Retailers yet to reduce 15% VAT

Patrick ChinamasaTHE 15% value-added tax (VAT) introduced by the government recently on all meat products and cereals is still effective despite Finance minister Patrick Chinamasa claiming to have suspended it, business officials have said.

The government recently imposed a 15% VAT on all meat products and cereals under Statutory Instrument 20 of 2017, a move that triggered a sharp increase in the prices of most basic foodstuffs, as retailers passed on the cost to end users. Read more

Farming tips: sugar beans

Image result for sugar beans plantsSugar beans are popular with both subsistence and commercial farmers countrywide but many are not able to maximise their yield because of poor farming skills. The following are tips to help increase productiveness.

Preparing the land

The land should be well prepared in order to leave the soil loose enough for planting seeds. This loose topsoil should be about 15cm deep.

To add manure to the soil the farmer may use garden compost as artificial compounds may contain too much nitrogen. Beans produce nitrogen so it is important not to use too much fertilizer. Read more

Zimbabwean Mr. Mushosho to head Old Mutual Africa business

Old Mutual Zimbabwe managing director, Jonas MushoshoOld Mutual Emerging Markets has appointed Jonas Mushosho to the position of chief executive for their Rest of Africa business.

The appointment is with immediate effect.

Old Mutual Rest of Africa includes all countries in Africa, except South Africa.

The 13 countries falling under this banner are Zimbabwe, Malawi, Swaziland, Botswana, Namibia, DRC, Tanzania, Rwanda, Kenya, Uganda, South Sudan, Nigeria and Ghana.

Prior to this appointment, Mr Mushosho doubled as CEO for Old Mutual Southern and East Africa (OMSEA), as well as for Old Mutual Zimbabwe. Read more

Kwese TV to challenge DSTV dominance

Image result for kwese tv and dstvEconet Media – a subsidiary of telecommunications company Econet Group founded by Zimbabwean Strive Masiyiwa – launched its pay-TV satellite service Kwesé TV.

The service can be accessed via the company’s own satellite and decoder, and is currently available to viewers in Ghana, Rwanda and Zambia – the first countries to grant a licence. It is expected to roll out in other key territories by the end of April.

The pay-TV market in Africa has been mostly dominated by MultiChoice’s DStv, which is owned by the continent’s largest internet and media company, Naspers. Read more

Black Businessman do not want to pay taxes – Zim Finance Minister

Patrick ChinamasaMany black businessmen in Zimbabwe refuse to pay taxes, but expect the government to provide them with public services, Finance Minister Patrick Chinamasa has said, the private NewsDay newspaper reports.

Mr Chinamasa challenged MPs in parliament to offer constructive suggestions on how to improve the government’s income, saying that only 3% of every $100 ( £80) of revenue collected went towards delivering services while the bulk was consumed by the wage bill, the newspaper added. Read more

Outcry as government imposes 15% VAT on basic food

Image result for zimbabwe supermarketZIMBABWE started levying a 15 percent value-added tax on basic foodstuffs Wednesday, the government said, dealing a further blow to cash-strapped consumers already battling to survive in an ailing economy.

The tax affects meat and staple foods such as cereals, rice and potatoes.

Other goods listed by the finance ministry include margarine, fish and pork.

The move comes at a time when Zimbabweans are faced with unemployment of over 90 percent and rising levels of poverty. Read more

Econet loses 400 000 subscribers in 3 months

OVER 400 000 subscribers deserted Econet Wireless Zimbabwe between July and September last year, latest Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) statistics have indicated.

Econet was the only one of a three-member league of mobile telecoms providers to report falling numbers in active subscribers during the period, according to the POTRAZ report.
It said the slide in Econet’s active subscribers dragged the combined sector total southwards.

Econet controls close to 50 percent market share of the 20 million subscribers on the three mobile phone networks, which include its State controlled rivals, NetOne and Telecel Zimbabwe. Read more

Zanu PF MP fingered in fuel tankers scam

Terence MukupeZanu-PF legislator for Harare East Terrence Mukupe has been mentioned in the fuel scam involving four tankers that entered the country with 140 000 litres of diesel purportedly in transit to the Democratic Republic of Congo, whose contents were emptied in Chitungwiza and replaced with water.

The Zimbabwe Revenue Authority did not charge excise duty for the fuel at Forbes Border Post after being duped the cargo was destined for the DRC. This prejudiced the State of $55 650. Read more

Regulator blocks Kwesé TV launch in Zimbabwe

 

Kwesé TV, the pay-TV service that’s part of Econet Media has finally gone live broadcasting in 3 countries as part of its first phase rollout.

Rwanda, Zambia and Ghana are the first to view Kwesé TV with Botswana, Nigeria, Tanzania, Kenya and Uganda lined up as the next countries where the service will be launched. It’s set to be introduced in 18 countries across Africa by June 2017.

Unfortunately, Zimbabwe wasn’t part of the first phase and looking at the lineup it’s not part of the second one either, something that will probably frustrate citizens here considering the close ties that Kwesé TV has with our country. Read more

US$5 million water processing plant for Mt Hampden

Image result for water processing plantA US$5 million water processing plant is set to be established in Mt Hampden to meet the needs of consumers in the wake of massive housing developments currently taking place in the area.

The establishment of the multi-million dollar water processing plant is one of several capital projects that Zvimba Rural District Council is set to embark on this year going forward.

ZVIMBA RDC CEO, Mr Peter Hlohla said the local authority is still doing the computations to come up with the actual project cost, but estimates are that it to be in the region of US$5 million. Read more

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