HARARE, January 29 (The Source) – Micro-financier, Untu says its mobile-based mid term note was oversubscribed by 73 percent, generating $1,752 million, nearly double its $1 million target.
HARARE, December 11 (The Source) – The Zimbabwe National Chamber of Commerce (ZNCC) says nearly half of the informal sector players engage in corrupt activities to sustain their businesses, showing the extent of graft in the economy.
HARARE, October 11 (The Source)- Zimbabwe’s tax agency has this year registered 14,000 small to medium enterprises (SMEs) with the small businesses contributing about 25 percent to the fiscus, an official said on Wednesday. SMEs minister, Sthembiso Nyoni told a press conference on Wednesday that… Read More
HARARE, July 21 (The Source) – Like Psychology Maziwisa trying to fill potholes with mud in peak rainy season in Highfield, glorifying the informal market is a poor attempt at covering up failure. Over the past week, debate has raged over Maziwisa’s claim that his… Read More
HARARE, June 26 (The Source) – About 67 percent of loans issued by the Small and Medium Enterprises Development Corporation (SMEDCO) loans have not been recovered in the seven years to December 31, 2016, and the ministry sought to avoid accounting for the money, the… Read More
HARARE, April 27 (The Source) – Old Mutual Zimbabwe on Thursday said adjusted operating profit for the quarter to March 31 was above target but marginally below last year, supported largely by life business and banking arm, CABS, according to chief executive, Jonas Mushosho He told… Read More
HARARE, April 12 (The Source) – The Movable Property Security Interest Bill has gone through a second reading in the National Assembly, as Zimbabwe moves towards the use movable assets such as livestock, motor vehicles, inventory and accounts receivable as collateral to for bank loans.… Read More
HARARE, April 11 (The Source) – State-run pension fund, the National Social Security Authority (NSSA) expects its voluntary pension scheme for the informal sector to be running by year end, an official said. The scheme would have benefits that include a retirement pension, survivor’s… Read More
HARARE, March 15 (The Source) – Financial group CBZ Holdings says it has invested $156 million in small and medium-sized enterprises (SMEs) since dollarisation in 2009, with a current loan book of $37 million. “Since dollarisation we have put an excess of $156 million into… Read More
HARARE, January 25 (The Source) – The Standard Association of Zimbabwe (SAZ) says it will this year target training small-scale enterprises (SMEs), now a key driver of Zimbabwe’s economy, to invest in quality and ensuring that their products meet international standards for possible export. Government… Read More
HARARE, October 27 (The Source) – Small to medium enterprise (SMEs) will be allowed to use movable assets as surety to increase access to funding under a new policy, vice president Emmerson Mnangagwa said on Thursday. Mnangagwa said SMEs make up 70 percent of Zimbabwe’s… Read More
HARARE, August 19 (The Source) – State owned bank Agribank says it will increase its SME loan book to $6 million from the current $4 million on the back of increased growth of microfinance activities in its branches around the country. Chief executive, Sam Malaba… Read More
HARARE, July 12 (The Source) – Zimbabwe’s biggest retail bank, CBZ is in the process of securing lines of credit to the tune of $20 million for on lending to small to medium enterprises (SMEs). Though SMEs dominate Zimbabwe’s economic landscape, it is estimated that… Read More
HARARE, June 17 (The Source) – Integrated financial services group Old Mutual Zimbabwe on Friday announced plans to construct a mall which will house small scale businesses and informal traders in Harare’s city centre. Small to medium enterprises and informal trading have taken centre stage… Read More
HARARE, April 6 (The Source) – The Reserve Bank of Zimbabwe (RBZ) says the rising rate of defaults recorded by microfinance institutions (MFI’s) in the country poses a threat to the sector which has witnessed growth in terms of outreach and performance. The non-performing loans… Read More