“If I have the belief that I can do it, I will surely acquire the capacity to do it even if I may not have it at the beginning – Gandhi”

“If I have the belief that I can do it, I will surely acquire the capacity to do it even if I may not have it at the beginning – Gandhi”

By Chester Dimairho Last week I briefly introduced the “Statutory Compliance/Operations” pillar. Starting today, I am going to write in greater detail about statutory compliance and how to structure your operations. Both matters are critical. However, I will start with statutory compliance first. A few weeks ago I had a meeting with an official from Small and Medium Enterprises Development Corporation (SMEDCO). The meeting did two things for me. On one hand, I was excited and on the other hand, I was deeply disappointed. The official said to me that…

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Sanity in market, as festive season draws to an end

Sanity in market, as festive season draws to an end

COMMENT HAVING announced the halt in trading on the Foreign Exchange Auction, as the festive season beckoned, Minister of Finance Mthuli Ncube had hoped the prevailing rate to remain stable, despite trade commencing in January 2021. His (Mthuli Ncube) hunch could have been spot on as the market is somewhat trading inline with the prevailing exchange rate. Parallel market rates currently stand at US$1: ZW$80, but for buying the USD a customer is required to pay from about ZW$120 for US$1. These rates have been prevailing since before the Finance…

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A tale about Tommy-shoes, rubbing shoulders with Premier League’s elite

A tale about Tommy-shoes, rubbing shoulders with Premier League’s elite

By Simbarashe Musaki THE adage ‘dynamite comes in small packages’ aptly describes the pint-sized former Dynamos FC prolific goal poacher, Esau Amisi, who was arguably one of the country’s next brightest star before injury blighted a blossoming career that could have seen the lively Amisi grab international headlines for his exploits on the football pitch. Amisi, who became one of the youngest players to grace the country’s Premier Soccer League (PSL) in the new millennium, exploded on the local footballing scene during Moses ‘Bambo’ Chunga’s youthful assembled Dynamos FC squad,…

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Black granite firms robbing Zimbabwe through trade misinvoicing: Maguwu

Black granite firms robbing Zimbabwe through trade misinvoicing: Maguwu

By Tendai Sahondo Hailed for its unique qualities, Zimbabwe’s black granite is on-demand the world over. The famed black diamond adorns majestic buildings such as the Royal Danish Library; however, the glitzy stone has also been exploited as a means to siphon millions, illicitly, through trade misinvoicing. According to Global Financial Integrity (GFI), Trade misinvoicing is a method of moving money illicitly across borders through deliberate falsification of the value, volume, or quality of an international commercial transaction of goods or services. Trade misinvoicing is the largest component of Illicit…

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Private schools at it again

Private schools at it again

COMMENT AS Zimbabweans are already geared up for the festive season, a number of parents whose children are enrolled at private schools will most likely have a gloomy festive season, as some schools have already announced new increased school fees for the 2021 first term. The news undoubtedly comes as a shock, as most parents with children attending these private schools that are in the habit of increasing fees are not even earning their salaries in the US dollar, but the local currency. For instance, this paper received a letter…

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Affirm and reaffirm our unity as a people – ED

Affirm and reaffirm our unity as a people – ED

By Ruvimbo Chatyoka and Nomthandazo Gabi PRESIDENT Emmerson Mnangagwa implored Zimbabweans to preserve the peace and unity prevailing in the country, as the nation celebrated 33rd years since the signing of the Unity Accord, which united ZANU PF and PF-ZAPU, on the 22nd December 1987. During the liberation struggle, both ZANLA and ZIPRA progressively came together and fought against settlers as a united front. The Unity Accord is, thus deeply rooted in our history. The historic accord ended the disturbances which had flared up soon after Independence and threatened to…

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Hall of Famer, Mkhokheli, reflects on illustrious career

Hall of Famer, Mkhokheli, reflects on illustrious career

By Simbarashe Musaki MKHOKHELI Dube’s pace, talent and an unmatched enthusiasm in front of goal propelled him through football ranks to become a darling of soccer fans in Zimbabwe and the United States of America, where he was inducted in Michigan Bucks Hall of Fame for his efforts for the Major League Soccer (MLS) franchise. Without scratching the surface, The BusinessConnect hooked up with Mkhokheli Dube, popularly known as Mshoza/ Mkhoza, to dig up his rise to stardom Dube, a boyhood supporter of Highlanders FC was born on June 18,…

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“It doesn’t matter where you come from. All that matters is where you are going – Brian Tracy”

“It doesn’t matter where you come from. All that matters is where you are going – Brian Tracy”

By Chester Dimairho Last week was the last article on Corporate Governance. Before we go to the supporting pillars of the business, let us have a short recap: Corporate Governance 101 – Separate business finances from personal finances Corporate Governance 102 – Be honest Corporate Governance 103 – Harness technology I personally recommend that corporate governance structures be put in place first as they are the foundation of our model. However, some business owners have the capacity to make changes to their businesses all at once. Or others may feel…

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Government appoints Kudenga to rescue CSC

Government appoints Kudenga to rescue CSC

By Nomthandazo Gabi and Ruvimbo Chatyoka THE Government has appointed a Corporate Rescue Practitioner, Ngoni Kudenga of BDO Zimbabwe to resuscitate the ailing Cold Storage Company (CSC) after the Minister of Lands, Agriculture, Water and Rural Resettlement Dr Anxious Masuka applied to have the company placed under a corporate rescue plan. The rescue plan is implemented along guidelines provided by the insolvency Act Chapter 6: 07. Previously, a US$400 million agreement was made with a United Kingdom-based investor (2019), as authorities looked to resuscitate the CSC, through the agreement which…

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Farmers to produce ‘Production Returns’ or risk losing farms

Farmers to produce ‘Production Returns’ or risk losing farms

By Edward Mukaro GOVERNMENT has informed the 370 000 plus, A1 and A2 farmers, of the upcoming mandatory ‘Production Return’ exercise that will be used to guide authorities in the repositioning and redistribution of land, as the nation sets sight on reaping full benefits from the main source of production, in the country. Despite carrying out the Land Reform programme just over 20 years ago, Zimbabwe is yet to fully benefit from a large chunk of the repossessed land, as local farmers have been affected by a myriad of challenges,…

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