Search Results for: Zimbabwean
27 results out of 27 results found for 'Zimbabwean'.
INTERNATIONAL REGULATORY ROUND UP – TRANS-ATLANTIC KNITWEAR TRADES BENEFIT FROM END OF AIRBUS DISPUTE
A trade war over airplane manufacturing subsidies between the USA and UK, which has led to 25% additional duties being levied on British knitwear exports to America, appears to have been resolved. The EU and the USA have suspended for five years retaliatory duties that both sides have imposed on each other’s exports in the long-running ‘Airbus’ subsidy dispute.…
INTERNATIONAL TECHNICAL ROUND UP – EU PASSES VAT FRAUD REFORMS
*EU member states have been given temporary permission to use so-called reverse charge mechanisms to collect VAT, involving shifting liability to pay from suppliers to customers, to fight fraud. The EU Council of Ministers has approved a directive allowing governments to reverse charge VAT on domestic supplies of goods and services above EUR17,500 per transaction until June 2022, when a country is losing 25% or more of VAT to carousel fraud.…
ZIMBABWE TAKES STEPS TOWARDS FIGHTING COMMERCIAL CRIME – BUT HOW MUCH ACTION IS MERE POLITICAL SCORE SETTLING?
THE POLITICAL career of Zimbabwe’s longtime President Robert Mugabe may have been consigned to history last November (2017), when he was forced from power, but the patronage system and corruption of his 38-year rule in Zimbabwe continues to be felt, both on the streets and in boardrooms.…
MUGABE’S DOWNFALL IS GOOD NEWS FOR BURGEONING TOBACCO SECTOR
For the first time since Zimbabwe gained independence from Britain in 1980, the African country’s tobacco selling season opened on March 21 this year with long time ruler Robert Mugabe no longer in power.
Former President Mugabe resigned last November (2017), faced with impeachment proceedings from Zimbabwe’s lawmakers, with the country’s generals and his own ZANU-PF party having turned against him.…
BRAZIL LOSES COMMANDING POSITION IN GLOBAL TOBACCO LEAF MARKETS OVER PAST 10 YEARS, WTO DATA SHOWS
THE IMPORTANCE of Brazil as the world’s top supplier of internationally-traded tobacco leaf and manufactured products has been waning for the past decade, with India, notably, improving its position. New statistical analysis released by the World Trade Organisation (WTO) shows that this market share fall for Brazil also represented a decline in volume sales, given the global trade in tobacco leaf and products has shrunk since 2013 – until 2016, the year for which the latest data is available.…
STRONG ZIMBABWE LEAF EXPORT LEVELS BUT UNLIKELY TO SOLVE COUNTRY’S ECONOMIC CRISIS ALONE
TOBACCO has been among Zimbabwe’s foreign exchange earners for decades, and the country remains Africa’s top producer of the golden leaf, despite the disruption that its agricultural sector faced in the early 2000s.
These days, the country’s cash-strapped government is supportive and is pinning its hopes on tobacco exports to spearhead an elusive economic recovery.…
AFRICA STARTS TO ADOPT PUBLIC ACCOUNTING STANDARDS – BUT THE JOB WILL NOT BE EASY
WITH the economies of sub-Saharan Africa emerging from past poverty, informality and occasional chaos, the regularisation of the region’s public sector accounts is increasingly viewed as an important way of ensuring growing tax revenues are spent wisely.
As a result, accounting experts have been encouraged by growing moves to adopt International Public Sector Accounting Standards (IPSAS).…
GREAT PROFITS MAY BE WON IN FAILED AND FRAGILE STATES – BUT THE RISKS ARE HIGH
THE ANCIENT Celts has a saying: “To the brave belong all things.” And in business, this remains true. Companies prepared to take big risks, can reap big spoils. But they can also stumble into disaster. Such calculations are always made when foreign companies consider trading or investing in so-called ‘failed states’ or those at risk of failure.…
WILDLIFE CRIME INCREASINGLY RUN BY INTERNATIONAL ORGANISED CRIMINAL NETWORKS
An unprecedented spike in rhino poaching has not only threatened the existence of the charismatic species but also shone a spotlight on the highly organised criminal networks responsible. Wildlife crime is no longer seen as victimless or offering little reward but authorities are fighting back with some innovative tactics, reports Mark Rowe. …
CURING-BASED DEFORESTATION CONTINUES TO CONCERN ZIMBABWE TOBACCO SECTOR
The scale of Zimbabwe’s reforestation programmes needs to vastly increase if they are going to counter the decimation of the country’s forests by the tobacco industry, a leading agricultural expert has warned.
