Category: Business
Standard Chartered launches US$1000 Youth Startup Challenge
Standard Chartered Zimbabwe has launched a new community project to support the youth in Zimbabwe recover from the economic impact of the COVID-19 pandemic. The programme is part of Futuremakers by Standard Chartered, the Bank’s global initiative to tackle inequality by promoting economic inclusion for young people for disadvantaged young people across its markets, including […]
Cassava’s Maisha Health launches USSD medical aid registration
Cassava Smartech Zimbabwe’s medical or health insurance division Maisha Health Fund has announced a new service that will allow anyone to register for medical aid via USSD. Anyone who needs medical cover can now find options through Maisha Health’s *147# USSD. The main motivation behind this is to increase the digital channels to those that […]
Econet Wireless Zimbabwe calls for early redemption of debentures
A few days ago Econet Wireless Zimbabwe (Econet) issued a notice to its debenture holders offering to redeem debentures it issued on 17 January 2017 early. This means instead of waiting for them to mature about three years from now, the holders of the debentures can have them redeemed now. The debentures have a market […]
Mureza Auto to roll out its first 100 vehicles in Zim and SA
Mureza Auto has announced that it will be rolling out 100 vehicles into the market starting next week. The countries that will be the first recipients are Zimbabwe and South Africa and the news follows of the company being granted a licence to produce cars in South Africa. “Mureza Holdings (Pty) Ltd now a licenced […]
Thumeza, the local logistics startup that is a finalist in a US$750K accelerator
Thumeza, is a local startup that offers financing to small scale logistics operators. It was recently named as one of the 10 finalists for the Telecel Group under its Africa Startup Initiative Program (ASIP) and Startupbootcamp Afritech US$750K accelerator along with another Zimbabwean startup called Dawa Health. I got the opportunity to “virtually” sit down […]
From cassettes to WhatsApp MP3s: How music distribution has evolved in Zimbabwe
Who remembers the days when you had to use a pen or pencil to rewind a cassette tape? It feels like a lifetime ago, and for good reason. The production and distribution of music in Zimbabwe (and the world over) has been liberalized to the point that anyone with a laptop can be a producer […]
Jah Prayzah fans are not happy with his Gateway Stream exclusive album launch
As I am sure you have already heard Jah Prayzah has launched his latest album Gwara exclusively (audio version) on local super app Gateway Stream. If you have never come across the app it’s akin to Cassava Smatech’s Sasai in that it has a lot of services under its umbrella. You can book hotels, do […]
What I learnt from this African Animator’s journey…
I recently had a great conversation with Pious Nyenyewa. Yes, the Zimbabwean animator who was recently announced as one of the directors of Kizazi Moto: Generation Fire (a Disney Plus Original anthology of animated films). The fact that Pious has gotten this far means he has probably done something right. From our conversation I took […]
TelOne’s revenue grew by 147% in 2020 backed by increased demand for broadband services
State-owned telecommunications firm TelOne today held its Annual General Meeting where the company presented some impressive figures for 2020. The highlight of the report was the revenue generated increasing by 147% in 2020 to record (inflation-adjusted) ZWL$4.7 billion from the ZWL$1.9 billion that was registered in 2019. TelOne also saw a 14% growth in subscribers […]
FBC has set its sights on disruption with the launch of a Fintech division
FBC Holdings has thrown a curveball with the announcement of its new Fintech Division/Company called Xarani. According to FBC the reasoning behind the formation of the company is to better maximise the opportunities that have sprung up in the accelerated shift to digital that was a consequence the pandemic Xarani’s launch is something that I […]
DStv may soon let you pay for channels you want to watch
After 25 years of boxing customers into packages depending on their tax bracket, it looks like Multichoice has finally seen the light. In a report by News24, the paid TV service is testing out “unbundling” its entertainment, sports, and movie channels in what is being called “DStv Flex”. What this essentially means is that you […]
Local comedian “Tha Slick Pastor” lands Netflix deal
Tha Slick Pastor who’s real name is Nigel Maritinyu has become the second Zimbabwean this month to land a deal with Netflix to feature in a movie according to a report by New Zimbabwe. The first was socialite Lorraine Guyo who announced that she will be starring in a Netflix Original Film called “The Bad […]
Deposit incentives but no protection for USD, the mess that is Zim’s monetary policy
Yesterday we reported on the lack of coverage for USD deposits by the Deposit Protection Corporation (DPC). And a lot of people weren’t too surprised that this provision was not set by the Reserve Bank of Zimbabwe (RBZ) and Ministry of Finance. While that gap exists in the banking sector, the Reserve Bank announced interest […]
The Zim dollar can be converted worldwide according to Ministry of Finance
Deputy Minister for Finance, Clemence Chiduwa said in Parliament that the Zim dollar (ZWL$) is accepted regionally and internationally according to a report by OpenParly. The issue of the convertibility and regional or international acceptance of our currency as we speak now, the Zimbabwean Dollar is accepted regionally and internationally through the exchange rate. Not […]
Two Zim content creators have been selected to make a Disney movie
Two Zimbabwean content creators Pious Nyenyewa and Tafadzwa Hove have been selected to be a part of the Disney’s “Kizazi Moto: Generation Fire” African Anthology. The two were picked along with 12 other African content creators to make ten short films for Disney’s streaming service. Disney’s selection process was curated by Cape Town animation house […]
Zim has ZWL$9.8 billion budget surplus? In this COVID hit economy?!
