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265,210 görüntüleme

BUDGET: How Mthuli plans to boost private investment in sports facilities Govt wants companies to help rebuild the country’s rundown sports infrastructure. So, Finance Minister Ncube is offering new tax incentives: • Tax deductions: Companies that build or upgrade public sports facilities can claim 150% of their investment as a tax deduction over two years. If a company spends US$1M fixing a stadium, it can deduct US$1.5M from its taxable income over two years. • Duty-free imports: Specialised equipment for stadiums, such as turfs, seats, lighting, scoreboards, will come in duty-free. • Tax credits for youth sport: Companies that fund rural sports academies or SRC-registered youth programmes get a US$10,000 tax credit.

BUDGET: How Mthuli plans to boost private investment in sports facilities Govt wants companies to help rebuild the country’s rundown sports infrastructure. So, Finance Minister Ncube is offering new tax incentives: • Tax deductions: Companies that build or upgrade public sports facilities can claim 150% of their investment as a tax deduction over two years. If a company spends US$1M fixing a stadium, it can deduct US$1.5M from its taxable income over two years. • Duty-free imports: Specialised equipment for stadiums, such as turfs, seats, lighting, scoreboards, will come in duty-free. • Tax credits for youth sport: Companies that fund rural sports academies or SRC-registered youth programmes get a US$10,000 tax credit.

40,695 görüntüleme

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Work kicking off at Bulawayo’s Fairgrounds, a new shopping complex being developed by Terrace Africa for the Tigere Property Fund. It’s due to be completed in 2027. Tigere is a ZSE-listed real estate investment trust (REIT) that currently holds Highland Park, Chinamano Corner, Greenfields and Zimre Park Drive-Thru. Four more properties are being added to the Tigere portfolio this year, including Cardinals Corner and the Design Quarter at the Highland Park Precinct. Tigere is targeting rapid growth in net asset value (NAV), the total value of a property portfolio after taking out liabilities. Tigere wants to grow NAV from US$60 million last year to US$100 million this year, and US$200 million by end of 2028. [🎥 Mandebvu Contracting]

Work kicking off at Bulawayo’s Fairgrounds, a new shopping complex being developed by Terrace Africa for the Tigere Property Fund. It’s due to be completed in 2027. Tigere is a ZSE-listed real estate investment trust (REIT) that currently holds Highland Park, Chinamano Corner, Greenfields and Zimre Park Drive-Thru. Four more properties are being added to the Tigere portfolio this year, including Cardinals Corner and the Design Quarter at the Highland Park Precinct. Tigere is targeting rapid growth in net asset value (NAV), the total value of a property portfolio after taking out liabilities. Tigere wants to grow NAV from US$60 million last year to US$100 million this year, and US$200 million by end of 2028. [🎥 Mandebvu Contracting]

50,348 görüntüleme • 19 gün önce

“We’ve run out of capacity…” Delta Beverages is struggling to keep up with record demand for beer and soft drinks. In response, Delta is investing another US$120M into expansion. This adds to the US$44M invested over the past year. ~CEO Matlhogonolo Valela

“We’ve run out of capacity…” Delta Beverages is struggling to keep up with record demand for beer and soft drinks. In response, Delta is investing another US$120M into expansion. This adds to the US$44M invested over the past year. ~CEO Matlhogonolo Valela

89,266 görüntüleme • 1 ay önce

“In cement, you can’t just think for the next 2-3 years, you need to think for the next 20 years…” 🎥 PPC Africa CEO Matias Cardarelli speaks today on why the company wants to build a new plant in Zimbabwe. Zimbabwe is an increasingly important market for PPC, with rising cement demand helping offset slower growth in SA and Botswana. In the year to March, PPC Zimbabwe’s sales volumes rose 18%. Volumes were up 25% in the first half. Growth was 12% in the second half, after a gearbox breakdown at the Bulawayo plant slowed sales in the region for two months. Revenue rose 20.5% to US$206 million, and earnings hit a record US$56 million. PPC received US$36 million in dividends from Zimbabwe, up from US$13 million in the previous year, “another record for PPC Zimbabwe.”

“In cement, you can’t just think for the next 2-3 years, you need to think for the next 20 years…” 🎥 PPC Africa CEO Matias Cardarelli speaks today on why the company wants to build a new plant in Zimbabwe. Zimbabwe is an increasingly important market for PPC, with rising cement demand helping offset slower growth in SA and Botswana. In the year to March, PPC Zimbabwe’s sales volumes rose 18%. Volumes were up 25% in the first half. Growth was 12% in the second half, after a gearbox breakdown at the Bulawayo plant slowed sales in the region for two months. Revenue rose 20.5% to US$206 million, and earnings hit a record US$56 million. PPC received US$36 million in dividends from Zimbabwe, up from US$13 million in the previous year, “another record for PPC Zimbabwe.”

