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CIPF asset base tops $50m

Business Reporter THE Construction Industry Pension Fund (CIPF) says its asset base has grown to $50 million as at May 31, 2019, and views this as a milestone achievement in its 50 years of  existence. CIPF is one of the oldest pension funds in the country having been established on …

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SA trade conditions remain under pressure

Trade conditions in South Africa remained under pressure in June 2019, according to the South African Chamber of Commerce and Industry (Sacci). Sacci released its Trade Activity Index (TAI) and Trade Expectations Index (TEI) yesterday. All components of present trade activity came under slightly more pressure in June 2019, compared …

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Application of Act

One of the inadequacies that was often cited in connection with the repealed Procurement Act (Cap 22:14) was its limited application with regards to certain procurement process. In order to redress such weaknesses, the Public Procurement and Disposal of Public Assets (Cap 22:23) (PPDPA) Act’s section three (3) provides for …

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Income received by beneficiaries to a Trust

This article serves to inform that income received by a beneficiary from a trust is subject to tax. What is a trust? Section 2 of the Income. Tax. Act. (Chapter 23:06). Defines a “trust instrument” as “a deed, will, contract of settlement or other disposition, including a verbal declaration, by …

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Byo water crisis hits business

Pride Mahlangu Business Reporter THE business community in Bulawayo would meet the city council executives today to discuss the prolonged shut down in water supplies, which they say is negatively affecting their operations. Although the council has said the water cuts, which are entering into the second week, are meant …

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Zim reformes to unlock economy: AfDB

Martin Kadzere THE reforms being implemented by Government to improve business environment will in short to medium term unlock funding for the economy, a report by the African Development Bank has said, while emphasising the need to tackle corruption and observe good governance for a sustainable economic recovery. Zimbabwe, emerging …

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Stakeholders meet over Mines and Minerals Bill

Ishemunyoro Chingwere Business Reporter OFFICIALS from the Ministry of Mines and Mining Development, the relevant parliamentary portfolio committee and officers from the Attorney General’s office are meeting in Kariba to iron out sticky issues to the Mines and Minerals Bill. The meeting, which began yesterday, is expected to run up …

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‘Take advantage of Zambian market’

Michael Tome Business Reporter ZIMBABWEAN companies in the Fast Moving Consumer Goods (FMCG) and mining supplies sectors have been encouraged to take advantage of opportunities in the vast Zambian market. This was revealed by ZimTrade chief executive Allen Majuru while presenting Zambia market survey findings in the capital yesterday. The …

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Zesa throws RBZ under the bus

BY TATIRA ZWINOIRA ZIMBABWE’S power utility, Zesa Holdings says the Reserve Bank of Zimbabwe (RBZ) has not provided with foreign currency to import power since last October. This comes as the southern African country is experiencing a severe power crisis due to low electricity generation at Kariba Power Station which …

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Stop baking biscuits, confectioneries: GMAZ

BY MISHMA CHAKANYUKA The Grain Millers Association of Zimbabwe (GMAZ) says the country’s flour stocks have improved, but has warned bakers not to “waste” supplies on confectionary and biscuits because the situation was still delicate. In a statement, yesterday, GMAZ chairman, Tafadzwa Musarara said flour supply to the bakeries from …

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