ZNCC President visit to Russia (14 to 17 January 2019)
ZNCC President Mr Tamuka Macheka was among the delegation to Russia that was led by His Excellency President E. D Mnangagwa. During the Russia Zimbabwe Business Forum, Mr Macheka did a presentation on the overall Business Environment in Zimbabwe and also extended an invitation to the Russian business to invest in Zimbabwe. The forum also consisted of MOU signing ceremony between ZNCC and Chamber of Commerce and Industry of the Russian Federation and the cooperation centered on:
Supporting Trade, investment and economic cooperation between the Russian Federation and the Republic of Zimbabwe through:
ZNCC President- Tamuka Macheka and CCI of Russia President – Sergey Katyrin during the MOU signing ceremony
ZNCC CEO meets World Bank Group (Wednesday 20 March 2019)
Two Senior Economists from the World Bank Group met with the CEO and Economic department on Wednesday 20 March 2019. The agenda of the meeting was to discuss the ZNCC membership and economic challenges that members face, opportunities before them, and support needed, competitive advantage in the sectors they operate, and government support they currently receive or would like to receive. The CEO spoke about membership, activities and support given to ZNCC members. He also mentioned about the great relationship that exists between ZNCC and the World Bank Group. Some of the highlight that came out of the meeting was that challenges being faced by business in Zimbabwe are; unavailability of forex, policy uncertainties’, no clear interest rates in the economy, high cost of doing business among others. The meet also went on to discuss on the current policy issues and what needs to be done to drive the economy to the positive.
ZNCC ACTIVITIES & EVENTS
2019 Mashonaland Region Annual Business Awards (29 March 2019)
On Friday 29 March 2019, ZNCC Harare Branch successfully held the 2019 Mashonaland Region Awards at Cresta Lodge, Msasa in Harare. The event was graced by Rwandan Ambassador to Zimbabwe His Excellency James Musoni, Hon Minister of Industry and Commerce Mangaliso Ndlovu and senior captains of the industry. The Awards ceremony saw various companies and individual walking away with prestigious awards and these include among others; Dr Oliver Mtukudzi – Lifetime Achievement Award (posthumously), Cottco – Exporter of the Year and Most improved exporter of the year in the Agriculture Sector, Cassava Smartech – ICT Innovation Award and Sustainability Award, Eugene Peters of Spidex Media – Young Entrepreneur of the Year, Veronica Gwatiringa of Zimbabwe Garden Seeds – Businesswoman of the Year, Regis Saruchera of Grant Thornton – Businessman of the Year among others.
"Receiving the award on Mr Saruchera’s behalf is Grant Thornton’s senior management - Mr Tonderai Mukubvu and Ms Christina Muzerengi.
Ms Veronica Gwatiringa, Zimbabwe Garden Seeds Managing Director receiving the Businesswoman of the Year Award.
ZNCC Midlands Chapter on Monetary Policy Statement, State of the Economy and Tax Implications from Fiscal Policy (March 15, 2019)
The Chamber’s Midlands Chapter on March 15, 2019 hosted a business dinner at Gweru’s Suburban Lodge where they deliberated on pertinent issues specified in the Monetary Policy gazetted on the 20th of February 2019 by the Central Bank Governor Dr John Mangudya. Speakers at the event included RBZ and ZIMRA officials who were invited to make presentations and to demystify any business concerns raised by the business community that was in attendance.
ZNCC Vice President Dr T. Manzungu made a presentation on the ZNCC’s perspective on the Monetary Policy and how it was going to impact the business community. In his presentation, he covered a number of issues including establishment of an Inter – Bank Foreign Exchange Market. ZNCC noted the move by the Central Bank as commendable as it allowed the market forces to determine the exchange rate. It also meant that businesses could now make use of the Foreign Exchange Market to acquire foreign currency for importing raw materials for production.
On Local Settlement of Nostro FCA Transfers; ZNCC perceived the development as favourable for business as it made it easy for businesses to transact using foreign currency through formal channels. The move would also help preserve value for businesses given that there is no need to convert foreign currency receipts into RTGS dollars.
RBZ’s presentation highlighted the major objectives of the 2019 Monetary Policy such as the establishment of inter-bank foreign exchange market to restore competitiveness and promote growth; correcting price distortions in the foreign exchange as well as goods markets; as well as aiming to improve export competitiveness through sale of export proceeds at market determined rates.
ZIMRA presentation highlighted a number of fiscal issues such as the Employment Tax Threshold reviewed upwards from $3600 to $4200/ year ($300-$350/month); Tender Tax Clearance issues as well as Transfer Pricing Penalties.
Zimbabwe – Belarus Business Delegation (22 – 28 April 2019)
Following the signing of the MOUs between ZNCC and Belarus Chamber of Commerce and Chamber of Commerce of the Russian Federation, ZNCC has been in discussion with the Belarus Chamber of Commerce in connection with Belarus Business Mission to Zimbabwe. The delegation which constitute more than 20 Business Executives will be visiting Zimbabwe from 22 April to 28 April 2019 during the ZITF week. The Belarus delegation will be coming to explore investment opportunities in Zimbabwe and a Zimbabwe-Belarus Business Forum will be held in Bulawayo on Thursday 25 April 2019. The forum will constitute Business to Business meetings. Expected delegates to attend include; government officials; investors, business and diplomatic society; civic society and academia.
2019 ZNCC Annual Congress (26 – 28 June 2019)
The ZNCC 2019 Congress will be held at the Elephant Hills Resort, Victoria Falls, Zimbabwe from 26 - 28 June 2019 under the theme: “Expanding horizons: Dynamic solutions for Economic Turnaround.” We expect our Congress this year to host international delegations from Russia. Other expected delegates to attend this years' Annual Congress include representatives from SADC and 21 member States of COMESA. There will also be a business-to-business (B2B) session; where views on selected economic sectors will be exchanged among delegates. Resolutions emanating from the discussions will be presented as input into policy formulation for improving the business environment to foster economic growth.
As part of its business advocacy and lobbying mandates the ZNCC on the 30th of August held a meeting with ZIMRA to discuss tax and fiscal issues affecting businesses. Some of the key challenges that were highlighted are:-
The Chamber presented and submitted its 2019 National Budget input to the Parliament Portfolio Committee on Industry and Commerce on 25 October 2018. Issues affecting business were presented to the Portfolio Committee and these include Boarder Management Systems-
ZNCC attended the Business Networking reception that was held on Wednesday 17 October 2018, following a visit by the Australia Africa Council. The reception was hosted by Australian Ambassador to Zimbabwe H. E Bronte Moules. The seminar provided an opportunity
The Chamber hosted His Excellency Beka Dvali – Georgia Ambassador to Zimbabwe on 23 October 2018. The visit by the Ambassador was meant to unlock investment opportunities in Zimbabwe and to facilitate Joint Venture opportunities given that Georgia is focusing on opening
ZNCC represented by ZNCC President Tamuka Macheka was part of the delegation to Russia that was led by His Excellency - President E D Mnangagwa from 14 to 17 January 2019. ZNCC presented, during the Russia Zimbabwe Business forum, on the overall Business
The Chambers Awards season is nigh, and all regions have opened up Nominations for Regional Awards!!! The nomination process is as follows. Nomination forms are sent to the general business public. These forms are to be filled in and returned to the ZNCC offices. After the submission date deadline
In cognisance of a declaration made by His EXCELLENCY THAT EVERY FIRST FRIDAY OF EACH CALENDAR MONTH IS A NATIONAL CLEAN UP DAY, This month’s clean- up day is tomorrow 01 February 2019. The National Clean Up Day is in the spirit of creating a clean, safe