THE Institute of Directors Zimbabwe (IoDZ) says there is need for specific training and accreditation for board members to improve adherence to corporate governance and stem corruption. Mike Juru, the IoDZ chairman, said there is a gap in the market which was leading to unprofessionalism and enabling corruption. “The success or failure of organisations hinges…
THE Zimbabwe Insurance and Pension Apex Council (Zipac) says the continued suspension of trading in Old Mutual (OM) and PPC shares is hurting its members, which hold significant investments in the counters. Fungibility of the two counters on the Zimbabwe Stock Exchange (ZSE) was suspended in July 2019 by the government, which claimed speculation involving…
ZIMBABWE Revenue Authority (Zimra) says it has submitted the list of shortlisted candidates vying for the tax collector’s top post to the Office of the President and Cabinet (OPC) for security vetting. Zimra vice board chairperson Josephine Matambo told Parliament’s portfolio committee on Budget, Finance and Economic Development this week that the tax collector intends…
THE Tobacco Industry Marketing Board (TIMB) says all players in the tobacco marketing value chain should get vaccinated in the wake of the third wave of infections which has also affected staff at some tobacco companies and threatens to disrupt marketing of the crop. The new wave has seen some of the highest number of…
In last week’s instalment I gave examples of certain clauses that tobacco contractors have to include in their grower contracts. These allow the contractor to derive the most value while minimising risk. This week, I will deal with how inserting certain clauses into tobacco contracts and couching them correctly helps contractors recover debts in foreign…
THE government says it is not perturbed by the resurgent local use of the greenback, alongside the Zimbabwe dollar — adding that this is helpful in maintaining market stability and keeping the economy on a growth trajectory. Speaking to The Financial Gazette this week, Treasury spokesperson Clive Mphambela said the forthcoming mid term review statement…
INTEREST in the Victoria Falls Stock Exchange (VFEX) is growing as the US$-denominated market, which lists Padenga Holdings (Padenga) tomorrow, is also anticipating a third listing in September. The VFEX was launched last October, with authorities hoping it would shore-up foreign capital inflows following years of massive investor flight. Until now, the exchange had only…
NATIONAL Foods Holdings (NatFoods) and Simbisa Brands (Simbisa) have joined the Zimbabwe Stock Exchange (ZSE) Top 10 Index constituents list after registering considerable gains during the second quarter of 2021. The exchange’s latest review of the list, which ranks counters by market capitalisation, saw British American Tobacco Zimbabwe (BAT) and Padenga Holdings falling out after…
IN a major development, the Insurance and Pensions Commission (Ipec), says it will soon compensate thousands of policyholders who lost their life savings in 2009 when the country introduced a multi-currency system. The loss of savings occurred when the country switched to the United States dollar in 2009 ― following the consummation of the short-lived…
ZIMBABWE’S trade deficit with its neighbour and biggest trading partner, South Africa (SA), shrunk by 58 percent to US$50 million in April, compared to March. Latest data shows that exports to SA increased by 26 percent to US$176 million during the month compared to March. This was in spite of a four percent decline in…
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