By Almot Maqolo, HARARE, October 20 (The Source) – The Deposit Protection Corporation (DPC) says it is ready to pay out $4.2 million to creditors and depositors of Tetrad Investment Bank.
HARARE, October 13 (The Source) – Malawi-based First Merchant Bank ( FMB) has received regulatory approvals to acquire an effective 42,7 percent shareholding in Barclays Bank Zimbabwe, completing its takeover of the bank.
By Yeukai Musara, HARARE,October 12 (The Source) – Zimre Holdings Limited (ZHL) has called off plans to sell off its shareholding in insurance firms in NicozDiamond and Fidelity Life Assurance, citing increased uncertainty in Zimbabwe’s financial system.
By Ray Chipendo, HARARE, October 6 (The Source) – All investments involve an element of risk. The risk component is ostensibly behind the volatility in Zimbabwe’s currency markets.
HARARE, October 5 (The Source) – Zimbabwe’s tax agency on Thursday said it surpassed its September revenue target of $326,49 million by 14,34 percent on increased tax compliance.
HARARE, September 29 (The Source) – Deposit taking microﬁnance institution, GetBucks on Friday reported a 20,6 percent increase in after tax profit to $3,6 million in the full year to June from $3 million in the previous year on increased interest income. Total income increased… Read More
VICTORIA FALLS, September 28 (The Source) – Reserve Bank of Zimbabwe deputy governor Kupukile Mlambo has proposed that the country introduces more bond coins than notes into the local market to curb high circulation of bond notes in the informal market. Unlike the bond notes,… Read More
HARARE, September 25 (The Source) – Old Mutual is trading three times higher on the Zimbabwe Stock Exchange compared to its primary listing on London Stock exchange (LSE), indicating that local assets are overvalued as punters seek to maximise value in Zimbabwe’s currency chaos.
HARARE, September 22 (The Source) – Zimre Holdings recorded a profit of $2,7 million from January to June 2017 compared to $200,000 in the same period last year driven by an improved performance of its reinsurance and general insurance units.
HARARE, September 21 (The Source) – The National Social Security Authority’s (NSSA) $18 million deal to recapitalize Cold Storage Commission (CSC) will go ahead after the High Court approved a scheme of arrangement between the meat processor and its creditors, an official has said.
HARARE, September 14 (The Source) – The central bank is set to meet bankers over foreign currency allocations following claims by business that banks are not prioritising the productive sector. In the wake of a deepening foreign exchange shortage that has seen Zimbabwe accumulate… Read More
HARARE, September 13 (The Source) – First Mutual Life (FML) reported a 63 percent increase in after tax profit in the six months to June from $2,6 million last year to $4,3 million driven by high returns from investment securities. FML chief executive, Douglas Hoto… Read More
HARARE, September 11 (The Source) – Masawara Plc reported a 57 percent increase in after tax profit to $3,6 million in the six months to June from $2,3 million in the comparable period last year.
HARARE, September 7 (The Source) – Microfinance institutions say the move by the central bank to curb interest charges on lendings has hit their operations hard, with the majority of MFIs struggling due to the high cost of money. In March this year, the Reserve… Read More
HARARE, September 6 (The Source) – Zimbabwe’s foreign currency receipts rose 6,6 percent to $3,2 billion in the eight months to August from $3 billion in the comparable period last year, buoyed by mineral earnings, according to central bank governor, John Mangudya.