HARARE – Ariston Holdings Limited’s 2018 revenue increased by 29 percent, from $11 million recorded in the previous year to $14 million. According to the group’s chairperson, Alexander Jongwe, gross margin for the year improved by 36 percent from 31 percent in 2017. “As a predominantly foreign currency generator, the Group was able to ensure…
HARARE – Finance and Economic Development minister Mthuli Ncube said government will refund and exempt China Jiangsu International from Value added Tax (Vat) and income tax dating back to 2012. China Jiangsu international, a Chinese company, completed the upgrading of Victoria Falls International Airport in 2016. The Chinese company consequently won another bid to remodel…
HARARE – The country’s inflation rate has dropped by over seven percent as government has been working tirelessly to contain price increases, Finance and Economic Development Minister Mthuli Ncube has said. Ncube recently told members of Parliament that as of November (last month) the inflation rate was sitting at 9,2 percent, a 7,24 percent drop…
HARARE – Government says it has surpassed its monthly target for December and raised $572,4 million through the controversial two percent tax. According to Finance minister Mthuli Ncube, revenue generated through the tax, also referred to as the Intermediated Money Transfer Tax (IMTT), will be channelled towards the funding of social services and devolution….
HARARE – When running a business is it a requirement on the part of the business person to keep certain records that document and explain all the transactions of his/her business. Records constitute the basis of financial and tax reporting. Not only is financial information important to the business percent but also to a bank…
HARARE – Delta Corporation is set to acquire South African sorghum beer business United National Breweries (UNB) after reaching an agreement with owners Diego South Africa Proprietary Limited. UNB which is headquartered in Midrand produces a range of beer brands in South Africa such as Chibuku, Ijuba and Leo. The deal is expected to be…
HARARE – A brand new luxury boutique hotel will open its doors to the discerning international traveller in the resort town of Victoria Falls next year. Mbano Manor Hotel will bring a unique bespoke experience to global, high-end tourists visiting Victoria Falls. The 19 all-suite luxury boutique hotel is situated within close proximity of the…
HARARE – Pamwe Capital Partners, a Zimbabwean-owned company, is targeting to invest millions in the country’s agricultural sector. Pamwe Capital Partners has been investing significantly in key sectors of the economy in Africa and Asia while leading private equity and investment research and asset management in sub-Saharan Africa. Speaking at a breakfast meeting with government…
HARARE – The cash crisis is worsening with some banks reportedly turning away their clients as early as 7am yesterday, advising that they had no money. Contacted for comment, Reserve Bank of Zimbabwe governor John Mangudya, however, said there is no crisis and individuals should resort to plastic money. “There is no cash crisis. The…
HARARE – Delta Board of directors has appointed three new non-executive directors to join the panel. In a statement, Delta chairperson Caanan Dube said Ema Fundira, Lucia Swartz and Richard Rivett-Carnac are the new non-executive directors who will effectively commence work from January 1, 2018. This also comes after Delta’s Africa Zone president resigned while…
