The Financial Gazette

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The Financial Gazette

Zimbabwe’s number one business publication
Website www.fingaz.co.zw

11/01/2025

ZIMBABWE’s new gold production record of 36,48 tonnes in 2024, up 21 percent from 30,1 tonnes the prior year, should give a major boost to the country’s local currency — the ZiG — which is backed by a basket of minerals, mainly gold, analysts say.>https://tinyurl.com/yev56cdj

11/01/2025

STIFFER competition from new entrants in the local aviation space adversely impacted Fastjet Zimbabwe’s top line, subsequently plunging it into a US$4 million loss in 2023, the company’s latest annual report shows.>https://tinyurl.com/u5prr6wa

10/01/2025

IMPROVED volume performance and cost cuts enabled sugar producing firm Star Africa Corporation (Star Africa) to return to profitability, shrugging off stiff competition from cheaper imported sugar flooding the local market, the company has said.>https://rb.gy/0jpwx4

10/01/2025

Annual Tax Review Breakfast Meeting

10/01/2025

THE restructuring at CBZ Holdings Limited which commenced last year following major acquisitions by the group is set to be concluded at the end of this month as it streamlines operations, a senior executive of the company has said.>https://tinyurl.com/469eursw

10/01/2025

DAIRY farmers in Zimbabwe produced 104,63 million litres in the first eleven months of 2024, just 11 million litres shy of the target for the year, despite a challenging operating environment. The country’s dairy industry experienced a resurgence, with August 2024 marking a record monthly high of 10,15 million litres, the highest output in seven years.>https://tinyurl.com/bdy9tsre

10/01/2025

THE European Union (EU) has reaffirmed its commitment to assisting local companies in making their renewable energy projects financially viable. In October last year, the EU allocated €75 million to Zimbabwe, aimed at mitigating the effects of climate change and promoting socioeconomic development.>https://tinyurl.com/bdh7n2vu

09/01/2025

Fostering entrepreneurial leadership for growth
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“The future belongs to leaders who can think like entrepreneurs—solving problems, creating opportunities, and driving meaningful impact.” In today’s competitive and rapidly evolving business landscape, organisations and communities alike must adapt to thrive.>https://rb.gy/2cu7rr

09/01/2025

Finding happiness in solving Zimbabwe’s problems
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“Ngoma ndiyo ndiyo,” is a common Shona expression, loosely translates to “the drum is still beating the same rhythm”. It often signifies a sense of stagnation, a feeling that things remain unchanged, often negatively. Many Zimbabweans likely entered the new year with this sentiment, anticipating little economic improvement.>https://rb.gy/synugd

09/01/2025

What’s next for Zimbabwe transfer pricing rules?
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ZIMBABWE’S transfer pricing rules are contained in sections 98A and 98B of the Income Tax Act (ITA). The rules came into force retrospectively as of January 1, 2014, because of an amendment to Act promulgated in April 2014. The Income Tax Act was further amended, effective January 1, 2016, to clarify the transfer pricing legislation and incorporate guidelines in the 35th Schedule.>https://tinyurl.com/r59spzdk

09/01/2025

Will formal retailers turn the corner in ’2025?…as informal traders cement foothold
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ZIMBABWE’s formal retail sector endured a challenging year in 2024, characterised by stiff competition from the burgeoning informal traders, working capital constraints and high cost of operating ― all threatening the viability of most businesses.>https://tinyurl.com/22u2s3uu

09/01/2025

AT least US$2,5 billion is required to increase industrial capacity utilisation to 75 percent by December 2025, a new survey shows.
According to the latest annual State of the Industry and Commerce Survey report, average industrial capacity utilisation in 2024 decreased to 56,2 percent compared to 58,5 percent in the comparable year.>https://tinyurl.com/bh4us2rm

09/01/2025

Follow the Financial Gazette WhatsApp channel on: https://whatsapp.com/channel/0029VaomJXV1yT26QEFwX13U
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THE rains that have lashed the country over the past few days have eased fears of another devastating drought, with a knock-on effect throughout the whole economy.>https://tinyurl.com/y2pufy6x

07/01/2025

ZIMBABWE fell to defeat in the second and final Test against Afghanistan on the final day at Queens Sports Club in Bulawayo yesterday, with the visitors wrapping up the match in just 15 balls to claim a 72-run win.>https://tinyurl.com/3ux4dwa2

07/01/2025

SMALL-SCALE miners are this year targeting to increase gold production and deliveries to the Fidelity Gold Refinery (FGR) to 40 tonnes from a record 36.48 tonnes produced last year.>https://tinyurl.com/2uhrz7bh

05/01/2025

United Airlines said on Sunday it expects to begin testing Elon Musk’s Starlink in February for in-flight internet services, and to first offer the connectivity on a commercial flight operated by Embraer E-175 aircraft this spring.>https://tinyurl.com/43stctuy

05/01/2025

POWERSPEED Electrical says it is investing in a timber processing plant in Mutare that is set to facilitate the production of a variety of products for its newly established division, Electrosales Timber.>https://tinyurl.com/56n9x74e

05/01/2025

THE Civil Aviation Authority of Zimbabwe (CAAZ) is intensifying efforts to address compliance issues that have hindered the authority, particularly in relation to its financial reporting. CAAZ has not published any financial statements since 2021.>https://tinyurl.com/448mvdfr

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KEY stakeholders in Bulawayo will have the opportunity to rub shoulders with the minister of Finance, Mthuli Ncube, early on Monday morning.>https://tinyurl.com/mwhzk6yz

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WOMENS UNIVERSITY IN AFRICA 20th GRADUATION CEREMONY

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