39,149 görüntüleme • 20 gün önce

“As a corporate, why would you want to withdraw US$5,000 in cash…” Finance Minister Mthuli Ncube and Treasury Permanent Secretary George Guvamatanga defend their new levy on cash withdrawals, despite criticism that it raises costs and undermines efforts to formalise the economy

“As a corporate, why would you want to withdraw US$5,000 in cash…” Finance Minister Mthuli Ncube and Treasury Permanent Secretary George Guvamatanga defend their new levy on cash withdrawals, despite criticism that it raises costs and undermines efforts to formalise the economy

275,802 görüntüleme • 6 ay önce

In a canteen back in the 1980s, three employees at drug giant Pfizer decided to break away to start what became Zimbabwe’s first privately held black pharmaceutical firm. Tobias Dzangare, Celestine Gadzikwa and Glory Zata founded Varichem in 1985. Its first product, Prazosin, launched in 1988. But they faced resistance. “Most wholesalers and pharmacists were not interested in our product because of prejudice from our former employer.” Today, Varichem Pharmaceuticals is one of Zimbabwe’s biggest manufacturers and exporters of medicines.

In a canteen back in the 1980s, three employees at drug giant Pfizer decided to break away to start what became Zimbabwe’s first privately held black pharmaceutical firm. Tobias Dzangare, Celestine Gadzikwa and Glory Zata founded Varichem in 1985. Its first product, Prazosin, launched in 1988. But they faced resistance. “Most wholesalers and pharmacists were not interested in our product because of prejudice from our former employer.” Today, Varichem Pharmaceuticals is one of Zimbabwe’s biggest manufacturers and exporters of medicines.

53,544 görüntüleme • 1 ay önce

🔔PROFILE FRIDAY: This business started on a small veranda, making 8kg per day. Today, after installing new equipment, it has expanded capacity to 1,500kg per hour, over 30 tons per day. The company makes 25 products, with 16 on the way! Meet lesly of Glytime

306,448 görüntüleme • 8 ay önce

Skills crisis: Zimbabwe has only one forensic pathologist, and has had to bring in three from Cuba. Health Minister Douglas Mombeshora said this in response to MP Lynette Karenyi-Kore, who asked why such services are only offered in Harare. Mombeshora says govt plans to train more forensic pathologists, which takes 4 years, and pay specialists better.

Skills crisis: Zimbabwe has only one forensic pathologist, and has had to bring in three from Cuba. Health Minister Douglas Mombeshora said this in response to MP Lynette Karenyi-Kore, who asked why such services are only offered in Harare. Mombeshora says govt plans to train more forensic pathologists, which takes 4 years, and pay specialists better.

249,764 görüntüleme • 8 ay önce

Mines Minister Polite Kambamura says Government plans incentives to attract coal investment and will withdraw licences from companies that delay developing their mining assets. Earlier this year, Government cancelled RioZim Energy’s licence over the Sengwa coal deposit, citing lack of development. RioZim’s planned 2,800MW power project stalled after Industrial and Commercial Bank of China withdrew funding in 2021 as China cut support for new overseas coal projects. [🎥 Mining Zimbabwe]

Mines Minister Polite Kambamura says Government plans incentives to attract coal investment and will withdraw licences from companies that delay developing their mining assets. Earlier this year, Government cancelled RioZim Energy’s licence over the Sengwa coal deposit, citing lack of development. RioZim’s planned 2,800MW power project stalled after Industrial and Commercial Bank of China withdrew funding in 2021 as China cut support for new overseas coal projects. [🎥 Mining Zimbabwe]

10,826 görüntüleme • 8 gün önce

“No retailer is too big to fail.” Pick n Pay SA CEO Sean Summers, who has the task to turnaround the troubled retail group, warns that even major retailers can fail. He points to once dominant retailers like Stuttafords and Edgars in South Africa as proof that size offers no protection. Another example? OK Zimbabwe. “OK was a 10-tonne gorilla” when Pick n Pay entered Zimbabwe in 2010, Summers says. Now, OK is “going to be gone”. Pick n Pay owns 49% of TM Pick n Pay. Since 2024, it has stopped including the Zimbabwe business in its group results. Had TM Pick n Pay been included in the year to March 2026, Pick n Pay’s share of the losses would have been the equivalent of about US$2.3 million, a narrower loss from the US$3.1 million loss the previous year. 📍 TM Pick n Pay has 73 stores in Zimbabwe, where formal retail is under pressure from informal trade, high regulation and currency distortions. 📍 Separately, in SA, Pick n Pay closed 56 shops over the past year as part of its restructuring.

