Insights – Hofisi Law

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Closing Notice and Agreement When Purchasing Businesses

January 28, 2025 by Godknows Hofisi in Business & Law

Introduction Mergers and acquisitions or acquisitions or disposals of businesses, particularly companies, are common as investors look for the dollar. In this article I share with you some documents used

Businesses’ Financial Distress or Insolvency

January 21, 2025 by Godknows Hofisi in Insolvency

Introduction This article is in addition to the many that I have written before on insolvency. In this article I look at the factors that may lead to financial distress

Advantages Of Voluntary Corporate Rescue Proceedings

Corporate Rescue

January 14, 2025 by Godknows Hofisi in Corporate Rescue

Introduction I have previously written several articles on insolvency practice covering both corporate rescue and liquidation. In this article I look at the advantages of voluntary corporate rescue proceedings versus

Corporate Rescue of Other Entities or Debtors

Corporate Rescue

January 7, 2025 by Godknows Hofisi in Corporate Rescue

Introduction In this article I look at corporate rescue by debtors or entities that are not companies. Many people are familiar with corporate rescue proceedings with respect to distressed companies.

Financial Considerations When Selling Properties

Financial Advisory

December 10, 2024 by Godknows Hofisi in Financial Advisory

Introduction Selling of properties by property holders occurs regularly as evidenced by activity in the real estate sector. There are important financial considerations to look at when making the decision

Payment Of Liquidation Costs and Creditors

December 3, 2024 by Godknows Hofisi in Business & Law

Introduction I have explained in my previous articles that liquidation involves the winding up of a company. In other words after the liquidation the business ceases to exist. In this

Factors Affecting Valuation of Shares or Businesses

November 26, 2024 by Godknows Hofisi in Business & Law

Introduction I have previously written many articles on valuation of shares or businesses. Valuation of shares or businesses is not scientific. It is subjective and involves making assumptions and judgements.

Common Disputes in Deceased Estates

Deceased Estates

November 19, 2024 by Godknows Hofisi in Deceased Estates

Introduction I have previously written many articles on the administration of deceased estates to assist readers. In this article I look at the common disputes encountered in the administration of

Administration And Distribution Accounts in Deceased Estates

Deceased Estates

November 12, 2024 by Godknows Hofisi in Deceased Estates

Introduction I have previously written many articles on the administration of deceased estates. I have explained that a person can die testate or intestate. When a person dies testate it

Duties Of Executors In Deceased Estates

Deceased Estates

November 5, 2024 by Godknows Hofisi in Deceased Estates

Introduction In the past I have written several articles on the administration of deceased estates. One of the key requirements in estate administration is the appointment of an executor. In

Deceased Estates and Farms on Offer Letters

Deceased Estates

October 28, 2024 by Godknows Hofisi in Deceased Estates

Introduction On several occasions I have been approached by families where their deceased parent, for example a father, had a farm allocated to him, through an offer letter, under the

Wills And Administration of Deceased Estates

Deceased Estates

October 22, 2024 by Godknows Hofisi in Deceased Estates

Introduction In the administration of deceased estates a person can die intestate (without a will) or testate (leaving behind a valid will). In this article I look at issues relating

Letters Of Administration in Deceased Estates

Deceased Estates

October 15, 2024 by Godknows Hofisi in Deceased Estates

Introduction Estate administration involves dealing with the estate of a deceased person. It entails handling the assets of and claims or liabilities against the estate. It is about the administration

Wills And Administration of Deceased Estates

Deceased Estates

October 7, 2024 by Godknows Hofisi in Deceased Estates

Introduction In the administration of deceased estates a person can die intestate (without a will) or testate (leaving behind a valid will). In this article I look at issues relating

About Shares in a Private Company

September 30, 2024 by Godknows Hofisi in Business & Law

Introduction Businesses are carried out through different forms of arrangements such as sole trader, partnerships, private business corporations (“PBC”), private companies or public companies. In the case of companies the

Notice Of Appearance to Defend

September 24, 2024 by Godknows Hofisi in Courts

Introduction In a summons matter or action legal proceedings a defendant is required to enter an appearance to defend after he or she has been served with summons. In this

Rescission Of Default Judgment

September 17, 2024 by Godknows Hofisi in Courts

Introduction In litigation it is common for a party to the legal proceedings to be in default of those court proceedings. A party may fail to file its papers, especially

Capital Gains Tax Clearance Certificate

September 10, 2024 by Godknows Hofisi in Business & Law

Introduction During the transfer of immovable property from the seller to the purchaser a number of documents are required by the Deeds office. These include the those listed below. In

Court Application for Stay of Execution

September 3, 2024 by Godknows Hofisi in Courts

Introduction According to various sources a stay of execution or latin “cesset execution” is a court order to temporarily suspend the execution of a court judgment or order. Execution itself

Constitution Of an Association

August 27, 2024 by Godknows Hofisi in Business & Law

Introduction The registration of associations to promote common interests of certain groups of people or organisations is common. In this article I look at a constitution of an association as

Understanding Court of Public Opinion

August 19, 2024 by Godknows Hofisi in Courts

Introduction In this article I wish to deal with what is loosely called the “court of public opinion”. For convenience in this article, I will remove the quotes. The opinion

Legal Strategies During Lawsuit

Civil litigation

August 13, 2024 by Godknows Hofisi in Civil litigation

Introduction When involved in a lawsuit or legal action one needs a legal strategy. A haphazard or random approach usually does not work. In a lawsuit or litigation one can

Managing Stress, Anxiety During Legal Action or Lawsuit

August 5, 2024 by Godknows Hofisi in Business & Law

Introduction During litigation or lawsuits litigants or the parties usually go through a lot of stress or anxiety. It is worse in criminal matters when the accused person faces the

Savings, Investments and Properties

July 29, 2024 by Godknows Hofisi in Business & Law

Introduction In this finance article I look at savings, investments and properties at personal level. I base the article largely on literature available on the internet and my own views.

Common Sources of Disputes in Commercial contracts

Commercial Arbitration

July 22, 2024 by Godknows Hofisi in Commercial Arbitration

Introduction Last week I attended the winter school held by the Institute of Chartered Accountants of Zimbabwe (ICAZ) in Victoria Falls where in addition to attending as a member of

Auditor And the Law

July 15, 2024 by Godknows Hofisi in Business & Law

Introduction Reports prepared by auditors are assigned significant probative or evidential value. It is therefore important for the auditor to have an appreciation of the possible use of his or

Using Experts in Disputes Over Valuation of Businesses, Shares

July 8, 2024 by Godknows Hofisi in Business & Law

Introduction Disputes over valuation of businesses or shares are common and will not go away for as long as business is done and money is to be made. Such disputes

Unjust Enrichment at Law

July 2, 2024 by Godknows Hofisi in Business & Law

Introduction In civil law it is not unusual for a party (plaintiff) to make a claim or raise allegations of unjust or unjustified enrichment by or against the other party

Locus Standi In Legal Proceedings

June 24, 2024 by Godknows Hofisi in Courts

Introduction In my article of 20 June 2024, I wrote about special pleas in legal proceedings. I explained that a special plea is defined as an objection on the basis

Special Pleas in Legal Proceedings

June 17, 2024 by Godknows Hofisi in Courts

Introduction Special pleas are raised as roadblocks in legal proceedings so that cases are not heard or decided on the merits. In this article I give some insights into the

Trust Accounting for Legal Practitioners in Zimbabwe Law Society Presentation on 13 June 2024

Tax Law & Advisory

June 14, 2024 by Godknows Hofisi in Tax Law & Advisory

Cause Of Action in Legal Proceedings

June 10, 2024 by Godknows Hofisi in Courts

Introduction The term “cause of action” is widely used in legal proceedings and has a special or technical meaning. It is important to understand it due to its significance in

Prescription Of Debts at Law

June 4, 2024 by Godknows Hofisi in Business & Law

Introduction The prescription of debts in Zimbabwe is governed by the Prescription Act (Chapter 8:11), hereinafter called the Prescription Act or the Act. Prescription of a debt can be explained

Deed of Donation

May 21, 2024 by Godknows Hofisi in Family Law

It is common for one person to donate assets to another.