Harare-based agriculture consultant Charles Taffs believes that if the current rate of deforestation continues without significant intervention, in less than seven years the 80,000 small-scale tobacco producers who supply the industry will have no wood left to burn for the leaf curing process.…
SENIOR ZIMBABWE MEAT INDUSTRY FIGURES CALL FOR COSTS REDUCTIONS TO AID EXPORTS
The Zimbabwean government has been urged by a major domestic meat processor to take steps that will make local meat more price-competitive and attractive to external markets as it prepares to undertake a meat export drive.
Chief executive of Colcom, Theo Kumalo, argued that the government needed to address the problem of high stock feeds, which continue to inflate costs.…
ZIMBABWE PLANS MAJOR PUBLIC INVESTMENT IN BEEF LIVESTOCK SECTOR
The Zimbabwe government last week (Sept 11) announced a USD51.2million livestock support scheme in its mid-term policy review, with the goal of producing 400,000 tonnes of beef per annum by 2018, in line with the country’s economic blueprint, Zim Asset.
A key focus of the policy is to benefit 1.6 million household livestock farmers, who would, for example, be supplied with 500g of tick grease, 1 litre of de-wormer solution, and 500ml of wound medicine.…
SUB-SAHARAN AFRICAN PERSONAL CARE MARKET GROWS AS WEALTH SPREADS
SUB-SAHARAN African makers of cosmetics and personal care products are profiting from a growing and increasingly stable regional market, where economic growth is increasing demand for personal luxuries.
A report, ‘Business in Africa – Corporate Insights’ by Dianna Games, Standard Bank South Africa estimates that more than half of Africa’s population would be living in urban areas by 2030 and 60% by 2050, when the population would be about 2.4 billion, compared to 1 billion now.…
ZIMBABWE TOBACCO OUTPUT BOUNCES BACK AFTER A DECADE OF DECLINE; BUT CAN GROWTH BE SUSTAINED?
BY CLEMENCE MANYUKWE
Zimbabwe tobacco output is bouncing back after a decade of decline; but can the country sustain growth in the industry?
After nearly ten years of plummeting production due to controversial agrarian reforms by Zimbabwean president Robert Mugabe, the African country’s tobacco output has finally surpassed the 100 million-kilogram mark for the second year running.…
MOZAMBIQUE'S FLEDGLING TOBACCO LEAF INDUSTRY FACES TOUGH CHALLENGES, BUT WILL PROPSPER SAY SUPPORTERS
BY BILL CORCORAN
Mozambique’s fledgling tobacco leaf industry faces tough challenges
Mozambique’s young tobacco leaf industry is growing despite sometimes difficult climactic conditions. It mainly grows Burley – which is under pressure from World Health Organisation guidelines. And Zimbabwe competition is a potential complication.…
ZIMBABWE'S DRINKS INDUSTRY BATTLING AGAINST EFFECTS OF RECORD HYPERINFLATION
BY CLEMENCE MANYUKWE
"IMAGINE a country with no Coca Cola," a headline in Zimbabwe’s weekly independent newspaper the Financial Gazette asked its readers recently.
The article quoted from the Bible, Proverbs chapter 31 verse 7 that reads: "Let him drink and forget his poverty and remember his misery no more", aptly summing up the drinking patterns in a nation where poverty is widespread due to a current world record inflation of 11.7 million % (and rising).…
AFRICAN WILDLIFE MAROONED ON MANMADE LAKE ISLANDS IS STRUGGLING TO SURVIVE
BY BILL CORCORAN, at Lake Kariba, Zambia
THE SIGHT of thousands of decomposing semi-submerged trees protruding from its murky waters is an eerie clue to the traumatic origins of southern Africa’s Lake Kariba, a 200km long manmade reservoir wedged between Zimbabwe and Zambia.…
ECONOMIC COLLAPSE IN ZIMBABWE FUELS PUBIC SECTOR CORRUPTION
BY BILL CORCORAN, in Johannesburg
AS Zimbabwe descends further into economic and political meltdown the country’s ruling elite are continuing to enrich themselves through fraud, theft and bribery. Bill Corcoran reports from Johannesburg.
