Companies Act to be overhauled

PARLIAMENT has gazetted the Companies and Other Business Entities Bill, 2018, which will, among other issues, update the archaic 67-year-old Companies Act which was legislated way back in 1951. BY VENERANDA LANGA The Bill, if passed, will improve corporate governance practices in the private sector, and regulate how directors interact …

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Exhibitors at Mine Entra clinch ‘lucrative’ deals

THE majority of exhibitors who took part at the mining, engineering and transport exhibition (Mine Entra) managed to seal “lucrative” deals, the Zimbabwe International Trade Fair (ZITF) Company has revealed. BY MTHANDAZO NYONI Running under the theme Mineral Beneficiation: Catalyst for Economic Growth, the fair attracted a total of 251 …

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Inflation hits post-dollarisation high

THE year-on-year inflation rate stood at 5,39 % in September, the highest since dollarisation, latest data from the Zimbabwe National Statistical Agency (ZimStat) shows. BY FIDELITY MHLANGA This is the highest figure since the country abandoned its own currency and adopted a multicurrency basket anchored on the United States dollar …

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Listed property firms gain ground

Enacy Mapakame Property Reporter Zimbabwe Stock Exchange (ZSE) listed property firms last week recovered from losses they incurred in the first half of the year with gains sustained by increased demand experienced across the bourse. All the four listed property concerns except for Dawn, recorded significant gains last week. There …

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Cement sector has excess capacity: Lafarge

Bulawayo Bureau Zimbabwe cement industry has excess capacity to meet the 1,3 million tonnes annual domestic demand as the sector has an installed capacity of 2,4 million tonnes, an official has revealed. Last month the market experienced cement shortage, which the country’s largest cement producer, PPC Zimbabwe, attributed to annual …

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Electric cars cast growing shadow on profits

PARIS. – Electric cars are poised to arrive en masse in European showrooms after years of hyped concept-car launches and billions in investment by automakers and suppliers. Battery models making their car-show debut in Paris this week, from PSA Group’s (PEUP.PA) electric DS3 Crossback to the Mercedes (DAIGn.DE) EQC, will …

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Contractors urge Govt to engage locals

Patrick Chitumba Midlands Bureau Chief The Zimbabwe Building Contractors Association (ZBCA) has called on Government to engage local contractors in major construction projects to curb the “export” of foreign currency as the investors repatriate their profits. In an interview on the sidelines of the ZBCA Midlands region business dinner held …

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Inconsistent policies draining Zim business confidence: Hanke

Renowned American economist, Steve Hanke says Zimbabwe’s new fiscal and monetary measures have left the market in a state of confusion, and opined that the country’s annual inflation rate had topped 200%. BY TATIRA ZWINOIRA Finance minister Mthuli Ncube on October 1 raised tax on electronic transactions to 2% from …

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Inconsistent policies draining Zim business confidence: Hanke

Renowned American economist, Steve Hanke says Zimbabwe’s new fiscal and monetary measures have left the market in a state of confusion, and opined that the country’s annual inflation rate had topped 200%. BY TATIRA ZWINOIRA Finance minister Mthuli Ncube on October 1 raised tax on electronic transactions to 2% from …

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First Capital Bank to focus on growing lending book

First Capital Bank Limited Zimbabwe will focus on aggressive lending going forward to grow its net interest income, its managing director Samuel Matsekete has said. BY TATIRA ZWINOIRA On Tuesday, the bank started operating under its dual brand name, First Capital Bank Limited in association with Barclays, to reflect the …

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