AFRICAN Century (ACL)’s loan book shrunk by 47 percent during the six months to June 2020 due to early settlements triggered by hyperinflation. Following the reintroduction of the Zimbabwe dollar last year, the government ordered the conversion of balances for assets and liabilities from US dollars to the domestic currency on a 1:1 basis, but…
THE National Social Security Authority (NSSA) says it is planning to increase retirement age up to 75 years to increase contribution periods and boost pay-outs to pensioners to counter a…
THE price of fuel sold in Zimbabwean dollars is “nominally higher” or at par with that being sold in American dollars and other currencies, as the government’s routine adjustments — amid a firming and scarce local unit — have somehow changed the pricing dynamics, matrix and status quo. While a litre of petrol is…
PRESIDENT Emmerson Mnangagwa’s government has approved the operationalisation of the Veterans of the Liberation Struggle Act (VLSA), thus paving the way for war veterans’s desire to return to big-time business. The development comes as The Financial Gazette has recently reported that the “special interest” group was on the cusp of launching its own bank, investing…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-261713.mp3?cb=1732288819.mp3THE Finance Act is one of the most crucial pieces of legislation in Zimbabwe as it guides businesses and the economy at large. Taxpayers look forward to the announcement of the fiscal budget and consequently, the Finance Bill as it normally brings changes that affect them in their order of doing business. With the setting…
ABRAHAM Lincoln, the 16th president of the United States and one of the greatest American leaders once said; “The best way to predict your future is to create it”. One industry that has indeed been reshaping its future in the wake of the Covid-19 pandemic is the Global Luxury Brands Sector. As illustrated in the…
THE past few months have seen the legal profession as a whole and some of its members in particular, subjected to serious attack, which has manifested through wanton arrests on fabricated and/or trumped up charges. The country’s top advocate Thabani Mpofu, is being prosecuted for a crime whose facts leave one wondering what has gotten…
DEBATE is raging over whether Zimbabwe should be buying foreign currency from the market now to build up its reserves and to further stabilise the economy. Among the experts who argue that the Reserve Bank of Zimbabwe (RBZ) should consider stocking up on its American dollar reserves is the central bank’s monetary policy committee (MPC)…
THE Harare City Council (HCC)’s US$1 billion water and sewer reticulation deal is in limbo, as the Chinese companies that had been hired to do the job failed to meet a number of pre-conditions, it has emerged. This comes as the local authority’s internal security department has submitted a dossier on several cases of alleged…
Financial group CBZ Holdings Limited (CBZ) has been able to “unshackle itself” from the American government’s Office of Foreign Assets Control (OFAC) sanctions and a US$385 million fine through “years of high-level lobbying on multiple fronts”, chairman Marc Holtzman says. The behemoth, which had been slapped with the potentially crippling embargoes for processing international transactions…
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