President Mugabe recently said Government will amend the Indigenisation and Economic Empowerment Act to bring it in line with a policy clarification he issued in April this year.
Zimbabwean companies, ZB Financial Holdings (including its banking subsidiaries) and the Industrial Development Corporation (and subsidiaries Chemplex Corporation and Zimbabwe Fertiliser Company) have been removed from the United States’ sanctions list.
Government yesterday dismissed reports that the country is running out of fuel and will soon dry up. Energy and Power Development permanent secretary Patson Mbiriri said the country had adequate fuel supplies to meet local demand.
ELECTRICITY consumption has fallen by 27 percent since 2012 when the Zimbabwe Electricity Supply Authority introduced pre-paid meters. The parastatal is also pocketing $4 million per month from outstanding debts. Zesa spokesperson, Mr Fullard Gwasira confirmed the development in a recent interview with The Herald.
Pay As You Earn (PAYE) is a method of paying Income Tax on remuneration. The employer deducts tax from salaries or pension earnings before paying the employee the net salary or pension. The Final Deduction System (FDS) ensures that the amount withheld in any year of assessment is as nearly the same as the Income Tax […]
Business Correspondent AFRICAN Distillers Limited, Zimbabwe’s largest spirits, ciders and wine manufacturing company is confident about the future of its low end standard whiskies against similar imported whiskies. Afdis eastern region manager, Mr Martin Nyaundi, said this on the sidelines of last Saturday’s third and final draw of the Afdis Gold Blend ‘Think out of the […]
Kudzanai Gerede: Business Correspondent Manicaland province emerged with the highest number of operating business establishments (5 895) in the country, a feat that has reaffirmed its status as a leading economic hub with potential to steer the country’s economic recovery path, latest official figures have shown.
Kudzanai Gerede Business Correspondent Ever since Government undertook its decision to take over the diamond mining operations in Marange through the consolidation of the mining companies earlier this
Figures from the latest mid-term monetary policy statement show the rand continues to cause havoc in the Zimbabwe’s economy.