Browsing: Business

Business
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Retailers defy VAT directive

Enacy Mapakame, Business Reporter Some businesses across the country are yet to comply with Government’s directive to reduce value added tax (VAT) to 14,5 percent. Last year, Treasury ordered the reduction of VAT by 0,5 percent, but receipts from some retail outlets show the tax is still pegged at 15 percent. Confederation of Zimbabwe Retailers […]

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Govt mulls Telecel debt equity swap

TELECEL International (TI), a State-owned vehicle which owns 60 percent of Telecel Zimbabwe (TZ), is considering converting the US$90 million debt owed by the mobile network operator into equity, a move likely to close the chapter on historical squabbles among shareholders.

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Mthuli sticks to his guns

Finance and Economic Development Minister Professor Mthuli Ncube has stuck to his guns, maintaining that the country is going to achieve 3 percent economic growth for 2020 in the face of independent figures claiming the economy could contract by as much as 13 percent.

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Competition hits PPC cash flows

PERSISTENT macro-economic risks and intense competition across regional cement producer Pretoria Portland Cement (PPC)’s business units have affected the firm’s return on

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Mthuli promises Airzim wings

Ndakaziva Majaka ZIMBABWE’S flag carrier, Air Zimbabwe (Airzim), will be in the skies before end of year in a measure targeted at boosting the country’s tourism, Finance minister Mthuli Ncube has said. The struggling airline – which completed adjudication of bids submitted by three investors that have expressed interest in acquiring its shares last month […]

Business
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Inflation slows down

Business Reporter Zimbabwe’s month on month inflation dropped to 16,55 percent in December after shedding 0,91 percentage points from the previous month, according to data from the Zimbabwe National Statistical Office released yesterday. Although the figure is the lowest level reached since May 2019, it still missed the Reserve Bank of Zimbabwe target of 10 […]

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JSE advances despite weak confidence data

Musa Makoni The JSE advanced on Tuesday primarily on the back of gains in the financials and industrials indices. On the global markets, attention shifted to major US banks, which released their earnings results for the 4th quarter of 2019. JP Morgan stood out as it widely beat most analyst estimates after it reported a […]

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Focus areas for Central African bankers

Central bankers in sub-Saharan Africa are likely to focus more on domestic factors than global developments when they decide on interest rates in the next two weeks. Most will likely opt to pause. Since the monetary policy committees of some of the region’s key economies last met, data showed that South Africa’s economy contracted in […]

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