Category: Finance and Economics (archives)

RBZ to introduce bond notes; to convert half of US dollar receipts to rand and euros 0 Top Stories May 5, 2016By Staff Reporter The notes to be backed by US$200 million Afreximbank Nostro-support facility IN an effort to ease the current shortages on cash, the Reserve Bank of Zimbabwe will introduce bond notes, convert part …

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Bank lending rates to decline to 15pc . . . $200m Afreximbank facility an export stimulant May 6, 2016 Business Business ReporterThe Reserve Bank of Zimbabwe will introduce non-negotiable certificates of deposit to re-direct idle funds to productive sectors of the economy. This comes after the apex bank noted decreasing lending activities by banks, resulting in …

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Bond notes: Key questions answered May 6, 2016 Opinion & Analysis HARARE – The Reserve Bank of Zimbabwe has announced plans to introduce local “bond notes” to circulate alongside a basket of foreign currencies adopted in 2009, in a bid to ease widespread cash shortages stalking its sluggish economy. This has raised fears of the recurrance …

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RBZ to unveil ‘bond notes’ …-New withdrawal limits set, rand returns -Cash squeeze forces RBZ into action May 5, 2016 Headlines, Top Stories RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya Happiness Zengeni and Martin Kadzere Harare Bureau—THE Reserve Bank of Zimbabwe is set to introduce bond notes to curb money flowing out of the country while a …

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Delta puts $4mln into sorghum contract farming April 29, 2016 Business DELTA Beverages injected more than $4 million into its Beverages Sorghum Contract Farming Scheme (BSCFS) during the 2015/6 financial year and received about 15,675 tonnes of the grain, an official has said. Delta requires 15,000 tonnes of sorghum annually and sources it locally through contract …

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EU, FAO sign 650,000 Euro project for Zimbabwean livestock April 21, 2016 Business The European Union and the Food and Agriculture Organisation of the United Nations (FAO) have signed a new agreement aimed at improving food and livelihoods security and resilience of smallholder livestock farmers in Zimbabwe. This agreement comes at a time when crop and …

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Spare a thought for CSC April 21, 2016 Business Cold Storage Company Bulawayo branch Prosper Ndlovu, Business EditorZIMBABWE is in dire need of investment to boost economic growth and create more job opportunities for its graduates and hundreds of its unemployed people. It is within this context that capacitating strategic enterprises with a downstream effect on …

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‘Africa spends $15bn on wheat imports’ April 20, 2016 Local News Dr Assefa Elita Chikwati and Brenda ZigaAfrica spends $15 billion every year to import wheat as its countries cannot produce enough to meet domestic requirements, experts attending the on-going four day Support to Agricultural Research for Development of Strategic Crops (SARD-CS) wheat annual review and …

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Benefits of Tax Compliance April 14, 2016 Business Did you know that you can avoid unnecessary penalties and interest by following basic tax and duty compliance requirements? Statutory Requirements for Corporate Income Tax Income Tax is tax levied on the profits of a business at 25% plus 3% Aids Levy. This tax is paid every quarter based on projected …

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Fertiliser sales decline April 8, 2016 Business Business Reporter Zimbabwe continues to experience a huge trade deficit due to the poor performance of exports exacerbated by a huge import bill, which is mostly consumptive. Exports in 2015 were $2,7 billion, representing a 13 percent decline from the year 2014, which was $3 billion. This is a worrisome …

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