THE Zimbabwe Revenue Authority (Zimra) should develop sector-specific strategies to bring startups, micro-operators and small enterprises into voluntary tax compliance, an official has said.Advertisements Deputy minister of Finance, Kudakwashe Mnangagwa, highlighted the urgent need for a focused approach, noting that approximately 70 percent of the national economy currently remains informal or hidden from the tax…
ZIMBABWE should endeavour to participate in the global digital and artificial intelligence (AI) ecosystem by leveraging its abundant red metals, which are crucial for energy transmission and high-speed data communication, experts say.Advertisements Red metals are non-ferrous metals that include copper, brass, and bronze, distinguished by their reddish hue and have unique properties that interconnect in…
By Professor Mandivamba RukuniAdvertisements ZIMBABWE’S agrifood system is in the middle of at least five interlinked transformations that are gathering speed. 1. Rapidly growing urban and rural agglomerations with rising per capita incomes; 2. A changing diet — consumers are eating more diverse, higher-value foods; 3. Fast evolution in post-farm systems for processing, marketing and…
By Simbarashe HamudiAdvertisements IN Zimbabwe, the taxation landscape for companies undergoing reconstruction is shaped by specific legislative provisions that facilitate asset transfers and corporate reorganisations without incurring capital gains tax. Section 15(1)(a) of the Capital Gains Tax Act provides a mechanism for the conversion of foreign companies into Zimbabwean-incorporated entities. When ownership of a specified…
THE government has approved the importation of cement to address critical national shortages.Advertisements Speaking in the National Assembly on Wednesday, the minister of Audit and Skills, Paul Mavima, who was the acting leader of government business, said the Cabinet approved cement importation with immediate effect. “This is a matter that the Cabinet discussed yesterday (Tuesday)…
THE Minerals Marketing Corporation of Zimbabwe (MMCZ) says it is waiting for approval from the relevant authorities to implement the proposed commodities exchange.Advertisements The commodities exchange for minerals is a specialised marketplace where standardised contracts for raw and refined metals and minerals are traded. MMCZ general manager Nomusa Moyo told The Financial Gazette that the…
POWER utility Zesa says it is awaiting government approval of the US$455 million Hwange power station refurbishment deal with the Indian-based company Jindal.Advertisements This deal was structured under a 15-year rehabilitate, operate, and transfer (ROT) arrangement designed to bolster the country’s electricity generation capacity. Zesa acting chief executive officer, Cleopas Nyachowe, told parliamentarians on Tuesday…
THE inaugural micro, small, and medium enterprises (MSMEs) survey and awards ceremony, slated for next week, is set to uncover crucial data from the burgeoning sector, highlighting its complex array…
By Bothwell Nyajeka Advertisements IN recent months, I have been approached by a number of professionals, from both the private and public sectors, seeking guidance on how to deal with workplace politics. Some wanted to know how to navigate office politics to position themselves for promotions, while others simply wanted assurance that politics will not…
FIRST Capital Bank (FCB) has entered into a definitive binding agreement with ASB Hospitality LLC for the disposal of its entire interest in Makasa Sun.Advertisements The deal, valued at US$30 million, transfers 100 percent ownership of Makasa Sun, whose sole asset is the Makasa Sun Hotel, formerly known as The Kingdom at Victoria Falls. The…
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