HARARE, August 23 (The Source) – NMB Holdings Limited on Wednesday reported a 35 percent increase in after-tax profit in the six months to June from $2.6 million in the prior year to $3.6 million despite an 8 percent drop in gross income. Total income… Read More
HARARE, August 21 (The Source) – Arise, an investment company formed by the Norwegian Investment Fund (Norfund), Netherlands Development Fund (FMO) and Dutch commercial bank Rabobank has taken a nearly 18 percent stake in zimbabwean bank NMBZ Holdings. The transactions effectively consolidates Norfund and FMO’s… Read More
HARARE, April 26 (The Source) – Life assurance premium income dropped by 6 percent to $81,4 million in the first quarter to March from $88,1 million reported in the same period last year, the latest report by the Insurance and Pension Commission (IPEC) shows.
HARARE, August 17 (The Source) – State-owned mobile operator, Netone, in collaboration with First Mutual Life (FML), on Thursday launched a low cost funeral policy supported by a $10 million BancABC facility.
HARARE, August 17 (The Source) – Zimre Holdings Limited (ZHL) says it has started negotiations over the disposal of some of its assets, likely including the 30.03 percent stake in NicozDiamond to state-controlled pension fund, the National Social Security Authority (NSSA).
HARARE, August 17 (The Source) – Mortgage lender CABS says a total 200 houses under the Budiriro housing project have been purchased through the rent to buy scheme since it was introduced last year.
HARARE, August 16 (The Source) – State-owned Agricultural Development bank of Zimbabwe (Agribank) reported a profit of $2,18 million in the six months to June from $2,16 million recorded in the comparable period last year on increased income.
HARARE, August 10 (The Source) – First Mutual Holdings Limited (FMHL) is seeking shareholder approval to raise $17,25 million through a rights issue to finance the acquisition of a 80,92 stake in Zimbabwe’s largest short-term insurer Nicoz,Diamond.
HARARE, August 9 (The Source) – ZB Holdings reported a 38 percent increase in net profit from $5,9 million to $8,2 million in the six months to June driven by a jump in transaction revenue.
HARARE, August 4 (The Source) – Non-life insurers reported a 60 percent increase in after tax profit from $2.39 million to $3.83 million in the quarter to March, driven by an increase in gross premiums written (GPW) and a reduction in operational expenses, a report… Read More
HARARE, August 4 (The Source) – MBCA Bank’s net profit more than doubled to $2,7 million in the six months to June from $1,2 million achieved in the comparable period last year, driven by an increase in non-interest income.
HARARE August 3 (The Source) – Zimbabwe’s largest financial group, CBZ Holdings on Thursday reported an after tax profit of $12 million in the six months to June which is largely flat when compared to $11,9 million achieved in the same period last year. Net… Read More
HARARE, August 3 (The Source) – Internet and mobile based transactions reached $1,56 billion in May, nearly double from $814 million in January driven by massive uptake of the electronic payments. “This has gone a long way at reducing reliance on hard cash by business… Read More
HARARE, August 1 (The Source) – Deposit taking microﬁnance institution, GetBucks says its $15 million Medium Term Note will now be placed privately by way of a tap issue following slow uptake of the initial offer which opened in May.
HARARE, July 31 (The Source) – The funeral assurance industry’s after tax profit for the first quarter to March increased 56 percent to $2.5 million compared to $1.63 million in the same quarter last year, largely on the back of a drop in claims and… Read More