Zimbabwe’s tax agency has directed the tobacco industry regulator to withhold 10 percent of the money payable to suppliers without valid tax clearance certificates.
Lafarge Cement’s Zimbabwe unit reported a 59 percent increase in profit from $1.9 million to $3.1 million for the full year to December 2016.
The Zimbabwe Stock Exchange’s total market turnover increased by 146 percent in March to $26.9 million from $10.97 million recorded in the previous month, its highest for two years pushed by brisk trade in Econet shares.
Bulawayo South Member of Parliament Eddie Cross has blasted the proposed National Competitiveness Commission Bill saying Parliament should not approve it as it is a waste of money because its job is already being done by the Ministry of Industry and Commerce.
Civil engineering group Masimba Holdings has reported a $700 000 after tax profit for the full year to December from a loss position of $1.2 million previously on the back of a surge in the order book and cost cutting measures, chairman Gregory Sebborn says.
Zimbabwe’s Speaker of Parliament Jacob Mudenda has ordered the Minister of Women’s Affairs, Nyasha Chikwinya, to give a comprehensive statement on the appointment of board and staff for the proposed Women’s Bank or face charges of contempt of Parliament.
Zimre Holdings is set to make a mandatory offer to compulsorily buy out minority shareholders in CFI after it raised its shareholding in the company to 41.03 percent, said company secretary Panganayi Hare in a statement.
“The ANC is using the ZANU-PF tactics of remaining in power,” South Africa’s Pan Africanist Congress (PAC) declared this week.