Challenging Validity of a Will

May 14, 2024 by Godknows Hofisi in Family Law

In the administration of deceased estates there can be disputes over the validity of wills. In this article I look at the requirements for a valid will and how wills can be challenged at law

Freedom of Inheritance Through Valid Wills

May 7, 2024 by Godknows Hofisi in Family Law

A person dies testate if he or she leaves behind a valid will at the time of his or her death otherwise he or she is intestate. Where a person dies testate the deceased estate is dealt with in terms of the will.

Voluntary Liquidation of Solvent Companies

April 30, 2024 by Godknows Hofisi in Business & Law

Liquidation, which is the winding up of a business, can be voluntary or involuntary.

Benefits to Business for Supporting Government

April 23, 2024 by Godknows Hofisi in Business & Law

Government policies have a bearing on businesses.

Challenges in Disputes Over Valuation of Shares

April 15, 2024 by Godknows Hofisi in Business & Law

Parties may genuinely not appreciate what is involved in the valuation of shares.

Legal Health Check For Businesses

April 7, 2024 by Godknows Hofisi in Business & Law

A legal health check is essentially an audit or review of the legal affairs of a business. It is quite important but often overlooked by businesses until there is a problem.

Legal Due Diligence In Mergers And Acquisitions

April 2, 2024 by Godknows Hofisi in Business & Law

Due diligence is a review or assessment performed to confirm the presence or absence of certain factual issues under investigation.

Resolving Disputes on Valuation of Shares

March 25, 2024 by Godknows Hofisi in Business & Law

Introduction I have previously written articles on the valuation of shares and shareholding disputes. In this article I give some hints on possible approaches to consider when attempting to resolve

New Special Capital Gains Tax on Mining Title

March 17, 2024 by Godknows Hofisi in Mining

Introduction Due to the importance of mining in Zimbabwe in this article I look at the special capital gains tax (special CGT) on the transfer of mining title that was

Agreement Of Sale For Immovable Property

March 11, 2024 by Godknows Hofisi in Real Estate

Every day people buy or sell immovable properties such as residential houses, commercial or industrial properties for business or investment. They use agreements of sale to carry out these transactions.

Overview Of Arbitration Model Law

March 10, 2024 by Godknows Hofisi in Business & Law

I have written articles on arbitration or commercial arbitration in the past. In this article I look at the Model Law as provided for in the Arbitration Act (Chapter 7:15),

Arbitration Award Termination

March 10, 2024 by Godknows Hofisi in Business & Law

This is an additional article to the ones I have written before on arbitration. In this article I look at what is involved in the making of an arbitral award

Countering Fraud Over Title Deeds

February 20, 2024 by Godknows Hofisi in Real Estate

Based on press reports it appears to me that cases of alleged fraud over title deeds is on the increase. From those reported cases my understanding is that such cases

Arbitral Award And Termination Of Proceedings

February 12, 2024 by Godknows Hofisi in Business & Law

Introduction This is an additional article to the ones I have written before on arbitration. In this article I look at what is involved in the making of an arbitral

Arbitral Award, Termination of Proceedings

Commercial Arbitration

February 12, 2024 by Godknows Hofisi in Commercial Arbitration

This is an additional article to the ones I have written before on arbitration. In this article I look at what is involved in the making of an arbitral award

Arbitral Award and Termination of Proceedings

Commercial Arbitration

February 5, 2024 by Godknows Hofisi in Commercial Arbitration

Introduction This is an additional article to the ones I have written before on arbitration. In this article I look at what is involved in the making of an arbitral

Arbitration Over Commercial Disputes

January 30, 2024 by Godknows Hofisi in Business & Law

Introduction Commercial disputes are common and vary in nature and complexity. In simple terms a commercial dispute refers to disagreements over commercial arrangements or contracts. This is usually over business

Breach, Dispute Resolution In Contracts

Deal Structuring & Commercial Contracts

January 16, 2024 by Godknows Hofisi in Deal Structuring & Commercial Contracts

Introduction Breach and disputes in contracts including commercial contracts are common in everyday life. In this article I look at providing for breach and disputes in contracts or agreements. Breach

People Disqualified From Insolvency Practice

January 9, 2024 by Godknows Hofisi in Business & Law

Introduction I refer to my previous articles on corporate rescue in Zimbabwe. As explained in those articles corporate rescue in Zimbabwe is known by other terms such as “business rescue”

Understanding Court Applications In The High Court

January 2, 2024 by Godknows Hofisi in Business & Law

Introduction Civil legal proceedings are usually by way of action or applications. In the case of action proceedings most people know them to be initiated through summons and evidence is

Comparing Employment and Business

December 22, 2023 by Godknows Hofisi in Business & Law

Introduction Naturally there are fewer people in business than in employment. In most cases people venture into business from employment. I have listened to many discussions or even arguments over

About Commercial Law Services

December 18, 2023 by Godknows Hofisi in Business & Law

In very simple terms legal services refer to professional work done or services rendered by a legal practitioner, attorney or lawyer to a client.

Effective Implementation by Management

Business Advisory

December 12, 2023 by Godknows Hofisi in Business Advisory

It is common sense that if nothing is implemented nothing changes. It does not matter how brilliant your ideas might be. If they are not tried through implementation nothing changes.

Founding, Opposing and Answering Affidavits at Law

December 4, 2023 by Godknows Hofisi in Courts

Most people are familiar with lawsuit by way of action proceedings based on summons or application proceedings through court applications. There are court rules to be followed during litigation.

Advantages And Disadvantages of Joint Business Ownership

November 21, 2023 by Godknows Hofisi in Business & Law

Introduction There are various forms of businesses such as sole traders, sole practices, partnerships, private business corporation (PBC), private companies, public companies, etc. These types of businesses can conveniently be

Dangers During Transition from Employment to Business

Business Advisory

November 14, 2023 by Godknows Hofisi in Business Advisory

Introduction It is quite common that some people transition from employment to try business. Like many other situations in life some people succeed but some fail, for various reasons. In

Insolvency And Debt Restructuring

Corporate Rescue

November 7, 2023 by Godknows Hofisi in Corporate Rescue

Corporate rescue in Zimbabwe is known by other terms such as “business rescue” or in the past as “judicial management”.

Currency Risks in Contracts or Agreements

October 23, 2023 by Godknows Hofisi in Business & Law

Introduction Many readers have asked me to share some ideas on how to manage or mitigate currency risks through contracts. Others have asked me to write on how to minimise

Voluntary, Involuntary Company Liquidation

October 17, 2023 by Godknows Hofisi in Business & Law

Liquidation is the process of winding up a company. This is done by selling off the company’s assets and paying its creditors. If there is any residue it is then distributed to the company’s shareholders.

Term Sheets in Mergers and Acquisitions

October 9, 2023 by Godknows Hofisi in Business & Law

Introduction On 21 September 2023 I wrote an article titled “Term sheets in commercial transactions”. It was an introductory article in which I explained what a term sheet is. I

No Insurance Premium No Cover

October 3, 2023 by Godknows Hofisi in Business & Law

Introduction Last week I wrote an article titled “Insurance policy on credit”. In that article I looked at the Statutory Instrument 81 of 2023 known as Insurance (Amendment) Regulations, 2023

Insurance Policy On Credit

September 25, 2023 by Godknows Hofisi in Business & Law

Introduction Individuals and organisations take out insurance policies to mitigate against risks. These risks range from loss due to accident, fire, theft, and many others. So generally many people are

Term Sheets in Commercial Transactions

Deal Structuring & Commercial Contracts

September 19, 2023 by Godknows Hofisi in Deal Structuring & Commercial Contracts

Introduction It is established practice when negotiating business agreements or deals that parties first agree on a term sheet. A term sheet is essentially a brief document that outlines the

Loan Finance Versus Joint Venture

September 4, 2023 by Godknows Hofisi in Business & Law

Many times, businesspeople without adequate funding seek loans from financial institutions, friends or relatives.

