Search Results for: Zimbabwe

*A newly approved European Union (EU) directive on transparency requirements for tax intermediaries will insist that accountants designing or promoting aggressive tax planning schemes report them to national tax authorities. The requirements, approved by the EU Council of Ministers, apply from July 1, 2020, and member states will have to fine intermediaries, including lawyers and bankers, that fail to report.…

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.…

ZIMBABWE government plans to roll out a USD300 million livestock development programme aimed at resuscitating the country’s ailing meat production sector have prompted mixed reactions from industry experts. Agriculture minister Dr Joseph Made last week (June 22) announced this ‘Command Livestock’ scheme, saying it would be backed by financing from the Preferential Trade Area Bank, a development institution for southern and eastern Africa, and private financiers.…

Demand is growing for a major international programme designed to support developing countries build up their tax audit capacity and – critically – the funding is there to meet that need. Launched as a joint initiative of the Organisation for Economic Co-operation & Development (OECD) and the United Nations Development Programme (UNDP) in July 2015 after an initial pilot phase, Tax Inspectors Without Borders (TIWB) sees tax experts work side-by-side with local officials in developing and emerging markets.…

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.…

KENYA’S EDUCATION MINISTER CALLS FOR LESS GOVERNMENT MEDDLING IN AFRICAN UNIVERSITY MANAGEMENT

Kenya’s education minister has called for African governments to pull away from direct management of their country’s universities, saying such meddling is unnecessary and can hinder the development of effective management.…

­­THE ZIMBABWE government has put in place a raft of measures to resuscitate the country’s weak textile industry, but players in the sector say lack of consultation, bureaucracy and the general economic hardship threaten full recovery.

The southern African country’s textile industry is operating between 30%-35% of its full capacity, and President Robert Mugabe’s government is keen to turnaround this key industry’s fortunes.…

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.…

THE MODERATION of growth across sub-Saharan Africa last year to 1.5%, (according to the World Bank), from an average 5-7% per annum in the previous 10 years, may signal that the region needs to firm up its financial professions and institutions to help preserve its recent economic gains.…

ZIMBABWE President Robert Mugabe has opened an upgraded Victoria Falls International Airport, built by development projects group China Jiangsu International, backed by a USD150 million loan from the Export-Import Bank of China. The renovated airport can now handle 1.5 million passengers annually, with a new international terminal building, 4 km runway, control tower, fire station, associated road networks, and a refurbished domestic terminal plus extended aircraft parking areas.…