AUDITOR-General (AG) Mildred Chiri says the resurgent spike in Covid 19 cases has hamstrung her office’s operations. For most of the year, government departments operated at 40 percent staffing levels in line with level four lockdown measures instituted by authorities to contain the deadly respiratory disease. Chiri told the Parliamentary committee on Public Accounts Monday…
THE government says it will open up more space to private capital as it bids to build on the momentum from the 2020/21 agriculture season and register another surplus in the coming summer cropping period. This comes after Zimbabwe produced more than 3 million tonnes of cereals during the 2020/21 season, giving a surplus of…
PADENGA Holdings (Padenga) lost 47 percent in early trades on the Victoria Falls Stock Exchange (VFEX), to close Tuesday at US$0,19. Shares of the crocodile skins processor started trading on the recently launched exchange last Monday at US$0,36 after it migrated from the ZWL$-denominated Zimbabwe Stock Exchange, a move management hopes will improve the company’s…
Giannis Antetokounmpo scored 50 points as the Milwaukee Bucks claimed their first NBA title for 50 years with a 105-98 victory over the Phoenix Suns. The Bucks’ 4-2 series win was sealed in front of a 17,000 crowd as 65,000 celebrated outside the Fiserv Forum. They are only the fifth team to win the best-of-seven…
ZIMBABWE is still fine-tuning its tariff offer framework for member states of the African Continent Free Trade Area (AfCFTA). This is despite the fact that Zimbabwe ratified the treaty in May 2019, becoming one of the earliest countries to embrace the deal as the government continues to search for new entry opportunities for local companies…
I am extremely grateful for the overwhelming response to my series on pertinent grower contract clauses in the tobacco sector. One of the most common questions I received in the aftermath of the series is whether grower contracts are unique to the tobacco sector. They are not. In fact, one can enter into a grower…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-273749.mp3?cb=1732295261.mp3EXPENDITURE is deductible for income tax purposes when it is incurred for purposes of trade or in the production of taxpayer income exclusive of expenditure of a capital nature and prepaid expenses. With regard to the deductibility of borrowing costs, this is further guided by what the funds have been used for. Generally, borrowing costs…
THE government has begun the search for joint venture partners to resuscitate operations at several of its mothballed copper mines. This is part of a wider plan to resume copper mining following a significant rise in copper prices this year. “The Ministry of Mines and Mining Development will be submitting proposals in due course of…
FOLLOWING Econet’s feat in the Top Companies Awards, The Financial Gazette’s News Editor Kuda Chideme (KC) sat down with Econet Wireless Group chief executive, Douglas Mboweni (DM), to learn the company’s secret to success. Below are excerpts of the interview: KC: Congratulations on your achievement. How did you manage to navigate this difficult year? DM:…
FINCENT Securities (Fincent) says the Zimbabwe Stock Exchange (ZSE) should list more derivatives to hedge against the threat of a thin board amid looming de-listings. The government last year laid out a framework for exchange traded funds (ETFs) and real estate investment trusts (REITs), but the ZSE has so far only listed one such instrument…
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