Agreements Of Sale for Mining Businesses

August 21, 2023 by Godknows Hofisi in Business & Law

Introduction I have assisted many clients when they are selling or buying mining businesses. I also got requests from some readers to cover agreements for the sale of mining businesses

Warranties And Declarations in Property Sales

August 15, 2023 by Godknows Hofisi in Real Estate

Introduction On 29 June 2023 I wrote an article titled “Safeguards in agreements or contracts”. I explained that some of the important safeguards include the following: Warranties in agreements of

Public Companies Formalities During and After Formation.

August 8, 2023 by Godknows Hofisi in Business & Law

Introduction Last week on 3 August 2023, I wrote an article titled “Private company pre and post formation formalities”. I received positive feedback from any readers. Some asked me to

Private Company Pre and Post Formation Formalities

August 1, 2023 by Godknows Hofisi in Business & Law

In addition to the Companies and Other Business Entities Act (Chapter 24:31), (“the COBE Act” or “the Act”) one needs to be familiar with the Statutory Instrument 46 of 2020 on Companies and Other Business Entities (Pre – Formation and Post – Formation Formalities) Regulations, 2020 (“the regulations”) to understand pre-formation steps and post- formation formalities for private companies. This is quite important in business.

Joint Ventures on Farms Held Through Offer Letters

Deal Structuring & Commercial Contracts

July 18, 2023 by Godknows Hofisi in Deal Structuring & Commercial Contracts

Introduction It is common to find a person who is not a landholder of a farm looking for bigger land on which to carry out some farming business such as

Arbitration On Valuation of Company Shares

July 10, 2023 by Godknows Hofisi in Business & Law

Introduction I have written many articles on the valuation of companies and shares in the past. In this article I look at commercial disputes involving or requiring the valuation of

Inspection And Use of Copy Company Documents

July 4, 2023 by Godknows Hofisi in Business & Law

Introduction This article covers the following areas which are provided by for the Companies and Other Business Entities Act (Chapter 24:31), the “COBE Act” or “Act” of 2020 which repealed

Understanding Legal Opinions

June 20, 2023 by Godknows Hofisi in Business & Law

The use of legal opinions is very common. It is standard practice for clients to ask their legal practitioners to write to them expressing an expert legal opinion on a certain legal issue or matter.

Protection Of Property Interests During Corporate Rescue

Corporate Rescue

June 13, 2023 by Godknows Hofisi in Corporate Rescue

Introduction In this article I look at what the law says on the protection of property rights during corporate rescue proceedings. It is very easy to go against the law

Power Of Attorney Vs Board Resolution

June 6, 2023 by Godknows Hofisi in Business & Law

I have been requested to explain the difference between a power of attorney and a board resolution. These documents are used widely in business or ordinary day life.

Selling A Property Owned by a Company

May 22, 2023 by Godknows Hofisi in Business & Law

Introduction It is common to find an immovable property such as a residential, commercial or industrial property registered in the name of a company. There are different ways through which

General Versus Special Powers of Attorney

May 16, 2023 by Godknows Hofisi in Business & Law

Introduction In this article I explain the two types of powers of attorney. A power of attorney is a legal document that authorizes another person, called an agent, to act

Duration Of Company Corporate Rescue Proceedings

May 8, 2023 by Godknows Hofisi in Business & Law

Introduction From time to time, I receive inquiries on what the law says on the duration of corporate rescue proceedings. This comes from shareholders whose companies will be under or

Debt Recovery – Insufficient Documentation

May 1, 2023 by Godknows Hofisi in Business & Law

In this article I give some advice on how to handle debt recovery where there is insufficient or no documentation or evidence.

Deed Of Settlement at Law

April 24, 2023 by Godknows Hofisi in Business & Law

Introduction A Deed of Settlement (called “Deed” in this article) is a document widely used by parties in a legal dispute or litigation to resolve their dispute. The Deed is

Pension, Inflation and Options

Financial Advisory

April 18, 2023 by Godknows Hofisi in Financial Advisory

Introduction There is no doubt the topic on post-employment benefits in the form of pension is of interest to many people. Not only to the working class but their dependents

Corporate Rescue Proceedings and Debt Recovery

Corporate Rescue

April 10, 2023 by Godknows Hofisi in Corporate Rescue

Introduction I have been requested by some readers to explain the connection between corporate rescue proceedings and debt recovery. Put differently, the readers would like to understand how corporate rescue

Affected Persons in Corporate Rescue Proceedings

April 10, 2023 by Godknows Hofisi in Business & Law

According to the Act corporate rescue proceedings are meant to facilitate the rehabilitation of a company that is financially distressed. This will benefit affected persons who include the company’s creditors.

ZIMRA Interviews for Capital Gains Tax on Immovable Properties.

April 4, 2023 by Godknows Hofisi in Business & Law

Transactions involving the sale and purchase of immovable properties are quite common. At the end of the transaction a purchaser expects to get a deed of transfer (“title deed”) on the property in his or her name.

Capital Gains Tax on Business Acquisitions

March 20, 2023 by Godknows Hofisi in Business & Law

Introduction On 16 February 2023 I wrote an article titled “Understanding capital gains tax”. I explained capital gains tax (“CGT”) in general. In the current article I look at CGT

Key Skills in Administering Complex Deceased Estates

March 14, 2023 by Godknows Hofisi in Family Law

Introduction On 11 August 2022 I wrote an article titled “Managing deceased estates that own shares in companies”. In that article I pointed out that many times it happens that

The Law on Fraud and Theft

March 6, 2023 by Godknows Hofisi in Criminal Law

Businesses face the risk of fraud, theft or both from employees or third parties. If one reads stories under Crimes and Courts it is common to read about actual or alleged offences of fraud and theft.

General Powers and Duties of Corporate Rescue Practitioners

February 21, 2023 by Godknows Hofisi in Business & Law

Introduction As explained in my previous articles corporate rescue in Zimbabwe is known by other terms such as business rescue or in the past as judicial management. The proceedings are

Understanding Capital Gains Tax

Tax Law & Advisory

February 14, 2023 by Godknows Hofisi in Tax Law & Advisory

Introduction According to the Capital Gains Tax Act (Chapter 23:01), (“CGT Act” or “the Act”), as updated, capital gains tax (“CGT”) is a tax levied on the capital gain arising

Handling Tax Obligations Assessed by Zimra

Tax Law & Advisory

February 7, 2023 by Godknows Hofisi in Tax Law & Advisory

Introduction Businesses and individual tax payers may be liable to pay certain taxes to ZIMRA. Common taxes include Pay As You Earn (PAYE), Value Added Tax (VAT), Capital Gains Tax

Agenda For Shareholder Meetings

January 23, 2023 by Godknows Hofisi in Business & Law

Introduction I have previously written articles on shareholder meetings covering both Annual General Meetings (AGMs) and Extraordinary General Meetings (EGMs). In my article of 20 January 2023 titled “Agenda for

Agenda For A Board Meeting

Business Advisory

January 17, 2023 by Godknows Hofisi in Business Advisory

Every day there are people who are elevated to attend company board meetings in different capacities. Some attend as directors or company secretaries yet others attend by invitation for example senior managers who are not directors.

2023 Strategic Plans and Annual Budgets

January 3, 2023 by Godknows Hofisi in Business & Law

At the beginning of each year, it is traditional and necessary to have up to date strategic plans and annual budgets. In this article I make reference to the 2023 strategic plans and annual budgets.

