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
HARARE August 7 (The Source) – The Environmental Management Agency (EMA) says state- owned mining companies usually start operating without proper regulatory approval, in defiance of the Environment Management Act. The revelation by EMA comes days after the High Court barred state owned Zimbabwe Consolidated… Read More
HARARE, August 6 (The Source) – The Zimbabwe Stock Exchange industrial index advanced 2,49 percent to close the week on 207,09 points, as local investor appetite for stocks continues to drive the market to new highs. The mining index also gained 12,94 percent to settle… Read More
HARARE, August 4 (The Source) – President Robert Mugabe on Friday signed into law the Public Procurement and Disposal of Public Assets Act, which paves way for the establishment of a regulatory body to oversee state procurement. The new law repeals the Procurement Act and… Read More
HARARE, August 4 (The Source) – MBCA Bank’s net profit more than doubled to $2,7 million in the six months to June from $1,2 million achieved in the comparable period last year, driven by an increase in non-interest income.
HARARE, August 3 (The Source) – Presenting his latest monetary policy statement on Wednesday, central bank governor John Mangudya looked like a runner who had just done the Gutu Half Marathon in mid-October.
HARARE August 3 (The Source) – Zimbabwe’s largest financial group, CBZ Holdings on Thursday reported an after tax profit of $12 million in the six months to June which is largely flat when compared to $11,9 million achieved in the same period last year. Net… Read More
MUTARE, August 3 (The Source) – The Zimbabwe Consolidated Diamond Company (ZCDC) says it is yet to receive the High Court order barring it from mining in the Chiadzwa diamond fields with immediate effect until it has been granted an Environmental Impact Assessment (EIA) certificate… Read More
HARARE, August 2 (The Source) – Zimbabwe’s central bank says it will print additional bond notes worth $300 million in an effort to ease biting cash shortages, stoking fears that the country could return to the era of money printing and hyperinflation.
HARARE, August 2 (The Source) – Zimplats reported an 11 percent increase in revenue to $143,5 million in the quarter to June from $128,9 million in the same quarter last year, driven by a 6 percent increase in platinum group metals (4E) sales volumes.
HARARE, August 1 (The Source) – The High Court of Zimbabwe on Tuesday ordered the state-owned Zimbabwe Consolidated Diamond Company (ZCDC) to stop diamond mining activities in Chiadzwa with immediate effect until it has been granted an Environmental Impact Assessment (EIA) certificate.
HARARE, August 1 (The Source) – Deposit taking microﬁnance institution, GetBucks says its $15 million Medium Term Note will now be placed privately by way of a tap issue following slow uptake of the initial offer which opened in May.
HARARE, August 1 (The Source) – The Zimbabwe Stock Exchange industrial index advanced 3,71 percent in July to 203,25 points, its highest for over three and half years, driven by the gains in most heavyweights. The mining index eased 0,5 percent to close at 69,79… Read More
HARARE, July 31 (The Source) – The funeral assurance industry’s after tax profit for the first quarter to March increased 56 percent to $2.5 million compared to $1.63 million in the same quarter last year, largely on the back of a drop in claims and… Read More