Call for legislated budget deficit limits

THE Zimbabwe Coalition on Debt and Development (Zimcodd) has called for legislated fiscal rules, which would impose limits on budget deficits to enhance fiscal transparency and restrain further growth in unsustainable sovereign debt. BY MTHANDAZO NYONI The organisation, which fights for economic and social justice, has also urged government to …

Read More »

Archer Clothing reports drop in orders

BULAWAYO textile giant, Archer Clothing Manufacturers, says it is struggling to process orders owing to a shortage of foreign currency for importation of inputs, machinery and equipment. BY MTHANDAZO NYONI Jeremy Youmans The company escaped liquidation in 2015 after creditors approved its takeover by Harare-based Paramount Garments, but never regained …

Read More »

Simbisa’s profits surge 139% in FY2018

SIMBISA Brands Limited (Simbisa), a public-listed company that owns, operates, and franchises quick service restaurants in Africa, has reported a more than double growth in net income in the full-year period to June 30, 2018, driven by “higher revenue streams and improved operating efficiencies”. BY FIDELITY MHLANGA Addington Chinake In …

Read More »

Mohadi meets industry leaders

Martin Kadzere in Bulawayo ACTING President Kembo Mohadi will get full appreciation of issues besetting local industry when he meets industrial leaders during their annual congress underway in Bulawayo seeking to come up with interventions to rejuvenate one of the key sectors expected to drive economic recovery and growth in …

Read More »

RioZim loses court case

Kuda Mhundwa Diversified mining group, RioZim Ltd’s latest attempt to have the loan it obtained from Trust Bank reduced to $500 000 from $1,8 million suffered another setback after the High Court of Zimbabwe dismissed the latest appeal. A similar application last year was dismissed after the mining concern failed …

Read More »

Local firms to engage mining, council bosses

Africa Moyo Senior Business Reporter LOCAL firms that have  previously complained at being sidelined by mining houses and municipalities, have an opportunity to engage top management of the institutions and thrash potential business deals during the Tour de Great Dyke scheduled for next Tuesday, organisers say. Tour de Great Dyke, which is …

Read More »

Simbisa consolidates regional hold

Enacy Mapakame Quick service restaurant (QSR) group, Simbisa Brands Limited has stepped up a gear in consolidating within the regional markets, with acquisitions of additional interests in Zambia, Ghana and Mauritius. Customer count has hit a record high in the firm’s three-decade trading history. During the year to June 30, …

Read More »

Are you serious about corporate governance?

If investors and the transaction advisors who advise them have learnt anything from Enron and other companies closer to home whose problems came to light during the past few years, it’s that the quality of corporate governance and the effectiveness of the board of directors are critical to an organisation’s …

Read More »

Voluntary disclosure: Payment of withholding taxes

The Income Tax Act [Chapter 23.06] requires payers of certain amounts to withhold taxes on making the payments to the payees. These taxes withheld are usually referred to as Withholding Taxes. It is therefore, important for every payer of an amount to ensure that the correct withholding tax is collected …

Read More »

A clean environment is possible

Creating a clean, safe and healthy environment is possible, especially if all stakeholders come on board and play their part towards this worthy cause. A clean environment has high aesthetic value, provides various environmental benefits and is free from diseases. Such an environment is achievable through concerted effort. Who can …

Read More »