Business

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Parliament To Probe Tax Regime

Parliament will soon carry out an investigation into the country’s tax regime amid concern from business that several layers of statutory obligations are pushing operating costs and hampering competitiveness. As the Finance minister makes final touches to the 2023 National Budget following consultations, industry bodies such as the Zimbabwe National …

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Insurers Choke On Debt Stocks

THE short-term insurance sector is reeling in a crippling crisis as debts running into millions of dollars have accumulated due to clients struggling to pay premiums. This has pushed the industry to lobby the government for legislation that ensures a cash upfront model for insurance policies. The Zimbabwe Independent understands …

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Foreign Investors Lose Millions In Sham Deals

In a fraudulent case which may dent Zimbabwe’s investment profile, a Netherlands Liquid Petroleum Gas (LPG) equipment manufacturing giant Euro LPG BV lost millions of United States dollars to a consortium of local business people. The fight over the investment has turned nasty with counter-legal actions playing out in this …

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Steel Giant Injects Millions Into Zim

ARCELORMITTAL, one of the world’s largest steel producers which imports 70 percent of coke produced in Zimbabwe, is set to build coke oven batteries as part of the beneficiation and value addition process that will create thousands of jobs for the country. Each coke oven battery is valued at US$15 …

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100MW Solar Station For Norton

Cabinet yesterday approved a framework agreement for a 100 megawatt solar power station in Norton signed between Zimbabwe and Belarus as Zimbabwe continues adding generating capacity. While large hydro stations have to be on the Zambezi River, although small local ones can and are being set up as well, and …

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Charles Mudiwa To Retire As Stanbic Bank Kenya & South Sudan CEO

Stanbic Bank Kenya and South Sudan Chief Executive Charles Mudiwa will retire after two-decades with the Bank effective December 31 2022. Under Standard Bank Group, Africa’s largest bank by assets in 20 Sub-Saharan Africa markets, Charles has served in various capacities. His previous roles as Executive Director and Chief Executive …

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