Category: Finance and Economics (archives)

Old Mutual commits $500 million to agricultural investment May 27, 2016 Business Bianca Mlilo, Business ReporterOLD Mutual Investment Group has announced a deal to increase its overall effective equity stake in African agriculture investment group, UFF African Agri Investments, to 49 percent. The partnership will see the strengthening of a long-time relationship between the two companies, …

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Banks should create innovative products for smallholder farmers May 26, 2016 Business Golden Sibanda : Senior Business Reporter BANKS should come up with innovative and creative products suitable for smallholder farmers to access the $37 million funding facility that has been earmarked for agriculture, the Zimbabwe Agricultural Development Trust said. ZADT chief executive Mr Godfrey Chinoera said banks …

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RBZ holds 80 percent of all tobacco receipts May 26, 2016 Business The Reserve Bank of Zimbabwe (RBZ) will now hold 80 percent of all tobacco receipts for distribution to other banks while the receiving bank shall retain 20 percent. This follows cash problems at the tobacco auction floors where farmers are failing to access their …

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Treasury releases $4.5 million to GMB May 20, 2016 Business Bianca Mlilo, Business ReporterTREASURY has released $4,5 million to the Grain Marketing Board to pay farmers harvesting this season’s maize crop, the Minister of Agriculture, Mechanisation and Irrigation Development, Joseph Made, has said. Responding to a question without notice in parliament, Made said although maize harvesting …

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Cash crisis: The government’s hidden hand   By Own Correspondent The central bank’s own schedule showed the growth of its TB securities held by commercial banks from $325,7 million in January last year to $1,126 billion in February this year. ZIMBABWE’S cash crisis has led to questions about the government’s management of the country’s financial systems, …

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Special Excise Duty on change of ownership of second-hand motor vehicles May 19, 2016 Business What is Special Excise Duty?Special Excise Duty (SED) is charged in terms of Section 172 of the Customs and Excise Act [Chapter 23:02]). It is a tax levied on sale, transfer or disposal of second-hand motor vehicles on change of ownership. …

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Why producers should always get a clear view of the competitive landscape? May 18, 2016 in Business, Columnists, Opinion & Editorials While African countries seem to be encouraging their farmers to produce for export to developed countries, those countries are looking at African countries as their customers. Competition has become so real that it is very easy to find …

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Invoice Management Systems (IMS): An upgrade on fiscalisation May 12, 2016 Business Electronic signature device What is Invoice Management System?Invoice Management System (IMS) is an electronic invoice based tax management system used to monitor sales transactions done by clients using fiscal devices. Clients are required to be registered under IMS and they will be issued with …

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Bank partners tobacco farmers in $2m irrigation deal May 11, 2016 in Business TOBACCO farmers will get over $2 million for irrigation and working capital from Agribank in a major boost for production of the golden leaf. BY VICTORIA MTOMBA In an interview yesterday, Agribank chief executive officer Sam Malaba said the bank would support farmers through …

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