THE Competition Act (“the Act”) was passed almost a decade ago in 1996 after government had awakened to and realised the harmful nature of monopoly situations in our economy. At the time, our economy had spent 16 harsh years dominated by underperforming, mismanaged, loss-making, corruption riddled private and public conglomerates. It remains to be seen…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-253468.mp3?cb=1732288832.mp3PRIOR to 2019, only persons who were not VAT registered operators and those consuming or utilising imported services to produce exempt supplies would bear the burden of VAT on imported services. This changed with effect from January 1, 2019 when the government extended the tax burden to all importers of services notwithstanding some may be…
ONE of the main focus areas for the modern-day economist is to advocate for policies earmarked at alleviating poverty and reducing inequality. Most economists concur that economic growth should be maintained as a major policy objective. A major reason for this being that it is a feasible option to solve the problem of poverty. The…
TIME has often proved that vows given before marriage officers and exhilarated guests are meaningless as marriages have often crumbled after parties have discovered their incompatibility. When parties get joined in holy matrimony, their expectation is to enjoy the marriage or experience hardship together hoping that only the natural and inevitable phenomenon of death will…
THE National Railways of Zimbabwe (NRZ) says it is looking to create partnerships within the region and internationally to help revive the country’s rail services. It comes as efforts to recapitalise the embattled state enterprise — currently operating at a capacity utilisation of only 20 percent — have stalled. “We have a strategic plan that…
FINANCE minister Mthuli Ncube has announced “a managed and floating exchange rate” as well as immediate introduction of a Reuters electronic trading, in a bid to shore up the floundering local currency and arrest runaway inflation. But by end of the day yesterday, the official interbank market rate — which has partly been controlled by…
THE Deposit Protection Corporation (DPC) has won a Supreme Court appeal over Al Shams Global BVI Limited (Al Shams)’s plans to compel the state agency to “honour its liquidity support agreements” with Interfin Banking Corporation Limited (Interfin) and which would have given it an advantage over liquidation proceedings. This followed a 2016 High Court ruling…
ZIMBABWE must urgently correct issues around property rights, bilateral agreements, dividend repatriation and the elimination of cartels-driven graft as well as encouragement of industrial competition if it is to attract foreign direct investment (FDI), and resuscitate its floundering economy, South African ambassador Mphakama Mbete says. This comes as the International Monetary Fund (IMF) has slammed…
THE Confederation of Zimbabwe Industries (CZI) says the government’s response to the country’s economic crisis lacks the much-needed urgency. The country’s economy last year shrunk by 6,5 percent as industry’s capacity utilisation dropped from 48,2 percent to 36,4 percent amid hyperinflation. “We are in a dire situation, but we do not sense that the response…
MASHONALAND Holdings (Masholds) says a depressed mortgage market in Zimbabwe has made acquisition and property development challenging. The country is in its second episode of hyperinflation in a decade, which has seen annual inflation breaching 500 percent, and has made the debt market dysfunctional. “Interest rates, ranging from 30 percent to 40 percent, that are…
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