THE stability of the local currency against the US$ will determine the rate at which prices of basic goods and services will be reviewed, the Confederation of Zimbabwe Industries (CZI) has said. In its March update to members, CZI said a widening premium between the parallel market and official rate should be monitored to ensure…
CHEMICALS and fertilisers maker, Chemplex Corporation (Chemplex) says it is hunting for a new chief executive to replace Tapuwa Mashingaidze, who died in January. The company will be taking applications from “suitable candidates” until the end of the month, it said in a statement this week. Chemplex, which is wholly-owned by the Industrial Development Corporation…
LISTED hospitality company, Rainbow Tourism Group (RTG) is now debt-free, after paying off outstanding debts during the year to December 31, 2020, the company’s chairman Arthur Manase said. Announcing the company’s financial results Manase said the repayment of the debenture reduced the group’s gearing to one percent. In 2012 RTG’s gearing was at 70 percent.…
ZECO Holdings (Zeco)’s stock last week gained on the Zimbabwe Stock Exchange for the first time since November 2015, rising by 50 percent to settle at $0,0003. The engineering company is the least valuable on the exchange with a market capitalisation of $139 001. It is also the least frequently traded counter on the local…
CASSAVA Smartech Zimbabwe (Cassava), finance director and executive board member, Emilia Chisango is leaving the fintech giant after a two-year tenure. Chisango, a former president of the Institute of Chartered Accountants of Zimbabwe (ICAZ) was the first female to hold that office in its 103-year history. To date only two other women — Gloria Zvaravanhu…
NMBZ Holdings Limited has reported a profit before tax of $705 million for the year ended December 31, 2020, representing an inflation adjusted increase of more than $14 million compared to the previous year’s inflation adjusted pre-tax profit of $691 million. The group achieved a basic earnings per share of 210,12 cents compared to 96,49…
FINANCE minister Mthuli Ncube says the government will maintain payments to farmers for grain in the local currency, citing stability of the domestic unit. This comes after a recent push by farmers to be paid in foreign currency, arguing that most of their inputs such as fertilisers and herbicides are purchased using United States dollars…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-270233.mp3?cb=1732295258.mp3Value Added Tax (VAT) and transfer pricing (TP) are largely viewed as two separate fields of tax. Adjustments to one area have limited and predictable consequences for the other area. VAT is a transaction-based tax and it is levied on supplies of goods and services. A supply is taxable for VAT purposes if parties have…
FOLLOWNG on our article titled “The Economics of Oil” and our analysis on the impact of oil price shocks on inflation, we assess how the traffic jam on Suez Canal might have impacted oil prices. Approximately 10 percent of global seaborne oil trade, plus a large volume of liquified natural gas (LNG) and petroleum, sails…
THE government plans to shift from maize production to wheat this winter to cut the country’s huge import bill and ensure self-sufficiency in the commodity. The move — which comes in the wake of an anticipated bumper maize harvest this season — would likely ease wheat shortages and cut down on bread prices. “With a…
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