HARARE, September 8 (The Source) – Zimbabwe will next month commence repatriation of sale proceeds and dividends for foreign investors on the Zimbabwe Stock Exchange (ZSE), following establishment of the country’s Portfolio Investment Fund (PIF). Reserve Bank of Zimbabwe (RBZ) governor John Mangudya yesterday said… Read More
HARARE, August 31 (The Source) – From inside what used to be the commentary box, high above what is left of the sports field at Torwood Stadium, one can look across to the pile of rust that was once one of Africa’s largest steel factories.… Read More
HARARE, August 20 (The Source) – The Zimbabwe Stock Exchange (ZSE) market capitalisation hit its highest point since dollarisation in 2009 of $6,05 billion as local investors continue to seek refuge in equities to escape currency woes. The ZSE last recorded a market capitalisation above… Read More
HARARE, August 9 (The Source) – Old Mutual Zimbabwe group’s after tax profit jumped seven-fold to $89,4 million in the six months to June from $12,5 million in the comparable period last year mainly due to an increase in investment income from non-banking activities, chief… Read More
HARARE, August 7 (The Source) – AIM-listed junior miner, Premier African Minerals says it has discovered more lithium deposits at its Zulu Mine in south central Zimbabwe. The Zulu lithium project near Fort Rixon, has an estimated 20.1 million tonnes resource base grading 1.06 percent… Read More
HARARE, August 7 (The Source) – Finance Minister Patrick Chinamasa on Monday said government would allow local authorities with sound financial management systems in place to issue bonds and raise finance for infrastructural development. Zimbabwe has 92 local authorities, which Chinamasa said did not have… Read More
HARARE, August 7 (The Source) – The Zimbabwe Stock Exchange (ZSE) has experienced capital flight during the year to July 31, as foreign sales amounting to $60,9 million outweighed foreign purchases of $33,5 million, resulting in a net capital outflow of $27,4 million. Participation on… Read More
VICTORIA FALLS, August 4 (The Source) – Teams of Indian and Turkish investors are in Zimbabwe seeking investment and joint venture opportunities with local companies, mostly targeted at the Special Economic Zones, officials say. About seven Indian tech companies attended this year’s Confederation of Zimbabwe… Read More
The Source News Agency is looking for interns to join its Harare-based editorial team. This is an excellent opportunity for prospective financial journalists to work with industry leading journalists. The contract period is for at least six months and the successful candidates will report to… Read More
HARARE, July 24 (The Source) – Zimbabwe’s Civil Protection Department, tasked with responding to natural disasters, says it struggles to react to nature’s travails because of poor funding from the government and has so far received only $120,000 for the year.
HARARE, July 21 (The Source) – Zimbabwe’s banking sector deposits continue to grow but loans and advances dropped as banks remain cautious about lending in the poorly performing economy. Presenting the Mid-Term budget review on Thursday, finance minister Patrick Chinamasa said total banking sector deposits… Read More
HARARE, July 18 (The Source) – Zimbabwe Manpower Development Fund (ZIMDEF) recorded a deficit of $386,678 in 2016 compared to a surplus of $6,5 million in 2015, which it blamed on bad debts amounting to $3 million by mainly state enterprises and local authorities.
HARARE, July 13 (The Source) – The State owned, Central Mechanical and Engineering Department CMED) is owed close to $25 million by the Zimbabwe government and the Zimbabwe Electoral Commission (ZEC) for car rentals as far back as 2013, compromising its service delivery, according to… Read More
BULAWAYO, July 5 (The Source) — Zimbabwe imported clothing and footwear worth $20 million in the first five months of the year, latest data from the Zimbabwe National Statistics Agency (Zimstat) shows, as local industry called for tighter controls on imports. The imports of clothing… Read More
HARARE, June 30 (The Source) – FBC Holdings says it is awaiting central bank approval to open a reinsurance unit offshore to service its foreign insurance business to avert delays in settling external claims. Zimbabwe is battling an acute shortage of dollars, leading to delays… Read More