Improving Personal Finances in the New Year

Financial Advisory

December 27, 2022 by Godknows Hofisi in Financial Advisory

Introduction Last week on Thursday 22 December 2022 I wrote an article titled “Festive season, back to school” in which I gave some ideas on how to manage personal finances

Festive Season and Back to School

Financial Advisory

December 20, 2022 by Godknows Hofisi in Financial Advisory

Introduction By now many businesses are on annual shutdown or have closed for the festive season which includes Christmas and the New Year holidays. After the festive period there is

Understanding Memorandum of Understanding (Mou)

December 13, 2022 by Godknows Hofisi in Business & Law

Introduction A Memorandum of Understanding or MOU is a commonly used document but at times confused with a contract or Memorandum of Agreement (“MOA”). In this article contract I explain

Managing Finances During Litigation

December 6, 2022 by Godknows Hofisi in Courts

ntroduction Many people and organisations face legal action from time to time. For organisations legal proceedings are normally civil in nature where for example a company is being sued by

Legal Capacity of Employees or Trade Unions in Court Applications for Corporate Rescue

Corporate Rescue

November 29, 2022 by Godknows Hofisi in Corporate Rescue

Introduction In previous articles I have explained that corporate rescue is regulated by the Insolvency Act (Chapter 6:07) of 2018, hereinafter (“the Act”). According to the Act corporate rescue means

Protection Given to Companies Under Corporate Rescue Proceedings

Corporate Rescue

November 21, 2022 by Godknows Hofisi in Corporate Rescue

Introduction I have written many articles on corporate rescue proceedings before. I have explained that corporate rescue is also known by other terms such as business rescue, judicial management, corporate

Companies Act on Conflict of Interest

November 14, 2022 by Godknows Hofisi in Business & Law

One cannot talk of good corporate governance and overlook conflict of interest, especially the need to avoid it or its full disclosure.

Companies Act on Conflict of Interest

November 14, 2022 by Godknows Hofisi in Business & Law

Introduction One cannot talk of good corporate governance and overlook conflict of interest, especially the need to avoid it or its full disclosure. In this article I look at what

Understanding Urgent Chamber Applications in the High Court

November 8, 2022 by Godknows Hofisi in Courts

Introduction The use of urgent chamber applications in the High Court is common in litigation. Such applications are made where an applicant considers the relief sought to be urgent. In

Understanding Acknowledgement of Debt

October 31, 2022 by Godknows Hofisi in Business & Law

An AOD is a document executed by a debtor in favour of a creditor wherein the debtor clearly and unequivocally acknowledges that he or she owes money to another person (a creditor).

Understanding Acknowledgement of Debt

October 31, 2022 by Godknows Hofisi in Business & Law

Introduction The use of an acknowledgement of debt (“AOD” for purposes of this article) is common practice in everyday life whether by organisations or individuals. It is common that a

Key Provisions in a Property Lease Agreement

October 25, 2022 by Godknows Hofisi in Real Estate

Introduction Leasing of immovable properties, whether as the landlord or tenant is quite common. This applies to different properties such as residential dwellings, commercial properties such as offices, industrial properties

Corporate Rescue Application – Legal Requirement for Service and Notification

Corporate Rescue

October 17, 2022 by Godknows Hofisi in Corporate Rescue

Introduction I have previously written on corporate rescue which is based on the Insolvency Act (Chapter 6:07), “the Insolvency Act” or “the Act”. According to section 121(1)(b) corporate rescue means

Contents Of Application Placing a Company Under Corporate Rescue

Corporate Rescue

October 10, 2022 by Godknows Hofisi in Corporate Rescue

Introduction In this article I look at the contents of an application to place a company under corporate rescue proceedings made in terms of the Insolvency Act (Chapter 6:07) of

Contents Of Application Placing a Company Under Corporate Rescue

Corporate Rescue

October 10, 2022 by Godknows Hofisi in Corporate Rescue

Introduction In this article I look at the contents of an application to place a company under corporate rescue proceedings made in terms of the Insolvency Act (Chapter 6:07) of

Using Proxies in Company Shareholder Meetings

October 3, 2022 by Godknows Hofisi in Business & Law

Introduction Introduction The use proxies at company annual general meetings (AGMs) or extraordinary general meetings (EGMs) is common practice in corporates. In this article I look at the law as

Replacing Lost Company Secretarial Documents

September 27, 2022 by Godknows Hofisi in Business & Law

Introduction I have previously written many articles on company law covering areas issues such as shares, directors, shareholders, meetings, key company secretarial documents, etc. In this article I address how

Factors Considered by Competition and Tariff Commission in Making Orders

September 20, 2022 by Godknows Hofisi in Business & Law

Introduction This article is addition to the two I wrote on “Competition Act and Implications on Mergers and Acquisitions”, 8 September 2022 and “Competition Act on restrictive practices”, 15 September

Competition Act on Restrictive Practices

September 13, 2022 by Godknows Hofisi in Business & Law

Introduction In my previous article of 8 September 2022 titled “Competition Act and implications on mergers and acquisitions” I covered how the Competition Act (Chapter 14:28) (“the Competition Act” or

Competition Act and Implications on Mergers and Acquisitions

September 6, 2022 by Godknows Hofisi in Business & Law

Introduction In the world of business mergers and acquisitions are quite common. Businesses may combine to become one through mergers or one business may acquire one or more others through

Change Of Company Name, Use of Assumed Or “Trading As” Name

August 30, 2022 by Godknows Hofisi in Business & Law

Introduction Quite often in business companies and other business entities change their names for various reasons. Companies may also use assumed or “trading as” names. The latter situation is quite

Company Secretary – Functions, Qualifications, Minutes

August 23, 2022 by Godknows Hofisi in Business & Law

Introduction Many people wonder what the functions of a company secretary are. This is addressed by the Companies and Other Business Entities Act (Chapter 24:31), “COBE Act” or “the Act”.

Application By Creditor for Liquidation of a Company

August 16, 2022 by Godknows Hofisi in Business & Law

Introduction Under insolvency practice it is common to find a company under either corporate rescue proceedings or in liquidation, in terms of the Insolvency Act (Chapter 6:07) or “the Act”).

Managing Deceased Estates That Own Shares in Companies

Deceased Estates

August 9, 2022 by Godknows Hofisi in Deceased Estates

Introduction Many times it happens that at the time a person dies he or she owns shares in a company. At times the shares owned are quite significant. The deceased

Reviving Manufacturing Company Through Corporate Rescue Proceedings

Corporate Rescue

August 1, 2022 by Godknows Hofisi in Corporate Rescue

Introduction I have previously written on corporate rescue proceedings (“corporate rescue”). Corporate rescue is also known by other terms such as business rescue or judicial management. According to Section 121

Using A Company to Own Immovable Properties

July 26, 2022 by Godknows Hofisi in Real Estate

Introduction There are many ways individuals can hold properties that they buy. Some of the ways include: Reasons for using a company to register an immovable property There are many

Safeguards When Buying Second Hand Assets

July 22, 2022 by Godknows Hofisi in Business & Law

Introduction Transactions involving sale of second hand assets are quite common. Such second hand or used physical assets include movable and immovable assets. Movable assets include motor vehicles, plant and

Land Development Projects and Corporate Rescue

Corporate Rescue

July 12, 2022 by Godknows Hofisi in Corporate Rescue

Introduction I have previously written on corporate rescue proceedings (“corporate rescue”). Corporate rescue is also known by other terms such as business rescue or judicial management. According to Section 121

Replacing A Deceased Company Director

July 3, 2022 by Godknows Hofisi in Business & Law

Introduction I have received many inquiries on how a vacancy on a company’s board of directors may be filled in the event of the death of a director. I explain

New Marriages Act and Protecting Personal Assets

June 27, 2022 by Godknows Hofisi in Family Law

Introduction The new Marriages Act (Chapter 5:15), hereinafter called the “Marriages Act” became law at the end of May 2022. According to the Act its purpose of the Act is:

Negotiating High Selling Price in Mergers, Acquisitions.

