‘75 pc of products in shops locally manufactured’

Livingstone Marufu Business Reporter Industry, Commerce and Enterprise Development Minister, Dr Mike Bimha, has said over 75 percent of goods in retail shops and wholesalers are now locally manufactured following a cocktail of measures Government put in place to promote local industry. He made the remarks at the opening of …

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Actuaries can stabilise Zim’s financial sector, IPEC

Munashe Matambo Business Reporter An increased number of actuarial professions practicing in the country can help stabilise the financial sector, the Insurance and Pensions Commission acting Commissioner Blessmore Kazengura has said. Speaking during the fourth actuarial convention of the Actuarial Society of Zimbabwe (ASZ) in Harare yesterday, Comm Kazengura said …

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ED mulls tax incentives to lure investors

Ishemunyoro Chingwere Business Reporter PRESIDENT Mnangagwa has implored Finance and Economic Planning Minister Patrick Chinamasa to consider tax incentives and tax holidays for foreign investors to encourage investment and grow the domestic economy. The President said this on Wednesday while officiating at the commissioning of a $30 million Varun Beverages …

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Zimra completes Asycuda upgrade

THE Zimbabwe Revenue Authority (Zimra) has completed the upgrade of its Automated Systems for Customs Data (Asycuda) to ensure normalcy to the e-services, as it steps up efforts to improve efficiency. BY FREEMAN MAKOPA The Asycuda system enables pre-clearance of goods, which entails that importers can clear their goods before …

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PepsiCo mulls Zim snack plant

AMERICAN conglomerate PepsiCo is looking at Zimbabwe among three other countries in the region to set up a snack plant. BY TATIRA ZWINOIRA Speaking to NewsDay after the launch of the Pepsi plant under Varun Beverages Zimbabwe Private Limited in Harare on Wednesday, PepsiCo sub-Sahara African GM vice-president Sarah-Anne Orphanides …

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RTG banks on elections

THE Rainbow Tourism Group (RTG) is banking on next month’s general elections to boost its revenues further after posting a 16% increase in revenue to $11,1 million in the first five months of the year. BY TATIRA ZWINOIRA In a statement accompanying its trading update for the first five months …

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Tourism pushes for VAT review

The tourism sector is optimistic it has the ammunition to force government review the 15% value added tax (VAT) on foreign accommodation which the sector blames for making Zimbabwe uncompetitive as a tourism destination. BY NDAMU SANDU VAT on foreign accommodation was introduced in 2015 despite concerns by the sector …

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Cost of money unsustainable: Ndhlukula

THE Zimbabwe National Chamber of Commerce (ZNCC) will hold its 2018 annual congress in Victoria Falls from June 27 to 29, 2018 under the theme Enterprise Development, Corporate Entrepreneurship and Sustainable Growth. NewsDay (ND)business reporter, Mthandazo Nyoni, speaks to ZNCC president, Divine Ndhlukula (DN) over the congress’ main thrust, among other issues. Below …

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Mangudya calls for capital projects investment

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said Zimbabwe is spending more resources on consumption instead of capital projects. BY TAFADZWA MUTACHA Speaking at the launch of the Homelink’s housing project in Bindura on Wednesday, Mangudya said investment in capital projects stimulate development. “When we spend more money …

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Tough times for leather sector

ZIMBABWE’S leather industry is currently producing 1,8 million pairs of shoes per year, down 90% compared to what it used to produce during its heyday, an official has revealed. MTHANDAZO NYONI Giving his presentation during the Bulawayo special economic zones breakfast meeting organised by Alpha Media Holdings and Bulawayo City …

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