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
An employee fills a vehicle with petrol at a fuel station in New Delhi June 25, 2010. REUTERS/Mukesh Gupta/Files
HARARE, June 16 (The Source) – Brick maker Willdale Limited’s net loss widened to $380,564 in the six months to March from $146,575 loss recorded in the comparable period last year owing to damaged brick furnaces following the incessant rains experienced in the period. “Although… Read More
HARARE, June 15 (The Source) – Zimbabwe resources group RioZim is in talks with a potential investor who has capacity to fund its Sengwa thermal power project near Gokwe, an official said on Thursday. The group has an ambitious plan to build a 2,400 megawatts… Read More
HARARE, June 14 (The Source) – The liquidator of Altfin Life Assurance says creditors should expect to recover a quarter of their claims if he sells off the company’s building. Altfin was liquidated in September last year, with Phibion Gwatidzo appointed its liquidator. The company… Read More
HARARE, June 14 (The Source) – First Mutual Holdings’ net income for the five months to May jumped by 44 percent to $4,36 million, spurred by an increase in investment income. The Zimbabwe Stock Exchange has enjoyed a steady run since November last year. In… Read More
By Kuda Chideme HARARE, June 14 (The Source) – The Insurance and Pensions Commission (IPEC) says it will go ahead with plans to float a $50 million bond aimed at financing the development of the country’s irrigation infrastructure. Zimbabwe is on a campaign to upgrade… Read More