Business

© FINANCE minister Mthuli Ncube’s 2019 Mid-Year Budget Review will further fragment citizens socially and economically, especially the most vulnerable groups, given his new measures which will worsen the economic hardships plunging hard-pressed Zimbabweans deeper into poverty. [GoogleAd] Delivering his budget statement last week in Parliament, Ncube increased the cost of basic consumer goods and…

© The Tourism Business Council of Zimbabwe says it remains optimistic that this year’s edition of Sanganai/Hlanganani World Travel Expo slated for September 12 to 14 will be a success despite fuel challenges. [GoogleAd] Zimbabwe’s tourism industry has been enjoying a purple patch since November last year due to the positive perception the country has…

©  ZIMBABWE’S decision to remove diamonds and platinum from the list of sectors reserved from compulsory indigenisation could open the floodgates for fresh looting and corruption by influential people, a new report has warned. Econometer Global Capital (Econometer) said although this was an important move towards stimulating foreign direct investment inflows into Zimbabwe, which has…

© BINDURA Nickel Corporation (BNC) says its ultimate holding company Asa Resources Group (Asa) has entered into an agreement with a third party in relation to the disposal of its 74,73 percent stake in the nickel mining company. BNC had recently announced that a similar deal had been terminated for unspecified reasons.  [GoogleAd] “Shareholders are…

© INFORMATION and Communication Technology minister Kazembe Kazembe says Africa must rapidly develop a new set of public policies for a single pan-African digital market that fosters accelerated digital transformation and innovation. Addressing a ministerial round table at the India- Africa ICT Expo 2019, which is currently taking place in Kigali, Rwanda, Kazembe said there…

© GOVERNMENT has widened its two percent tax bracket to include the movements of money between mobile money agents and recipients. In October last year, Treasury reviewed the intermediated money transfer tax from five (5) cents per transaction to two (2) cents per dollar transacted “to expand the tax collection base and ensure that the tax…

© FINANCE ministry secretary George Guvamatanga says the country’s power crisis is expected to improve after Zimbabwe paid off part of its debt to Eskom and is in continuous engagements with suppliers. However, the Zimbabwe Power Company (ZPC) also indicated on Monday that the electricity situation in the country may worsen next month due to…

ZIMTRADE, Zimbabwe’s trade promotion body, says it will assist ProBottlers with necessary support to increase their performance on the global export market. This was after the Innscor Africa subsidiary had indicated that local businesses have potential to grow if they get support from organisations such as ZimTrade, albeit current challenges such as shortage of electricity,…

© CALEDONIA Mining Corporation (Caledonia) says it has completed sinking of the $44 million new central shaft at Blanket Mine.The New York Stock Exchange-listed resources firm said the central shaft project, which had been in progress since early 2015, is expected to increase gold production. [GoogleAd] “The project now moves to the equipping phase prior…

© THE Confederation of Zimbabwe Industries (CZI) says Finance minister Mthuli Ncube’s decision to suspend the publication of annual inflation creates a void in the economy, leaving room for speculators to manipulate inflation data. Ncube last week said year-on-year inflation publication will only resume after February 2020 as adoption of the new currency was distorting…