HARARE – Zimbabwe’s regulatory authorities have granted authority to open four special economic zones that offer investors greater incentives and fewer restrictions than available to date in the country, the Zimbabwe Special Economic Zones Authority (Sez) CEO Edwin Kondo has said. The new economic zones will be in Bulawayo, Victoria Falls, Mutare and Beitbridge. The…
HARARE – A South Africa-registered firm has tabled before the Reserve Bank of Zimbabwe governor John Mangundya a bailout package to import fuel and basic commodities into Zimbabwe as the economy sinks into recession. African Medallion Group (AMG) said — in a letter to Mangudya — the move is aimed at helping Zimbabwe out of…
HARARE – Government is owed over $4,5 billion by tax evaders, Finance ministry secretary George Guvamatanga has said. Presenting the 2018 expenditures and 2019 budget priorities before the parliamentary portfolio committee on Finance on Monday, Guvamatanga expressed concern over tax dodging. “It is important to note that we have a compliance issue, chairman. As of…
HARARE – Treasury has raised Zimbabwe’s economic growth forecast to six percent from an initial projection of 4,5 percent, President Emmerson Mnangagwa said. Despite the International Monetary Fund (IMF) pegging the country’s 2019 economic growth at 3,6 percent, Mnangagwa yesterday told business leaders that Treasury had assured him the country’s ailing economy would rebound by…
HARARE – Zimbabwe requires strong capital markets to help it achieve a middle income status by 2030, Finance ministry permanent secretary George Guvamatanga has said. This comes as research has shown that a positive link exists between the sophistication of the financial system and economic growth. “There is need to build well-functioning capital markets to…
HARARE – Zimbabwe should immediately adopt a credible local content policy buttressed by an industrial and trade policy that recognises the primacy of agriculture and mining in resuscitating the economy, a local pressure group has said. Munyaradzi Hwengwere, the Buy Zimbabwe chief executive said the sudden repeal of statutory instrument may have negative consequences. This…
HARARE – Zimbabwe’s official inflation is misleading and does not reflect the price increases of goods and services consumers are witnessing, a leading equities firm has said. The country’s annual inflation is currently pegged at 5,39, according to Zimstats, but various analysts said it has breached the double-digit figures due to rampant price increases in…
HARARE – Security Company (Securico) is celebrating its 20th anniversary having revolutionised the country’s private security industry by acquiring a Quality Management System Standard in 2005. In its short history, Securico has scored notable milestones that makes it one of the organisations with a unique success story in Zimbabwe. Securico’s story reads like a fairy…
HARARE – Deputy Agriculture minister Vangelis Haritatos has commended seed manufacturer, SeedCo, for complementing government efforts to improve food security in the country. Government has rolled out numerous programmes over the past decade in a bid to bring up the country’s agricultural production, which was significantly affected by the land reform programme at the turn…
HARARE – Governement should adopt a fair tax system for the property sector, which is currently heavily taxed, in order to increase the level of participation by individuals, a real estate expert has said. Real Estate Institute of Zimbabwe president Mike Juru said it was critical for President Emmerson Mnangagwa’s new administration to embrace a…
