FINANCE minister Mthuli Ncube says the launch of Zimbabwe’s first Exchange Traded Fund (ETF) this week, was a good launchpad for derivatives in the country’s shallow capital market. The Old Mutual Zimbabwe Stock Exchange (ZSE) Top 10 Index ETF was launched on Tuesday and will start trading on the local bourse in January. “This is…
FINANCE minister Mthuli Ncube has given US$38 million to the controversial war veterans fund, as the ex-combatants seek to establish their own bank, mines and other business ventures. Ncube said at least eight farms had been identified to cater for the agricultural side of the fund. “The 2021 budget appreciates and recognises the significant effort…
DURING my many years of private practice, I have encountered several individuals who have been left destitute and penniless after rushing to sign deeds of suretyship with little understanding of the implications of their action. Only when the messenger of court or sheriff of the High Court would have pounced on them and attached their…
PROCHOICE Logistics and Agritec (ProChoice) has introduced new machinery aimed at increasing agriculture productivity and enhancing farmers’ earnings. The local engineering company showcased some of its state-of-the-art machinery at this year’s Zimbabwe Agriculture Show in Harare. Prosper Muchenje, ProChoice’s managing director, said the company’s new generation cultivation rippers were equipped with technology that allows the…
ZIMBABWE’S national payment system, Zimswitch, says card fraud cases have gone down after efforts it extended in partnership with the Reserve Bank of Zimbabwe (RBZ) and the National Prosecuting Authority (NPA), to plug loopholes. It comes as instances of card cloning had risen dramatically in the country with the police recording more than 600 cases…
A LOCAL firm has partnered with Sadc’s Centre for Coordination of Agricultural Research and Development for Southern Africa in an €180 000 European Union (EU)-funded programme aimed at ramping up production in the agriculture sector and mitigating the impact of the Covid-19 pandemic on livelihoods. This comes as Zimbabwe’s agriculture sector suffered a massive drought…
THE Reserve Bank of Zimbabwe (RBZ) this week re-licensed Lion Microfinance (Lion) to resume operations following the lifting of the micro-lender’s curatorship at the end of September. Lion was placed under curatorship in July last year on account of “undercapitalisation and weak management,” and in January this year, seasoned banker Lynn Mukonoweshuro lost a legal…
THERE are growing fears about the long-term viability of Beitbridge Border Post, with Zimbabwe continuing to lose millions of dollars in revenue a month due to bottlenecks at the vital cargo port. This comes as a frustrated Federation of East and Southern African Road Transport Associations (FESARTA) has revealed that regional transport operators are losing…
THE government has exempted payments for the importation of goods and services from the two percent Intermediated Money Transfer Tax (IMTT). The exemption also covers transfer of funds involved in the Reserve Bank of Zimbabwe’s (RBZ) foreign currency auctions, and payments. This follows the promulgation in October, of a statute that extended the IMTT to…
Zimbabwe should consider a gradual shift from reliance on coal in line with international trends and invest in clean renewable energy sources, experts have said. Speaking during The Financial Gazette’s executive dialogue held under the theme, “International coal ban: The future of Zimbabwe’s coal mining” last week, Melania Chiponda a coal expert, said Zimbabwe should…
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