Deal Structuring & Commercial Contracts

June 20, 2022 by Godknows Hofisi in Deal Structuring & Commercial Contracts

Introduction In last week’s article titled “Negotiating low purchase price in mergers, acquisitions” I shared some ideas on how a prospective investor or purchaser of a business or shares can

Negotiating Low Purchase Price in Mergers and Acquisitions

June 12, 2022 by Godknows Hofisi in Business & Law

Introduction I have previously written many articles on valuation of business or shares to assist investors and business executives. In this article I give insights into how a prospective investor

Pitfalls Of Transacting Without Valuation of Shares

June 6, 2022 by Godknows Hofisi in Business & Law

Introduction Many times I have been asked by clients to draft agreements for the sale or acquisition of shares. In many such instances by the time the parties to the

Due Diligence When Buying Company Owned Property

May 30, 2022 by Godknows Hofisi in Business & Law

Introduction Further to the previous articles I have written on due diligence when buying immovable properties this one focusses on due diligence when buying a property registered in the name

Corporate Rescue Proceedings Initiated by Shareholders

Corporate Rescue

May 22, 2022 by Godknows Hofisi in Corporate Rescue

Introduction After my article of Thursday 19 May 2022 titled “Application for corporate rescue proceedings by employees” I got many inquiries. I was requested to explain when shareholders can cause

Application For Corporate Rescue Proceedings by Employees

Corporate Rescue

May 16, 2022 by Godknows Hofisi in Corporate Rescue

Introduction This article gives insights into how employees of a company can cause their employer to be placed under corporate rescue proceedings. Voluntary versus involuntary corporate rescue proceedings As I

Liquidation Approach to Valuation of Business

May 9, 2022 by Godknows Hofisi in Business & Law

Introduction Following my article of Thursday, 5 May 2022 titled “Valuation of company shares for deceased estates” I received many inquiries from readers. I was requested to explain the liquidation

Valuation Of Company Shares for Deceased Estates

May 2, 2022 by Godknows Hofisi in Family Law

Introduction I have previously written on the valuation of business or shares. I strongly recommend that you read my article of 28 October 2021 titled “Understanding asset valuation and business

Compromise Between Company and Its Creditors

April 26, 2022 by Godknows Hofisi in Business & Law

Introduction The Insolvency Act (Chapter 6:07), or the Act provides for a compromise between a company and its creditors. Such a compromise provides financial relief to the company. Compromise provided

Legal Remedies for Aggrieved Shareholders, Piercing of the Corporate Veil

April 18, 2022 by Godknows Hofisi in Business & Law

Introduction Many a time I have come across some businesspeople complaining about situations where they are being disadvantaged, for example where minority shareholders are being overlooked in key decisions. In

Passing And Registration of Company Special Resolutions

April 12, 2022 by Godknows Hofisi in Business & Law

Introduction This article addresses a very technical area in the governance of companies. Members or shareholders of companies hold annual general meetings (AGMs) or extraordinary general meetings (EGMs) at which

Minimising Disputes In Owner Managed Jointly Owned Businesses

April 4, 2022 by Godknows Hofisi in Business & Law

Introduction I have previously written about disputes in business focussing on shareholders and how to deal with such potential or actual disputes. In this article I focus on how to

Managing Risks When Transacting in Existing Shares

March 28, 2022 by Godknows Hofisi in Business & Law

Introduction In my previous article of 13 January 2022 titled “Agreements for buying or selling existing shares” I explained the key provisions expected in such agreements. In this article I

Recent Changes in Currency Laws

March 21, 2022 by Godknows Hofisi in Business & Law

Introduction In this article I provide a summary of the recent changes in currency laws in Zimbabwe. The article is highly summarized due to space considerations. Summary of recent laws

Voluntary Versus Involuntary Corporate Rescue

Corporate Rescue

March 14, 2022 by Godknows Hofisi in Corporate Rescue

Introduction Corporate rescue in Zimbabwe is known by other terms such as business rescue or in the past as judicial management. The proceedings are regulated by the Insolvency Act (Chapter

Voluntary Versus Involuntary Corporate Rescue

March 14, 2022 by Godknows Hofisi in Business & Law

Corporate rescue in Zimbabwe is known by other terms such as business rescue or in the past as judicial management.

How Creditors Benefit from Corporate Rescue

Corporate Rescue

March 7, 2022 by Godknows Hofisi in Corporate Rescue

Introduction As explained in my previous articles corporate rescue in Zimbabwe is known by other terms such as business rescue or in the past as judicial management. The proceedings are

Rights Of Auditors According to COBE Act

March 1, 2022 by Godknows Hofisi in Business & Law

Introduction In my previous article of Thursday, 24 February 2022, titled “COBE Act on auditing” I explained key legal requirements on the audit report in terms of the Companies and

COBE Act on auditing

February 21, 2022 by Godknows Hofisi in Business & Law

Introduction This article is aimed at giving insights into what the Companies and Other Business Entities Act (Chapter 24:31) (or the “COBE Act”) says on auditing of companies. The COBE

Companies And Other Business Entities Act on Accounting Records and Financial Statements

February 14, 2022 by Godknows Hofisi in Business & Law

Introduction This article gives some insights into the requirements of the Companies and Other Entities Act (Chapter 24:31) (or “the COBE Act”) of 2020 on financial accounts of companies. This

Companies and Other Business Entities Act on accounting records and financial statements

February 14, 2022 by Godknows Hofisi in Business & Law

This article gives some insights into the requirements of the Companies and Other Entities Act (Chapter 24:31) (or “the COBE Act”) of 2020 on financial accounts of companies.

Dealing With Breach of Contract

February 7, 2022 by Godknows Hofisi in Business & Law

Introduction In the Herald of 3 February 2022 I wrote an article titled “Guarding against breach of contract”. I received numerous inquiries thereafter with some readers requesting me to address

Managing Finances During Property Development Projects

February 1, 2022 by Godknows Hofisi in Business & Law

Real estate development Real estate development, also known as land or property development encompasses the following areas: For simplicity in this article we will call all the above activities “property

Guarding Against Breach of Contract

Deal Structuring & Commercial Contracts

January 30, 2022 by Godknows Hofisi in Deal Structuring & Commercial Contracts

Introduction Contractual disputes involving natural or juristic persons are prevalent. Such disputes emanate from alleged breach of contracts and may be handled at different levels such as: Breach in a

Effect Of Corporate Rescue Proceedings on Shareholders, Directors

Corporate Rescue

January 18, 2022 by Godknows Hofisi in Corporate Rescue

Introduction As explained in my previous articles corporate rescue in Zimbabwe is known by other terms such as business rescue or in the past as judicial management. The proceedings are

Agreements For Buying or Selling Existing Shares

January 11, 2022 by Godknows Hofisi in Business & Law

Introduction On 21 October 2021 I wrote an article titled “Transacting in new vs existing shares”. In that article I explained the difference between the issue or allotment of new

Agreements For Buying or Selling Existing Shares

January 11, 2022 by Godknows Hofisi in Business & Law

Introduction On 21 October 2021 I wrote an article titled “Transacting in new vs existing shares”. In that article I explained the difference between the issue or allotment of new

Finance And Legal Skills in Corporate Rescue Proceedings

January 2, 2022 by Godknows Hofisi in Business & Law

Introduction On 20 August 2020 I wrote an article titled “Factors influencing corporate rescue”. Further, I have been asked by many MBA and PhD candidates to respond to their research

