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ZIMRA rues $2,7bn tax concessions
Finance and Economic Planning, Minister Patrick ChinamasaGOVERNMENT lost over $2,7 billion in potential revenue last year after removing value added tax on some basic products, the national tax...
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‘No tax amnesty for defaulters’
THE Zimbabwe Revenue Authority (ZIMRA) says there won’t be a tax amnesty for defaulting corporates, councils and parastatals because this would create a culture of non-compliance. Happias Kuzvinzwa,...
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Zimbabwe maintains low WB competitive ranking
The 2018 WB report shows that Zimbabwe, which has committed to far-reaching reforms to unlock foreign direct investment inflows.ZIMBABWE’S competitiveness as an economy and investment destination...
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Broke Zim government buys fuel firm
President Emmerson MnangagwaPRESIDENT Emmerson Mnangagwa’s impecunious government paid an undisclosed amount to buy fuel company Trek Petroleum last week, which was recently encumbered by a $45 million...
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Scrap indigenisation outright, government told
CoMZ chief executive officer, Isaac KwesuTHE Chamber of Mines of Zimbabwe (CoMZ) has said government should revisit the indigenisation law on platinum and diamonds miners in a bid to lure foreign...
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Suitors warm up to ZMDC
Minister of Mines, Winston Chitando…Overwhelming investor interest in mining firm’s assetsPRIVATE investors have shown overwhelming interest in partnering the Zimbabwe Mining Development Corporation...
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Government embroiled in Trek Petroleum ownership fight
Energy and Power Development, Minister Simon Khaya MoyoA MAJOR shareholder in Chaparrel Trading, a petroleum retail company operating the Trek Petroleum brand, has challenged government’s takeover of...
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‘Zimbabwe’s liquidity to improve on strong rand’
ZIMBABWE’S balance of payments is anticipated to improve on the back of a strong South African rand and weakening US dollar, as the gap between virtual money and hard cash is set to narrow, a United...
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Dangote returns after bribery shock
Nigerian billionaire Aliko DangoteNIGERIAN billionaire Aliko Dangote’s much-hyped plan to invest $1 billion in Zimbabwe’s cement, coal and power industries in 2015 collapsed after political bigwigs...
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StanChart to close seven branches
Standard Chartered is set to close seven branchesSTANDARD Chartered Bank is set to close at least seven branches across the country due to the emergence of mobile and online banking platforms, which...
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Mashold goes after sacked executives’ pensions
ZB Financial Holdings Limited chief executive officer, Ron MutandagayiLISTED property investment and development firm, Mashonaland Holdings (Mashold), is in negotiations with the Insurance and Pensions...
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Honeymoon over for briefcase firms
Finance and Economic Planning, Minister Patrick ChinamasaFINANCE and Economic Planning Minister, Patrick Chinamasa, has warned State entities and local authorities against awarding tenders to briefcase...
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Supa Mandiwanzira moves to reduce EcoCash dominance
THE Minister of Information Communication Technology and Cyber Security, Supa Mandiwanzira, has moved to break Econet Wireless’ domination of the mobile money payment market by setting a deadline by...
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Renewed interest in $1,2bn RioZim project
Sengwa has reserves of 1,3 billion tonnes of coal and RioZim anticipates to tap into this to help ease power shortages in Zimbabwe which presently consumes 1 400 megawatts (MW) daily, down from 2 200...
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Forex backlog worsens — RBZ
The Reserve Bank of Zimbabwe.THE central bank this week disclosed that the foreign payment backlog now stretches as far as 12 months for many companies due to a deepening foreign currency crisis, which...
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Blue Ribbon to revive bakeries
FAST-MOVING consumer goods producer, Blue Ribbon Foods, says it is planning to revive its closed bakeries, which succumbed to a deteriorating economy. More than 150 of the 250 bakeries that used to...
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ZETDC jolts smart meter installation
ZETDC recently said it had completed deploying about 611 000 prepaid meters to domestic premises and smaller institutions countrywide.THE Zimbabwe Electricity Transmission Distribution Company (ZETDC)...
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$12bn investment for Zim mining
Minister of Mines Winston ChitandoAT least $12 billion in new investment is expected to flow into Zimbabwe’s mining sector in the next five years, a new report said last week, indicating that the...
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Zim sovereign risk improves — NKC
Finance and Economic Planning, Minister Patrick Chinamasa and the Reserve Bank of Zimbabwe governor, John MangudyaINTERNATIONAL research firm, NKC Economics (NKC), a unit of leading global advisory...
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Zimbabwe’s external debt soars
ZIMBABWE’S external debt increased three percent to $11,3 billion last year, nearly 80 percent of the country’s gross domestic product (GDP), as punitive interest on arrears exacerbated pressure,...
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