Earlier this week, Minister for Finance Mthuli Ncube said that Zimbabwe had a budget surplus of ZWL$9.8 billion in Q1 of 2021. A budget surplus is essentially the government making more money from income like taxes and the likes than it is spending. Now there are many ways to interpret this especially with COVID-19 being […]
ZIMRA: PAYE, 2% Tax & Withholding Taxes due 10 June 2021
The Zimbabwe Revenue Authority (ZIMRA) has in a statement notified all that PAYE (Pay As You Earn), IMTT (2% Tax) and Withholding Taxes for May 2021 are due on the 10th of June 2021. ZIMRA’s Statement reads as follows: The Zimbabwe Revenue Authority (ZIMRA) hereby reminds all its valued clients that the following returns and […]
Two Zimbabweans feature on Forbes’ 30 under 30 for 2021
Forbes Africa released its list for its 30 under 30. This is the seventh running of the list and it is there to recognise entrepreneurs, athletes, artists and influential people on the continent. And as you may have already guessed this year’s listing was heavily influenced by the COVID-19 pandemic and how it disrupted a […]
RBZ “SI 127 is not designed to harm business”
In some near midnight tweeting, the Reserve Bank of Zimbabwe (RBZ) posted a thread clarifying Statutory Instrument 127 of 2021 (SI 127 of 2021). Here’s what the central bank had to say: SI 127 more about the Forex Auction participants according to the RBZ Some points to note on S.I 127 of 2021: The purpose […]
OK Zimbabwe has stopped accepting USD payments because of SI 127
The long arm of Statutory Instrument 127 of 2021 (SI 127 of 2021) has reached one of Zimbabwe’s biggest retailers. In a memo to all branches, OK Zimbabwe will not be accepting USD payments because of the separation of receipts provision under SI 127 of 2021. Memoranda To: All Branches Att: All Branches, Financial Services, […]
SI 127 is going to increase ZWL$ prices & encourage black market conversions
Yesterday the government announced SI 127 of 2021 which put new rules and penalties of forex use. The Statutory Instrument looks like it was designed to stop businesses from pricing goods and services above the auction-rate more than anything else… The response by businesses as we saw in a tweet by journalist Hopewell Chin’ono is […]
Businesses to face Z$50K fine for not accepting ZWL$ equivalent of US$ goods & services
Here are new regulations for forex use under SI 127 of 2021 which details penalties for businesses who infringe Foreign Exchange Act and Bank Use Act
If you are interested in stocks & trading check out Deriv
If you have been around the stocks and trading scene for some time then the name Deriv isn’t anything new. The company, which was initially called Regent Markets in 1999 was established as an online trading platform with the goal of universal access. What is Deriv offering? Deriv, true to its mission, offers a range […]
SA electric vehicle company to set up assembly plant in Zim
Agilitee is a South African electric vehicle manufacturing company that specialises in electric motorcycles and scooters. The company last year embarked on a capital raising exercise and at the same time looking for prospective franchisees in Zimbabwe, Nigeria among other African countries. In an acceleration of events, it looks like Agilitee is now looking to […]
Pay As You Earn (PAYE) USD tax rates and tables 2021
It’s 2021 and dollarisation 2.0 is in full swing so if you are earning or paying employees in foreign currency (USD) here are the PAYE or Pay as you Earn tax rates according to ZIMRA. PAYE (Pay As You Earn) is a way of paying income tax on salaries. The employer is charged with deducting […]
Apple is apparently giving the Chinese govt control over local user data
Is Apple cozying up to the Chinese government?