Category: Business
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?
Zimswitch needs to strike a balance between ZWL & USD e-commerce
The local merchant should not be left behind in the e-commerce boom.
Zimswitch partners with VISA to accelerate digital payments in Zimbabwe
There is just one niggle though…
5 Lessons from the Yunus East and Southern Africa business Forum for Youth Entrepreneurs
5 lessons for Zim’s social entrepreneurs from the recently held Yunus East and Southern Africa business Forum for Youth Entrepreneurs
Want to pitch your startup to VCs? Check out this competition
A chance to pitch your ideas to Venture Capitalists and maybe win a cash prize
Entrepreneurs, Jack Ma’s US$1.5 mil Africa’s Business Heroes competition is back!
US$1.5 million up for grabs!