Reviving And Growing Mining Industry

December 20, 2021 by Godknows Hofisi in Business & Law

The mining industry in Zimbabwe presents significant opportunities for national growth and prosperity. Government’s target to take the mining industry to US$ 12 billion per year by 2023 is noble

Understanding New Company Secretarial Forms

December 13, 2021 by Godknows Hofisi in Business & Law

Introduction The new Companies and Other Business Entities Act (Chapter 24:31) (“COBE Act” or “the Act”) became effective in February 2020 repealing and replacing the Companies Act (Chapter 24:03) and

Functions Of the Surveyor General

December 5, 2021 by Godknows Hofisi in Business & Law

Cadastral system Land registration system in Zimbabwe follows the cadastral system. According to Kaufmann (1999) a cadastre can be defined as a methodically arranged public inventory of data concerning all

Verbal Instructions and the Law

November 30, 2021 by Godknows Hofisi in Business & Law

Introduction To be forewarned is to be forearmed! This article aims at giving insights into verbal instructions and legal implications should something go wrong. Ways instructions may be given Depending

Personal Financial Planning to Secure Future

Financial Advisory

November 25, 2021 by Godknows Hofisi in Financial Advisory

Introduction Over a year ago a very close friend sent me a presentation reportedly prepared by Prudential on personal financial planning (“presentation”). After going through it I wished I had

Personal Financial Planning for Sports People

November 17, 2021 by Godknows Hofisi in Business & Law

Introduction Over a year ago a very close friend sent me a presentation reportedly prepared by Prudential on personal financial planning. After going through it I wished I had seen

Managing Legal Risks in Business

November 15, 2021 by Godknows Hofisi in Business & Law

Introduction Legal is one of the external factors affecting a business according to the PESTEL (political, economic, social, technological, environmental, legal) model. Legal risk not well managed can manifest through

Financial Modelling for Business

November 8, 2021 by Godknows Hofisi in Business & Law

Introduction Financial modelling involves building a model or abstract representation of a real world financial situation. The financial model so developed can be used to forecast a business’ future financial

Using Management Accounts in Business

November 2, 2021 by Godknows Hofisi in Business & Law

Introduction This simplified article looks at how management accounts can be used to improvement business management and performance. Field of accounting Accounting essentially involves gathering, processing, production and communication of

Understanding Asset Valuation and Business Valuation

October 24, 2021 by Godknows Hofisi in Business & Law

Introduction The difference between asset valuation and business valuation is often confused to the extent of being escalated to a dispute including even litigation. It is quite common to come

Transacting In New Shares Versus Existing Shares

October 13, 2021 by Godknows Hofisi in Business & Law

Introduction I write to explain the difference between the issue or allotment of new shares compared to the exchange by shareholders of existing shares or shares already issued. I will

How To Structure Partnership Agreements

October 10, 2021 by Godknows Hofisi in Business & Law

Introduction A partnership is essentially a business arrangement whereby people with common business interests come together to form a partnership to carry on business for mutual benefit. Unlike a company

Urban Water Crisis Needs Urgent Attention

October 3, 2021 by Godknows Hofisi in Business & Law

Introduction On 11 March 2021 I wrote an article titled “Damaged urban roads need urgent attention”. At that time I did not realise Government already had an excellent plan to

Reviving A Company Under Corporate Rescue Proceedings

September 26, 2021 by Godknows Hofisi in Business & Law

Introduction Corporate rescue is also known by other terms such as business rescue or judicial management. According to Section 121 of the Insolvency Act (Chapter 6:07), hereinafter (“the Act”) of

Options To Address Creditors During Corporate Rescue

September 20, 2021 by Godknows Hofisi in Business & Law

Introduction Corporate rescue is also known by other terms such as business rescue or judicial management. According to Section 121 of the Insolvency Act (Chapter 6:07), hereinafter (“the Act”) of

Managing Legal Risk During Corporate Rescue

Corporate Rescue

September 6, 2021 by Godknows Hofisi in Corporate Rescue

Introduction In my article of 20 August 2020 titled “Factors affecting corporate rescue” I explained some of the factors affecting the effectiveness of corporate rescue in Zimbabwe. For the benefit

Registration Of Certain Mining Rights

August 31, 2021 by Godknows Hofisi in Business & Law

Introduction This article is pursuant to those I have written in the last few weeks. It covers registration of the following mining rights in terms of the Mines and Minerals

About Tribute Agreements In Mining

August 24, 2021 by Godknows Hofisi in Mining

Introduction This article seeks to give readers insights into mining tribute agreements as these are quite common in the mining sector and are regulated by the Mines and Minerals Act

Unbundling, Partial Privatisation of Fidelity Printers

August 10, 2021 by Godknows Hofisi in Business & Law

About Fidelity Printers and Refiners Fidelity Printers and Refiners (Private) Limited (“FPR”) is a 100% owned subsidiary of the Reserve Bank of Zimbabwe (“RBZ”). It was incorporated in 1978. At

About Mining Leases in Zimbabwe

August 9, 2021 by Godknows Hofisi in Mining

Introduction Mining leases are covered in Part VIII, being sections 135-157 of the Mines and Minerals Act (Chapter 21:05) (or “the Act”) while special mining leases are covered in Part

Gold Trade Act Unpacked

August 2, 2021 by Godknows Hofisi in Business & Law

Introduction In my article of 8 July 2021 titled “An overview of key mining laws in Zim” I explained that the Mines and Minerals Act (Chapter 21:05) is the principal

Mines And Minerals Act Unpacked

July 19, 2021 by Godknows Hofisi in Business & Law

Introduction The Mines and Minerals Act (Chapter 21:05) (“the Act”) is the principal Act regulating the mining industry in Zimbabwe. There are several regulations and other Acts that apply. In

About Viability of Mining Sector

July 12, 2021 by Godknows Hofisi in Mining

Introduction For most entrepreneurs and executives in Zimbabwe the moment mining is mentioned they pay closer attention. This is because the mining sector presents many opportunities especially as the businesses

Prospecting For Minerals

July 7, 2021 by Godknows Hofisi in Mining

Vesting of mineral resources Mineral resources in Zimbabwe are vested in the President. The principal Act is the Mines and Minerals Act (Chapter 21:05). There are other Acts and regulations

Overview Of Key Mining Laws in Zimbabwe

July 5, 2021 by Godknows Hofisi in Business & Law

Introduction This article provides an overview of some of the key mining laws in Zimbabwe. A review of various sources including the website for the Ministry of Mines and Mining

Minerals Mined in Zimbabwe

June 28, 2021 by Godknows Hofisi in Mining

Introduction This article seeks to give an overview of the minerals found in Zimbabwe. The country’s mining industry is poised for growth with the Government planning annual export earnings of

Exchange Control Implications on Business Arrangements

June 21, 2021 by Godknows Hofisi in Business & Law

Introduction This article is further to my previous ones titled “Overview of Exchange Control Regulations”, “Key Exchange Control Regulations on Exports”, “Key Exchange Control Regulations on Imports” and “Implications of

Exchange Control Regulations on Investments and Loans

June 15, 2021 by Godknows Hofisi in Business & Law

Exchange control regulatory framework in Zimbabwe In my previous articles on key exchange controls I explained that the exchange control regulatory framework in Zimbabwe includes the following: Key exchange control

Key Exchange Control Regulations on Exports

May 31, 2021 by Godknows Hofisi in Business & Law

Introduction This article is further to the one I wrote on 27 May 2021 titled “Overview of Exchange Control Regulations”. In that previous article I listed some measures, such as

Exchange Control Regulations in Zimbabwe

May 21, 2021 by Godknows Hofisi in Business & Law

Introduction This simplified and introductory article seeks to give an overview of the Exchange Control regulations in Zimbabwe. This is an area of interest to many organisations and individuals. Exchange

Business Valuation Using Projected Future Cashflows

May 10, 2021 by Godknows Hofisi in Business & Law

Introduction In 2020 I wrote an article on how businesses are valued. I explained that businesses are valued to address situations such as acquisitions, mergers, shareholding, divorce, admission of new

