‘Zimra strategic to fiscal reforms’

Business Reporter The Zimbabwe Revenue Authority (Zimra) is a strategic entity to Zimbabwe’s attainment of Vision 2030 and must lead development and implementation of innovative domestic resource mobilisation strategies that will help transform the country into an upper and middle-income economy, Permanent Secretary for Finance and Economic Development George Guvamatanga …

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Local firm to float bond for municipal projects

LOCAL financial firm Lloyd Corporate Capital (Private) Limited intends to float a bond with a three-year tenure to finance infrastructure projects for local authorities. BY MTHANDAZO NYONI The company’s managing director Bekithemba Nkomo told delegates attending the Local Government Investment Conference held in Bulawayo last week that the bond would …

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Farmers want tobacco levy scrapped

FARMERS have made fresh calls for the scrapping of the tobacco levy going into the next season, as $23 million collected under the fund since 2015 has not been disbursed to serve its purpose. BY FIDELITY MHLANGA In January 2015, government introduced an afforestation levy on all tobacco farmers at …

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Govt sets up $100m gold sector fund

Africa Moyo Senior Business Reporter Government plans to establish a $100 million gold sector venture fund as it seeks to boost output and build reserves. The fund is designed to assist miners to re-tool so they ramp up production. This was said by Finance and Economic Development Minister Professor Mthuli …

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‘New procurement law encourages transparency’

Below is a conversation between the Procurement Regulatory Authority of Zimbabwe (PRAZ) chief executive Nyasha Chizu (NC) and NewsDay (ND) in which he outlines how he is enforcing a new way of public procurement in ministries, parastatals, local authorities, commissions and other government agencies. THE INTERVIEW: NewsDay ND: A lot …

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Flirting with populism?

SA Reserve Bank Governor Lesetja Kganyago has warned leaders that a wave of populism sweeping a number of global economies was a sign that leaders should be more responsible and accountable. Speaking at the Association of Black Securities and Investment Professionals conference in Johannesburg on Friday morning, the central bank …

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Budget deficit seen topping $3 billion

The Parliament Budget Office (PBO) says the budget deficit could reach a “record breaking” $3 billion this year as Finance and Economic Development minister Mthuli Ncube says he will soon announce cost-containment measures to lower State expenditure. BY TATIRA ZWINOIRA The PBO says rising expenditure has been skewed towards recurrent …

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‘Zim to clear WB, IMF debt in 12 months’

ZIMBABWE plans to clear its arrears with the African Development Bank (AfDB) and World Bank in the next 12 months, with support from an unnamed creditor country, Finance minister Mthuli Ncube has said. By Alfonce Mbizwo The southern African country has been frozen out of international debt markets since the …

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Zimra beats Q3 revenue target

Zimbabwe’s gross revenue collections in the third quarter ended September amounted to $1,28 billion, surpassing the target of $1,089bn by nearly 18%, the tax agency said yesterday. BY TATIRA ZWINOIRA The Zimbabwe Revenue Authority (Zimra)’s net revenue at $1,19 billion was 22,56% higher than the $967,76 million realised during the …

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