Life assurers reported a 9 percent decline in profit to $33 million in the quarter to June from $37 million in the comparable period last year on increased operating expenses.
Zimbabwe’s tax agency says it is only collecting about 30 percent of potential revenue as tax compliance remains a challenge. The bulk of the southern African nation’s revenue collections comes from individual tax (Pay As You Earn), followed by excise duty.
The Zimbabwe Stock Exchange opened the week on a high note adding 1.45 percent to close at 512.67 points.
Zimbabwe’s annual inflation for September stood at 0.78 percent, gaining 0.64 percent on the August 2017 rate of 0.14 percent, the statistics agency reported today.
Zimbabwe is an expensive tourist destination if one measures the value of the Rand (or Pula) against the Dollar and consider the most expensive border fees in the region.
The proposed Zimbabwe African National Union-Patriotic Front special congress that is being called for this year could open a can of worms as only two provincial executives are properly constituted and President Robert Mugabe’s leadership could be challenged as null and void.