HARARE, June 23 (The Source) – Fidelity Life Assurance on Friday said its total income stood at $8,4 million against the budget of $12,3 million in the five month period to May 31, but expects new products and insurance business to improve its financial performance… Read More
HARARE, June 21 (The Source) – Shareholders of the deposit taking microﬁnance institution, Getbucks Zimbabwe on Wednesday approved the name change to GetBucks Microfinance Bank Limited as it seeks to expand its product offering. “The change in name has been necessitated by the change in… Read More
HARARE, June 20 (The Source) – State-run pension fund, National Social Security Authority (NSSA) has moved to consolidate its insurance portfolio via a deal which will see First Mutual Limited (FML) acquiring a controlling stake in Zimbabwe’s largest short-term insurer, NicozDiamond. NSSA is the anchor… Read More
HARARE, June 20 (The Source) – The Agricultural Bank of Zimbabwe (Agribank) has set up a $10 million facility aimed at promoting horticulture production in the country. The facility has an annual interest rate of up to 10 percent and has a tenor of up… Read More
HARARE, June 19 (The Source) – Zimbabwe’s annual broad money supply grew by 22,67 percent in April to $6,2 billion, largely driven by an increase of 31,22 percent in transferable deposits, latest data from the central bank has shown. However, negotiable certificates of deposits (NCD)… Read More
HARARE, June 16 (The Source) – Tendai Biti, opposition doyen, top lawyer and former Finance Minister, and Kudzai Chipanga, a Zanu PF rabble rouser who believes his leader is an angel of God, have more in common than they would ever admit. Last week, it… Read More
The Securities and Exchange Commission of Zimbabwe (SECZ) says it will soon introduce online trading and reporting of securities transactions and investments for the capital markets to promote financial inclusion and deepen local capital markets. SECZ chief executive, Tafadzwa Chinamo told business leaders at the… Read More
By Simbarashe Zishiri, HARARE, June 14 (The Source) – Zimbabwe’s largest mobile operator, Econet continues to leverage on broadband and mobile transactions growth to protect its topline against a background of waning voice and SMS revenues owing to the downside presented by over-the-top (OTT) services.… Read More
HARARE, June 13 (The Source) – Zimbabwean investment group, Brainworks Capital says it plans to list on the Johannesburg Stock Exchange (JSE) later this year, with an Initial Public Offer (IPO) that seeks to raise about $25 million set for next month. The Mauritius-domiciled Brainworks… Read More
HARARE, June 12 (The Source) – State owned Agricultural Development bank of Zimbabwe (Agribank) reported a profit of $1,8 million for the five months to May, over three times the budget, driven by Treasury Bills interest income.
HARARE, June 12 (The Source) – South Africa’s Alexander Forbes Group Holdings has acquired Zimbabwe’s largest independent actuarial firm, African Actuarial Consultants (AAC).
HARARE, June 2 ( The Source) — Barclays Bank PLC says the sale of its majority shareholding in its local unit to Malawi’s First Merchant Bank (FMB) will reduce its risk weighted assets by £292m ($376 million). The British bank also said that the sale… Read More
Barclays will sell shares worth $2.83 billion in Barclays Africa Group, the bank said on Thursday, increasing the size of the planned stake sale due to investor appetite and marking a completion of its planned sell down. In Zimbabwe, the bank signed a binding agreement… Read More
HARARE, May 31 (The Source) – The People’s Own Savings Bank (POSB) has reported a net profit of $2,34 million for the first quarter to March 31, driven by higher mobile transactions. Chief executive Admore Kandlela said at the bank’s annual general meeting that the… Read More
HARARE, May 24 (The Source) – Zimbabwe Revenue Authority (Zimra) commissioner Gershem Pasi, who has been on suspension since last year, has quit the tax agency, its chairperson Willia Bonyongwe said on Wednesday. Pasi, together with five other top executives, were sent on forced leave… Read More