UNLIKE politically stable countries where large scale commercial crime is just as likely to occur in the private sector as it is in the public, troubled Zimbabwe’s major fraudsters and thieves are today predominantly found in state run companies or government departments.…
TRADITIONAL MEDICINES FEATURE TAIWAN SOUTHERN AFRICA
BY STEVEN SWINDELLS, in Johannesburg, South Africa and DAVID HAWORTH, in Taiwan
TRADITIONAL health care systems do not always get a good press, being accused of incorporating superstition and poor medical practice. To some western public health advocates, they are akin to bringing back the leach.…
AFRICA MONEY LAUNDERING FEATURE LOOSE LEGAL CONTROLS CORRUPTION
BY STEVEN SWINDELLS, in Johannesburg
CENTRAL bankers, drug barons, warlords, corporate bosses and small town crooks in Africa are all washing their money despite attempts by governments and international law enforcement agencies to bring them to book. But financial crime has never been as lucrative as now on the world’s poorest continent.…
SOUTHERN EASTERN AFRICA REGIONAL ANTI-MONEY LAUNDERING BODY FEATURE - ESAAMLG
BY STEVEN SWINDELLS, in Johannesburg
THE FORTEEN countries of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) have their AML/CFT work cut out. Under-funded, lacking resources, short of political will and working in a region that leaks money like a sieve…it is a demanding context for the group’s daunting tasks.…
SOUTHERN AFRICAN PAINT AND COATINGS - BOTSWANA, NAMIBIA, ZIMBABWE, SWAZILAND, LESOTHO AND ZAMBIA
BY RICHARD HURST, in Johannesburg
THE PAINT and coatings industries in the Southern African states of Botswana, Namibia, Zimbabwe, Swaziland, Lesotho and Zambia are closely linked to that of the regional economic giant South Africa in the that the major manufacturing plants are located in the industrialised area of South Africa’s Gauteng province with branch offices in the neighbouring states acting as agents for the parent companies in South Africa.…
SOUTHERN AFRICAN PAINT AND COATINGS - BOTSWANA, NAMIBIA, ZIMBABWE, SWAZILAND, LESOTHO AND ZAMBIA
BY RICHARD HURST, in Johannesburg
THE PAINT and coatings industries in the Southern African states of Botswana, Namibia, Zimbabwe, Swaziland, Lesotho and Zambia are closely linked to that of the regional economic giant South Africa in the that the major manufacturing plants are located in the industrialised area of South Africa’s Gauteng province with branch offices in the neighbouring states acting as agents for the parent companies in South Africa.…
CONGO REPORT
BY KEITH NUTHALL
IT is rare that an international organisation report on a scandal involving crime, corruption, war and environmental degradation names and shames high profile companies, but that is what is contained within the latest United Nations (UN) Security Council report on the Congo.…
PLATINUM PRODUCTION
BY RICHARD HURST
THE MANAGING Director of Zimbabwe Platinum has welcomed several incentives recently introduced by the Zimbabwean government that are designed to assist the platinum group metals industry develop in the country.
Roy Pitchford, managing director of Zimbabwe Platinum said that he was confident that investors would have a safe return on investments despite the political and economic uncertainty surrounding the rule of president Robert Mugabe.…
SOUTHERN AFRICA FEATURE
BY RICHARD HURST
MONEY laundering is all about fake respectability, transforming the seedy and ill-gotten into the legitimate and well-earned; so in Africa, where better to launder criminal money than through the continent’s most developed economy, South Africa.
Mike Savage, partner at Ernst & Young South Africa, said that the biggest problem facing African governments wanting to seriously tackle money laundering is to pinpoint the movement of funds that are moved across porous borders in a bid to cover tracks and conceal sources.…
CONGO REPORT
BY KEITH NUTHALL
FINANCIAL restrictions should be imposed on companies, businessmen, ministers and soldiers charged with involvement in the shameless plundering of the mineral resources of the Democratic Republic of the Congo (DRC), a United Nations (UN) committee established to investigate the problem has concluded.…