INNSCOR Africa (Innscor) says its bakery division saw a 45 percent decline in bread production in 2019 due to flour supply challenges caused by price controls. The company operated within the confines of a regulated pricing framework for much of the period under review. “Extremely limited flour availability at the necessary pricing level needed to…
THE Institute of Chartered Accountants of Zimbabwe (ICAZ) says it is overhauling the CA(Z) qualification to enhance skills relevant in the contemporary environment. Fungai Kuipa, ICAZ’s president said the institute is aware of the changing world and is preparing for the future. “Yesterday’s accountant and the future accountant are worlds apart… ICAZ is embarking on…
PRESIDENT Emmerson Mnangagwa’s decision to parcel out a fifth of the chrome mining claims which were expropriated from Zimbabwe Alloys (ZimAlloys) to war veterans has received condemnation, with analysts warning that the move could deter foreign investment into the sector. Last week, Information minister Monica Mutsvangwa told journalists that 2 348 hectares of the 11…
THE Insurance and Pensions Commission (Ipec) says it has issued the industry with guidelines on revaluation of assets and liabilities in response to recent currency changes for the benefit of policy holders and pension fund members. A 2015 presidential inquiry into policy conversions during Zimbabwe’s previous currency conversion episode in 2009 found that holders lost…
ZIMBABWE is under-estimating the likely economic impact of coronavirus on the fragile country, as the pandemic has emerged as one of the biggest threats to major economies, analysts say. While the health concerns of the highly-infectious and microscopic agent have been ventilated in some detail locally, planning for disruptions that this global disaster could inflict…
THE government’s recent suspension of the fungibility of Old Mutual (OM), PPC and SeedCo International (SeedCo) shares is further evidence of Zimbabwe’s incoherent policies, which will also impair the country’s investment prospects, analysts say. This comes as Harare has previously banned dually-listed counters in 2008 — without any slowdown of the local dollar’s collapse —…
CAFCA Limited (Cafca), received an adverse opinion from its auditors for its financial results for the year to September 30, 2019 due to challenges related to currency changes, a report has revealed. According to a report by Akribos Research Services (Akribos), the basis of the opinion was that the company transacted using a combination of…
ZIMBABWE’s inflation is likely to continue rising this year on the back of multi-pronged pressures on the economy, the Confederation of Zimbabwe Industries (CZI) has said. In an analysis of the country’s year-on-year inflation figures announced by the Zimbabwe National Statistics (ZimsStat) on Monday, CZI said inflation pressure will emanate from increase in money supply…
IN our recently published article entitled, The fallacy of economics by coercion — where we discuss the issue of placing a 90-day lock in period on Old Mutual Limited (OML) — we highlight that the good economist realises that if you want the baker to bake a bigger pie, you do not beat him up…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-253627.mp3?cb=1732288833.mp3THE acquisition of a motor vehicle by an employee from an employer at below market value of the vehicle represents a taxable benefit to the employee. The taxable benefit to the employee is the difference between the market value of the motor vehicle at the time of selling to the employee and the cost at…
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