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Counterfeit goods hurt business: Mapwashike

Zimbabwe has become a haven of counterfeit and smuggled goods despite efforts to curb this illicit trade, an anti-counterfeit watchdog has said. In a statement to mark World Counterfeit Day today, Mrs Betty Mapwashike, the executive director of the watchdog, said the market continues to thrive across all sectors of …

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Application of Act

One of the inadequacies that was often cited in connection with the repealed Procurement Act [Cap 22:14] was its limited application with regards to certain procurement process. In order to redress such weaknesses, the Public Procurement and Disposal of Public Assets Cap 22:23 Act’s section three (3) provides for application …

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SA rand weakens

JOHANNESBURG. — South Africa’s rand continued to weaken against the dollar yesterday, a day after local data showed the economy suffered its worst quarterly contraction in a decade at the start of 2019. The rand is also reeling from news that South Africa’s ruling party is arguing over whether to …

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Treatment of remuneration for employees’ tax

Every employer who pays or grants any remuneration to an employee is required to deduct Employees Tax (PAYE) and remit it to the Zimbabwe Revenue Authority within the periods given in terms of Section 73 as read with the Thirteenth Schedule of the Income Tax Act. What constitutes remuneration for …

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Gold jumps

Gold rallied yesterday with the prospect of an interest-rate reduction by the Federal Reserve, amid signs of economic weakness in the US, lifting the metal’s price to its highest in 3 ½ months. Futures prices touched highs near $1,349 an ounce after a report early yesterday on private-sector employment for …

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Teenage pilot breaks local aviation record

A 19-year-old Bindura-born flying sensation has become the youngest pilot in the country after passing his aviation studies with flying colours. Mr Simbarashe Machigere was awarded a commercial pilot licence on May 5, 2019, by the East African Aviation School based in Addis Ababa, Ethiopia. Before him, the youngest pilot …

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Econet most popular telecom service provider: Survey

Zimbabwe’s leading mobile network provider, Econet Wireless Zimbabwe, has emerged as the most popular telecom service provider, according to an industry survey for the year 2018. Econet, which is also listed on the Zimbabwe Stock Exchange where it is one of the most sort-after stock, topped the industry with 89 …

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Zim hosts Sadc finance indaba

MORE than 25 development finance institutions from the Sadc region are meeting in Victoria Falls to deliberate on how best future capital projects can embrace environment friendly practices. The meeting comes on the background of climate change induced disasters such as cyclones that have characterised the region recently. The finance …

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Industry happy with forex facility

THE manufacturing sector has started benefiting from the US$500 million facility recently secured by Government to stabilise the foreign exchange market, newly elected Confederation of Zimbabwe Industries (CZI) president Mr Henry Ruzvidzo, said yesterday. He told our Bulawayo Bureau that the seed capital availed by the Reserve Bank of Zimbabwe …

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Govt signs US$100m agric deal

Government has signed contracts with Belarus and John Deere for the supply of agriculture mechanisation equipment worth US$100 million, as it moves to close Zimbabwe’s mechanisation gap that is estimated to be falling short of about 543 000 agricultural implements. This comes as farmers have blamed subdued levels of agricultural …

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