Safeguards During Liquidation of Pension Funds

May 3, 2021 by Godknows Hofisi in Business & Law

Introduction In my article of 29 April 2021 titled “Liquidation of Pension Funds” I covered the basics on the liquidation of pension funds in Zimbabwe. I explained that the liquidation

Safeguards During Liquidation of Pension Funds

May 3, 2021 by Godknows Hofisi in Business & Law

Introduction In my article of 29 April 2021 titled “Liquidation of Pension Funds” I covered the basics on the liquidation of pension funds in Zimbabwe. I explained that the liquidation

Liquidation Of Pension Funds

Financial Advisory

April 26, 2021 by Godknows Hofisi in Financial Advisory

Introduction The liquidation or dissolution of pension funds in Zimbabwe is governed by the Pension and Provident Funds Act (Chapter 24:09) or “the Act”. Consultations with the Insurance and Pensions

Voting At Meetings of Creditors During Liquidations

April 19, 2021 by Godknows Hofisi in Business & Law

Introduction In simple terms liquidation refers to the winding up of an insolvent debtor entity (juristic person such as a company) or an insolvent estate of a natural person. It

Creditors’ Claims in Liquidations

April 12, 2021 by Godknows Hofisi in Insolvency

Introduction In an insolvent estate that is being liquidated a creditor has to prove his or her claim in order to be considered for payment. Many people may be familiar

First And Special Meetings of Creditors in Liquidations

April 5, 2021 by Godknows Hofisi in Business & Law

Introduction In simple terms liquidation refers to the winding up of an insolvent debtor entity (juristic person) or an insolvent estate of a natural person. It usually involves the sale

Protecting Interests of Minority Shareholders

March 30, 2021 by Godknows Hofisi in Business & Law

Introduction Many times I have been asked by desperate clients to intervene when their rights as minority shareholders are at threat. This article seeks to explain some of the remedies

About Share Capital of Private Companies

March 22, 2021 by Godknows Hofisi in Business & Law

Introduction This articles touches on areas of interest to many entrepreneurs and executives. It is about ownership of a private company. Section 2 of the Companies and Other Business Entities

Pitfalls To Avoid in Board and Shareholders Meetings

March 11, 2021 by Godknows Hofisi in Business & Law

Company meetings Meetings constitute an integral part of a company’s governance systems in that they are used to plan, solve problems, exploit opportunities, manage risks and to co-ordinate company business,

Damaged Urban Roads Need Urgent Attention

March 9, 2021 by Godknows Hofisi in Business & Law

Importance of roads Recently I read an article by my former employer, the World Bank. The article explains that roads are the arteries through which the economy pulses. By linking

Rights Of Employees During Corporate Rescue of Insolvent Companies

Corporate Rescue

March 1, 2021 by Godknows Hofisi in Corporate Rescue

This article seeks to explain the effect of corporate rescue on company employees and the rights of those employees during the corporate rescue proceedings. Corporate rescue Corporate rescue is also

Dealing With Problematic Property Transactions

February 21, 2021 by Godknows Hofisi in Business & Law

Property law The area of property law is of interest to many individuals and organisations. Quite often property transactions go wrong caused by the buyer, seller or unforeseen hurdles. Challenges

Hierarchy Of Company Meetings

February 21, 2021 by Godknows Hofisi in Business & Law

Introduction There are different types of meetings held by or in a company from time to time. These meetings are explained below. Shareholders meetings Shareholders or owners of a company

Due Diligence to Verify Property Ownership

February 8, 2021 by Godknows Hofisi in Business & Law

Introduction I have previously written an article on carrying out a due diligence on properties on sale. Subsequently I received many inquiries some specifically on land under development and others

Legal Remedies Against Defaulting Land or Property Developers

January 25, 2021 by Godknows Hofisi in Real Estate

Introduction From to time aspiring property owners, especially home owners, experience challenges with land or property developers who do not complete development projects on time to the prejudice of the

Common Challenges on Land or Immovable Properties

January 5, 2021 by Godknows Hofisi in Real Estate

Introduction This article looks at common challenges associated with land or immovable properties. Some of the challenges end up being escalated to the courts where they are eventually resolved through

Process Of Acquiring a Property and Obtaining Title Deeds

December 15, 2020 by Godknows Hofisi in Real Estate

Introduction Many people and organisations are interested in acquiring properties in the form of vacant pieces of land and build or properties that are already built. This could be to

Importance Of Trust in Business and Employment

December 7, 2020 by Godknows Hofisi in Business & Law

Introduction Trust is a key consideration in business, employment or life generally. In simple terms trust means belief in the reliability, truth or ability of someone or having confidence or

Determining Shareholding or Profit-Sharing Ratio

November 2, 2020 by Godknows Hofisi in Business & Law

It is common to find joint shareholders in a company, at least two partners in a partnership, joint venture or other business arrangements. This article focusses on how to determine

Commodity Trading Models

October 20, 2020 by Godknows Hofisi in Business & Law

What to supply It is inevitable to come across people discussing what to supply in order to make some money. The truth of the matter is that there are many

Financing An Order or Tender

October 11, 2020 by Godknows Hofisi in Business & Law

This subject is of interest to many entrepreneurs and business executives. Many businesses, especially small to medium enterprises look forward to improving their situations through trade. At times they have

Business Of Land and Property Development

October 5, 2020 by Godknows Hofisi in Business & Law

Many people and organizations are interested in investing in properties. For individuals, one might be interested in acquiring a property to stay in or to invest in so that he/

Raising Funding Through Private Equity

September 27, 2020 by Godknows Hofisi in Business & Law

This article seeks to explain how a private company can tap into private equity (PE) in raising funding for its business. Many times financial advisors are approached by shareholders and

Preparing For Independent External Audits

September 22, 2020 by Godknows Hofisi in Business & Law

Independent external auditors Independent external auditors are engaged to audit an entity’s books of accounts and express an opinion on whether the audited financial statements fairly present, in all material

Key Shareholder Documents in a Company

September 7, 2020 by Godknows Hofisi in Business & Law

This article explains important company documents namely shareholders’ agreement, Articles of Association, Sale of shares agreement, Return of Allotment (CR11, formerly CR2), share transfer document, share certificate and register of

Role Of Zimbabwe Investment and Development Agency (Zida)

August 29, 2020 by Godknows Hofisi in Business & Law

The Zimbabwe Investment and Development Agency (“ZIDA”) was established in terms of the Zimbabwe Investment and Development Agency Act (Chapter 14:37), (“ZIDA Act”) or (“the Act”). The Act was published

Consideration And Adoption Of Corporate Rescue Plan

Corporate Rescue

August 12, 2020 by Godknows Hofisi in Corporate Rescue

Corporate rescue also known by other terms such as business rescue or judicial management is done in terms of the Insolvency Act (Chapter 6:07), (hereinafter “the Act”) of 2018. It

Effect Of Corporate Rescue on Shareholders, Directors and Employees of a Company

Corporate Rescue

August 12, 2020 by Godknows Hofisi in Corporate Rescue

Corporate Rescue Corporate rescue is also known by other terms such as business rescue or judicial management. According to Section 121 of the Insolvency Act (Chapter 6:07) (hereinafter “the Act”)

Essentials Of Corporate Rescue Plan in Insolvency

August 11, 2020 by Godknows Hofisi in Business & Law

Corporate rescue also known by other terms such as business rescue or judicial management is done in terms of the Insolvency Act (Chapter 6:07), (hereinafter “the Act”) of 2018. It

Factors Influencing Effectiveness of Corporate Rescue Proceedings

Corporate Rescue

August 1, 2020 by Godknows Hofisi in Corporate Rescue

This article is simplified and not exhaustive. Corporate rescue is also known by other terms such as business rescue or judicial management. According to Section 121 of the Insolvency Act

