Bank lending rates creep up – AfDB

HARARE, September 23 (The Source) – Local banks have increased interest rates on individual borrowings between May and June this year, while lowering corporate rates after agreeing on a cap on fees and rates with the central bank early this year, the African Development Bank… Read More

Zimbabwe-China trade tops $1 billion

BULAWAYO, September 20 (The Source) – Trade between China and Zimbabwe topped $1 billion last year as the southern African country’s reliance on the emerging Asian giant grows, latest data shows. The latest statistics released by the Trade and Law Centre (Tralac) , a think-tank… Read More

Pelhams forecasts first half loss

HARARE, September 19 (The Source) – Pelhams Limited is expecting to post a loss in first half to September due to tight liquidity and subdued consumer spending. Addressing shareholders on Thursday, the company’s chief executive Middleton Chikowore said management anticipated the business to return to… Read More

Fertiliser shortage looms

By Chipo Musoko, HARARE, September 19 (The Source) – Zimbabwe faces a 200,000 tonnes fertiliser shortfall for the summer cropping season, with firms only managing to produce a third of total requirements due to liquidity constraints, an industry player has said. Zimbabwe Fertiliser Company (ZFC)… Read More