Business

THE government has challenged small-and-medium enterprises (SMEs) to pay their taxes to the Zimbabwe Revenue Authority (Zimra) and other relevant entities to boost their businesses’ operations. Addressing the media in Harare yesterday at the SMEs international expo, Small and Medium Enterprises Development minister Monica Mutsvangwa commended SMEs for playing a critical role in growing the…

ONE of the country’s largest financial institutions, CBZ Bank, has appointed Masiya Passmore Marufu as substantive chairperson of its board with effect from September 1 2024. Masiya was appointed on the CBZ Bank board as an independent non-executive director on August 3 2017 and served as the interim chairman since July 1 2022. “Marufu is…

DIVERSIFIED equipment maker and distributor, Zimplow, says it is banking on the anticipated normal to above normal rainfall for the 2024/25 agriculture season to boost its agriculture-focused business units. The Victoria Falls Stock Exchange-listed group says it is geared to turn around its fortunes by year-end capitalising on the improved rainfall forecast. “Management are geared…

By Nyasha Kunyiswa kunyiswan@gmail.co.zw LEADING seed producer, SeedCo, has challenged farmers to achieve high yields through the national crop farming competition (NCFC) where growers plant the company’s climate smart seed varieties this coming 2024/25 farming season. Speaking at the launch of the competition in Harare yesterday, SeedCo managing director Felistus Gurajena said the programme would…

STANBIC Bank Zimbabwe (Stanbic) reported net interest income of ZWG374 million during the half year ended June 30, 2024, in line with the financial institution’s expectations. Stanbic chief executive Solomon Nyanhongo said this was supported by new foreign currency lending assets which were written during the period as demand for foreign currency facilities remained high….

THE People’s Own Savings Bank (POSB) says engagements on the resumption of its partial privatisation project commenced during the second quarter of 2024. The financial institution had been awaiting guidance from the Mutapa Investment Fund – its shareholders – on its partial privatisation. The state-owned financial institution is one of the entities that is earmarked…

POWERTEL, a Zesa Holdings Internet service subsidiary, has invested US$5, 5 million to improve its digital systems and bring better services to clients. This was said by Powertel acting managing director, Willard Nyagwande, recently, while updating its customers on the company’s latest connectivity products. “We have continued to invest in fibre technology, wireless technology and…

By Stella Madzivanyika madzivanyika@dailynews.co.zw LEADING financial services institution, Stanbic Bank, has posted a historical cost profit of ZiG27, 1 million for the six months ended 30 June 2024. The historical cost profit of ZiG27, 1 million was achieved after taking into account the technical losses of ZiG389 million (ZiG319 million net after tax) incurred on…

INFORMATION Communication, Technology, Postal, and Courier Services,minister Tatenda Mavetera has urged marketing professionals to integrate Information Communication Technology (ICT) into their strategies to improve customer engagement and business efficiency. Speaking at the National Exceptional Awards ceremony in Harare recently, Mavetera applauded Marketers Association of Zimbabwe for organising such a crucial event, further applauding it for…

STANBIC Bank has once again come to the rescue of people living with albinism by donating an assortment of sun protection products worth US$25 000 to the Albino Charity Organisation of Zimbabwe (ALCOZ). The leading financial services institution yesterday handed over 1 000 units of sunscreen lotion; 1 000 units of antibacterial soap; 1 000…