“No retailer is too big to fail.” Pick n Pay SA CEO Sean Summers, who has the task to turnaround the troubled retail group, warns that even major retailers can fail. He points to once dominant retailers like Stuttafords and Edgars in South Africa as proof that size offers no protection. Another example? OK Zimbabwe. “OK was a 10-tonne gorilla” when Pick n Pay entered Zimbabwe in 2010, Summers says. Now, OK is “going to be gone”. Pick n Pay owns 49% of TM Pick n Pay. Since 2024, it has stopped including the Zimbabwe business in its group results. Had TM Pick n Pay been included in the year to March 2026, Pick n Pay’s share of the losses would have been the equivalent of about US$2.3 million, a narrower loss from the US$3.1 million loss the previous year. 📍 TM Pick n Pay has 73 stores in Zimbabwe, where formal retail is under pressure from informal trade, high regulation and currency distortions. 📍 Separately, in SA, Pick n Pay closed 56 shops over the past year as part of its restructuring.

20,868 görüntüleme • 29 gün önce

📍 Parliament: “Lengthening the runway doesn’t give the airline an extra contract…” In his reading of the Constitutional Amendment Bill 3, Justice Minister Ziyambi turns to aviation metaphors to defend a proposal to extend the President’s term without a referendum #CAB3

📍 Parliament: “Lengthening the runway doesn’t give the airline an extra contract…” In his reading of the Constitutional Amendment Bill 3, Justice Minister Ziyambi turns to aviation metaphors to defend a proposal to extend the President’s term without a referendum #CAB3

18,257 görüntüleme • 25 gün önce

🧵 ZANU PF Conference Resolutions: ZANU PF has ordered Govt to fast-track legal changes extending President Mnangagwa’s term. The party has directed Govt to amend the law within a year, reaffirming a resolution first passed at last year’s conference.

🧵 ZANU PF Conference Resolutions: ZANU PF has ordered Govt to fast-track legal changes extending President Mnangagwa’s term. The party has directed Govt to amend the law within a year, reaffirming a resolution first passed at last year’s conference.

130,232 görüntüleme • 8 ay önce

While Zimbabwe’s official GDP data puts it ahead of regional peers on size, its banking sector tells a different story: the key sector is far smaller than that of its neighbours. At the CZI’ post-budget seminar today, BancABC’s James Wadi says this shows that much of the economy is informal, and businesses have limited access to the loans that they need to grow: 🇿🇲 Zambia: US$8.2bn in deposits, US$4.1bn in loans 🇲🇿 Mozambique: US$11.7bn in deposits, US$4.5bn in loans 🇿🇼 By deposits, Mozambique’s banking sector is three times bigger than Zimbabwe’s • Zimbabwe’s top three banks hold just US$2bn in deposits, while Mozambique’s top 3 hold have four times more

While Zimbabwe’s official GDP data puts it ahead of regional peers on size, its banking sector tells a different story: the key sector is far smaller than that of its neighbours. At the CZI’ post-budget seminar today, BancABC’s James Wadi says this shows that much of the economy is informal, and businesses have limited access to the loans that they need to grow: 🇿🇲 Zambia: US$8.2bn in deposits, US$4.1bn in loans 🇲🇿 Mozambique: US$11.7bn in deposits, US$4.5bn in loans 🇿🇼 By deposits, Mozambique’s banking sector is three times bigger than Zimbabwe’s • Zimbabwe’s top three banks hold just US$2bn in deposits, while Mozambique’s top 3 hold have four times more

105,040 görüntüleme • 6 ay önce

At the World Governments Summit in Dubai, President President of Zimbabwe answers questions from Tucker Carlson on the US-China rivalry, Zimbabwe’s land reform, and recent events in Venezuela. He was on a panel with Presidents Julius Maada Bio of Sierra Leone and Botswana’s Duma Boko.

At the World Governments Summit in Dubai, President President of Zimbabwe answers questions from Tucker Carlson on the US-China rivalry, Zimbabwe’s land reform, and recent events in Venezuela. He was on a panel with Presidents Julius Maada Bio of Sierra Leone and Botswana’s Duma Boko.

