HARARE – The Zimbabwe Revenue Authority (Zimra) is proposing a tough mining regime for miners to ensure that the country gets more taxes. Zimra’s chairperson Willia Bonyongwe last week said Zimbabwe, like all developing countries, needs to find a more equitable tax regime for the mining sector. “There is need for more transparency and verification…
HARARE – The Zimbabwean government has been warned against excessive use of Treasury Bills (TBs), which could collapse the local banking system as the government-backed paper is not backed by any physical assets. A TB is a short-term debt obligation backed by a government with a given maturity, in most countries the promissory notes are…
HARARE – Gold deliveries to Fidelity Printers have hit 12,09 tonnes mark in the first seven months of the year, with deliveries by small-scale miners increasing 7,8 percent to 1 127,5 kg in July from 1 045,9kg recorded in June, Parliament Budget Office figures show. Gold production target for 2017 is 25 tonnes and will…
HARARE – Banking sector capitalisation increased to $1,24 billion by end of June 2017 from $1,22 billion recorded in the first quarter. Parliament’s Budget Office (PBO) said all the banking institutions were adequately capitalised and complied with minimum capital requirements. CBZ managed to hit $238,90 million core capital by June 30, 2017 from $237,58 million…
HARARE – Zimbabwe’s annual inflation gained 0,64 percent in September to 0,78 percent from 0,14 percent as prices went up during the month under review, official data shows. Zimstat yesterday said prices as measured by the all items Consumer Price Index (CPI) increased by an average of 0,78 percentage points between September 2016 and September…
HARARE – Three major solar projects are hanging in the balance on the back of acute funding challenges, a junior minister said. Energy deputy minister Tsitsi Muzenda last week told the Senate that the $202 million Gwanda Solar Project, Munyati and Bulawayo-located Insunkamini project were all in need of funding for them to take off…
HARARE – British lender Barclays Plc on Thursday sealed disposal of its local unit to Malawi’s FMB Capital Holdings (FMBCH). Barclays Bank of Zimbabwe (BBZ) said completion of this transaction follows compliance with all statutory and regulatory requirements. The move resulted in FMBCH acquiring a 42 percent shareholding in BBZ with Barclays Plc retaining a…
HARARE – The Zimbabwe Stock Exchange rebound is expected to continue throughout October after total volumes traded in September went up 127,81 percent to 264,09 million. In its report for the month of September, equities firm IH Securities (IH) said the relentless bull run was a direct result of a lack of alternative investment classes…
HARARE – Tetrad Holdings (Tetrad)’s bid to reclaim 10 immovable properties sold by public auction to recover more than $5 million owed to National Social Security Authority (Nssa) has flopped after the Supreme Court struck the matter off the roll yesterday. The bank, which was placed under provisional liquidation in 2015, has over the past…
ZIMBABWEANS had to wait a little longer to start enjoying Kwesé services but the wait is proving to be worth it as the company has met and continues to exceed expectations, adding some sweeteners to the whole deal in a bid attract more customers everyday. Recently the Econet Founder, Strive Masiyiwa announced on his Facebook…
