Legal due diligence in private equity transactions
by Zola Ndlovu What is private equity? “Private equity” is an investment in the equity of a non-listed company. A private equity investor is a shareholder of the company whose rights are not governed by the rules of a stock exchange. In terms of section 85 of the Companies and Other Business Entities Act [Chapter […]
A Look into the Proposed Changes in the Insurance Bill, 2021
The Insurance Bill; which recently got a thumbs up from Cabinet, seeks to repeal and replace the current Insurance Act [Chapter 24:07]. The lobbyists for the Bill have highlighted that the major motive behind the Bill is to usher in best practices which have long been begged for in the insurance industry as well as […]
The African Continental Free Trade Area Agreement: A Step Closer Towards Achieving Integration
The African Continental Free Trade Area Agreement “AfCFTA” is an agreement amongst African Union member states who have signed and ratified the agreement, to create a single liberalized African market. It was approved by the 18th ordinary Session of Assembly of Heads of State and Government, held in Addis Ababa, Ethiopia in January 2012. Zimbabwe […]
What an investor needs to know about trading on the Victoria Falls Stock Exchange (VFEX)
WHAT IS THE VFEX? The Victoria Falls Stock Exchange (VFEX), a subsidiary of the Zimbabwe Stock Exchange (“ZSE”) established to kick start the Offshore Financial Services Centre (OFSC) earmarked for the special economic zone in Victoria Falls was established in 2020. Its trading currency is in United States Dollars. As such, dividends will be paid […]
NEWSFLASH: Extension of time for companies to re-register
The period within which all companies and private business corporations must re-register in terms of the new Companies and Other Business Entities Act has now been extended to 13th February 2023. Under the new the Companies Act, all companies and private business corporations were supposed to re-register by 13th February 2021 failing which they would […]
Global tax guide to doing business in Zimbabwe
Zimbabwe generally levies income tax on companies and individuals under the Income Tax Act [Chapter 23:06] in respect of income earned from sources within or deemed to be within Zimbabwe. A Capital Gains tax is also levied on gains made on sales or disposals of specified assets from a source within Zimbabwe. The Income Tax […]
New Year, New Law: An Analysis of the Consumer Protection Act
The Zimbabwe legislature has gazetted the Consumer Protection Act [Chapter 14:14], No. 5/2019 which seeks to offer more protection to consumers of goods and services in the market place and to eliminate unethical suppliers and improper business practices. This note highlights some of the noteworthy features of the Act. We point out sections of the […]
Major amendments to indigenisation laws
Zimbabwe has introduced amendments to its indigenisation legislation which has altered previous minimum shareholding requirements for businesses operating in reserved sectors.
COMESA Competition Regulation in Cross Border Transactions
Competition is defined as the effort of two or more companies acting independently to secure the business of a customer by offering the most favourable price or terms. In essence, competition is about out-smarting your opponent to win over the customer.
The Quick Guide to Getting An Investment Licence in Zimbabwe
All new foreign investments in Zimbabwe require an Investment License issued by the Zimbabwe Investment Authority (ZIA).