77,682 görüntüleme • 4 ay önce

“Ziscosteel is dead…” MP Caston Matewu 🇿🇼, chair of Parliament’s Public Accounts Committee, says it would be unwise for the Mutapa Fund to put money into the old steel plant. Mutapa’s target, all along, has been Zisco’s rich mineral resources 🔗

“Ziscosteel is dead…” MP Caston Matewu 🇿🇼, chair of Parliament’s Public Accounts Committee, says it would be unwise for the Mutapa Fund to put money into the old steel plant. Mutapa’s target, all along, has been Zisco’s rich mineral resources 🔗

29,875 görüntüleme • 1 ay önce

“We don’t have a problem of entrepreneurship in Africa. Our kids leave school knowing if you don’t start something, you’re not going to be employed….” At the #WEF2025, Econet Group founder Strive Masiyiwa calls for better funding ecosystems for emerging African entrepreneurs. “You do not fund startups with debt. You provide equity capital, venture capital…”

“We don’t have a problem of entrepreneurship in Africa. Our kids leave school knowing if you don’t start something, you’re not going to be employed….” At the #WEF2025, Econet Group founder Strive Masiyiwa calls for better funding ecosystems for emerging African entrepreneurs. “You do not fund startups with debt. You provide equity capital, venture capital…”

216,892 görüntüleme • 1 yıl önce

“If I was your board, I’d fire you..” Last week, OK Zim said the skewed exchange rate gives informal traders an edge while killing supermarkets. Today, at a meeting with business, Treasury Secretary George Guvamatanga reacts: Supermarkets should innovate [🎥 Herald]

“If I was your board, I’d fire you..” Last week, OK Zim said the skewed exchange rate gives informal traders an edge while killing supermarkets. Today, at a meeting with business, Treasury Secretary George Guvamatanga reacts: Supermarkets should innovate [🎥 Herald]

376,238 görüntüleme • 2 yıl önce

Cabinet: Finance Minister Hon Prof Mthuli Ncube says Treasury earned US$2.55 billion and spent US$2.25 billion in the first quarter of 2026, helped by work to stop smuggling. "We also have smuggling of exports, especially around minerals; that too requires a very serious consented efforts to slow this down."

Cabinet: Finance Minister Hon Prof Mthuli Ncube says Treasury earned US$2.55 billion and spent US$2.25 billion in the first quarter of 2026, helped by work to stop smuggling. "We also have smuggling of exports, especially around minerals; that too requires a very serious consented efforts to slow this down."

23,176 görüntüleme • 1 ay önce

“2030 wasn’t even our date. It’s their lawyers who wrote that statutory instrument…” Treasury Secretary George Guvamatanga claims it was the private sector that pushed government to set 2030 as the deadline to end the multicurrency system and move to a sole local currency. Uncertainty around the timeline has slowed bank lending and investment. Guvamatanga says the deadline (under SI218/2023) may now be ‘reviewed’

“2030 wasn’t even our date. It’s their lawyers who wrote that statutory instrument…” Treasury Secretary George Guvamatanga claims it was the private sector that pushed government to set 2030 as the deadline to end the multicurrency system and move to a sole local currency. Uncertainty around the timeline has slowed bank lending and investment. Guvamatanga says the deadline (under SI218/2023) may now be ‘reviewed’

88,357 görüntüleme • 6 ay önce

Cabinet today: Government agrees a deal with construction company Bitumen World to rebuild the Beitbridge-Vic Falls highway. It’s to be done under a build, operate and transfer model. This means Bitumen must raise the substantial funding needed for the 760km road, build it, operate it for a profit over an agreed period, before handing it to the public.

Cabinet today: Government agrees a deal with construction company Bitumen World to rebuild the Beitbridge-Vic Falls highway. It’s to be done under a build, operate and transfer model. This means Bitumen must raise the substantial funding needed for the 760km road, build it, operate it for a profit over an agreed period, before handing it to the public.

225,421 görüntüleme • 1 yıl önce

“Those who will be found wanting will regret the day of their existence” Parliament Speaker Jacob Mudenda issues threats after power went out as President Emmerson Mnangagwa wrapped up his State of the Nation Address today. In November last year, Parliament suffered a power cut during the Budget presentation, attended by the President. ZESA blamed that outage on a storm

“Those who will be found wanting will regret the day of their existence” Parliament Speaker Jacob Mudenda issues threats after power went out as President Emmerson Mnangagwa wrapped up his State of the Nation Address today. In November last year, Parliament suffered a power cut during the Budget presentation, attended by the President. ZESA blamed that outage on a storm

98,661 görüntüleme • 8 ay önce