Allotment Of Shares and Share Transfers

July 20, 2020 by Godknows Hofisi in Business & Law

An investor becomes a shareholder or member in a company normally through share allotment or share transfer. Section 95 of the Companies and Other Business Entities Act (Chapter 24:31) or

Shares And Share Certificates

July 19, 2020 by Godknows Hofisi in Business & Law

This articles deals with a company’s shares and share certificates to comply with the new Companies and Other Business Entities Act (Chapter 24:31) or (“the Act”) which replaced the Companies

Shareholders And Directors in a Company

July 19, 2020 by Godknows Hofisi in Business & Law

This articles seeks to explain a seemingly simple area which however is not understood by many people. With respect, many people tend to confuse the role and rights of directors

Company Annual Returns

July 19, 2020 by Godknows Hofisi in Business & Law

Many companies, especially private companies are in default as regards the preparation and filing of annual returns. This article seeks to give insights into the filing of annual returns based

Gold Buying as Agent of Fidelity Printers and Refiners

June 17, 2020 by Godknows Hofisi in Business & Law

In discussing business opportunities more often than not people discuss business lines that generate foreign currency. Mining features prominently especially gold mining as well as gold buying and selling. This

Tips On Business Valuations

May 15, 2020 by Godknows Hofisi in Business & Law

Businesses are valued to address acquisitions, mergers, shareholding disputes, divorce litigation, admission of new partners, estate administration, etc. Business valuation is judgemental and can be complex. The estimated values can

Sharing Of Financial Gains or Losses in Deals

Deal Structuring & Commercial Contracts

May 14, 2020 by Godknows Hofisi in Deal Structuring & Commercial Contracts

Deals A deal, in simple terms, can be described as an agreement entered into by two or more people or parties establishing a business arrangement for mutual financial gain. Such

Length Of Notice for Calling Shareholder Meetings.

May 13, 2020 by Godknows Hofisi in Business & Law

Types of shareholder meetings Members, commonly known as shareholders, of a company meet through what are called general meetings. During such meetings the directors report to the shareholders and resolutions

Protection Of Minority Shareholders

May 13, 2020 by Godknows Hofisi in Business & Law

Minority shareholders may be prejudiced by majority shareholders due to lack of voice. The Companies and Other Entities Act (Chapter 24:31), (“the Act”), provides for the protection of minority shareholders

Annual General Meetings and Extraordinary General Meetings

May 12, 2020 by Godknows Hofisi in Business & Law

Shareholders A company’s shareholders or members are the owners of the business. They appoint directors, also called the board of directors. The board plays an oversight role by, inter alia,

How To Resolve Shareholder Disputes

May 12, 2020 by Godknows Hofisi in Business & Law

Origins of shareholder disputes Disputes by co-shareholders in a business or partners in a partnership or joint venture are common. Differences by shareholders, if not resolved on time, may degenerate

Presumption Of Regularity and Estoppel in Contracts

Deal Structuring & Commercial Contracts

May 12, 2020 by Godknows Hofisi in Deal Structuring & Commercial Contracts

Contracts A valid contract or agreement, depending on its type, for example of sale, addresses aspects such as the parties and their capacity to act, consensus, offer and acceptance, goods

Understanding Property Ownership Under Title Deeds, Cession

May 10, 2020 by Godknows Hofisi in Real Estate

Owning an immovable property, especially a family home, is a dream for many people. Even investors generally consider properties as secure long term investments. The most common arrangements for holding

Obtaining Title Deeds for Properties Held Under Cession

May 10, 2020 by Godknows Hofisi in Business & Law

This article is in addition to the one explaining properties held under title deeds or cession. It gives pointers on how a holder of cession rights over a property may

Managing Personal Financial Emergencies and Related Stress

April 28, 2020 by Godknows Hofisi in Business & Law

Many people could be going through financial emergencies and related stress made worse by the COVID-19 pandemic which has slowed economic activity down. Its effects may continue for some time

Determining Price In A Deal

April 27, 2020 by Godknows Hofisi in Business & Law

A deal and contractual provisions A deal, in simple terms, can be described as an agreement entered into by two or more people or parties establishing a business arrangement for

How To Acquire a House

April 16, 2020 by Godknows Hofisi in Real Estate

At the heart of many Zimbabweans is the desire to own a house. This is a dream for people of various ages and walks of life. This is considered one

Tips On Making Bank Loan Application

April 11, 2020 by Godknows Hofisi in Business & Law

Bank loans, also known as borrowing facilities are a long established way of financing a business for both working capital and capital expenditure if the tenure is short term or

Loan Agreements

April 11, 2020 by Godknows Hofisi in Business & Law

Bank borrowings, also known generally as loans are a long established way of financing a business. When an organisation or individual borrows from a financial institution such as a bank

Preparing Financial Budgets

April 5, 2020 by Godknows Hofisi in Business & Law

Every year end there is anxiety when the Minister of Finance presents the national budget proposal in Parliament for the following or ensuing year. If approved this budget proposal becomes

Managing Business Working Capital

Business Advisory

April 4, 2020 by Godknows Hofisi in Business Advisory

During periods of economic uncertainty a business should prioritise its survival. In the current situation there is global uncertainty brought about by the COVID-19 pandemic. Some of the challenges emanating

Covid 19 Induced Contractual Risks

March 31, 2020 by Godknows Hofisi in Business & Law

Globally the COVID-19 pandemic is wreaking havoc in many ways. These include loss of life, reduced economic activity and pressure on the health delivery system. On the business front local

Covid-19 And the Way Forward for Business

March 31, 2020 by Godknows Hofisi in Business & Law

I am sure we are all now familiar with COVID-19 and its global disruptions and destruction. No doubt the pandemic is causing untold suffering and loss of precious lives globally.

Contract Of Sale

March 3, 2020 by Godknows Hofisi in Business & Law

Contract of sale A contract of sale, also known as sale and purchase agreement, is an agreement for the purchase by one party, known as the buyer or purchaser, of

Deal Structuring

Deal Structuring & Commercial Contracts

March 2, 2020 by Godknows Hofisi in Deal Structuring & Commercial Contracts

A deal, in simple terms, can be described as an agreement entered into by two or more people or parties establishing a business arrangement for financial gain. A deal can

Contract Of Sale

February 26, 2020 by Godknows Hofisi in Business & Law

Contract of sale A contract of sale, also known as sale and purchase agreement, is an agreement for the purchase by one party, known as the buyer or purchaser, of

February 21, 2020 by Godknows Hofisi in Business & Law

What is a due diligence? Due diligence is common practice in the business world and comes in various scopes. This article seeks to give some insights into a due diligence

February 21, 2020 by Godknows Hofisi in Business & Law

Joint venture In a joint venture (“JV”) two or more parties, usually investors or existing businesses, join hands for purposes of carrying a business for mutual benefit. A joint venture

Deal Structuring & Commercial Contracts

February 20, 2020 by Godknows Hofisi in Deal Structuring & Commercial Contracts

A lease is an agreement or contractual arrangement whereby one party, known as the lessor, leases out an asset, for example an immovable property, to another party, known as the

Safeguarding Individual and Family Assets and Investments

February 10, 2020 by Godknows Hofisi in Business & Law

One way or the other we all have assets or investments, regardless of the form or value. I have read, listened to or been asked to advise on how best

Safeguarding Assets and Investments

January 15, 2020 by Godknows Hofisi in Business & Law

Many people have assets or investments of different forms or values. Of major interest are immovable properties and shareholding in businesses. Immovable properties may include the matrimonial or family home,

How To Manage Debt

January 14, 2020 by Godknows Hofisi in Business & Law

Debt, in simple terms, is a sum of money that is owed by one party, a debtor or borrower, to another, a creditor or lender. There could be other terms

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