provision of industrial raw imports was anchored by economic recovery following the government’s…
ZIMBABWE’S broad money supply, which consists of domestic and foreign currency deposits, rose to $364,6 billion in September from $329 billion in August, the Reserve Bank of Zimbabwe (RBZ) has said. According to the RBZ’s monthly economic review for September — published Tuesday — broad money grew by 137 percent between September 2020 and September…
FINANCIAL statements published by companies in Zimbabwe are no longer of any practical use to the intended audience, as current regulatory conditions for their preparation do not allow presentation of an “accurate and fair picture”, an Institute of Chartered Accountants of Zimbabwe (ICAZ) forum heard last week. It comes as companies in the country have…
FIRST Mutual Holdings’ (FMH) assets grew by 21 percent during the nine months to September 30, 2021, driven by gains from investments in stocks and property. It comes as high inflation in Zimbabwe over the past few years has driven investors to value preserving asset classes, particularly stocks. In a trading update, FMH last week…
RAINBOW Tourism Group (RTG) says the relaxation of the Covid-19 restrictions, which has brought tourism sector stability, is a positive development providing green shoots and increased activity for the group. In a trading update for the period ended September 30, 2021, the group said it had narrowed its focus to exploit emerging revenue opportunities to…
PUBLIC-private partnerships (PPPs) are not a new phenomenon in Zimbabwe. From as far back as 1998, PPP deals saw the construction of the New Limpopo Bridge on a 20-year Build-Operate-Transfer arrangement between New Limpopo Bridge (Pvt) Limited and the government of Zimbabwe. PPPs have also been effective in regulating recent deals such as the 2017…
ONE important topic of discussion at the 2021 OESAI Conference had to do with capacity building and skills development in the insurance sector. The paper was presented by Saul Sseremba, CEO of the Insurance Training College (Uganda). Generally, there was consensus among participants that globalisation has disrupted knowledge creation and that there is no monopoly…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-277104.mp3?cb=1732295227.mp3CROSS border hiring of capital equipment, (mining, manufacturing, telecommunications, construction etc) from a non-resident person creates a withholding tax liability for the non-resident in Zimbabwe and an obligation on the part of the resident payer of the royalty or rent to deduct and remit the said tax liability to the Zimbabwe Revenue Authority (Zimra) in…
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