HARARE, February 8 (The Source) – Zimbabwe’s largest ferrochrome miner, Zimasco on Thursday announced that it had come out of judicial management after nearly two years.
HARARE, December 13 (The Source) – AfrAsia Bank Zimbabwe says it will not be able to pay its creditors this year due to ongoing legal proceedings and an acute shortage of money on the market, which have delayed liquidation of the collapsed bank.
By Plaxedes Sibanda, HARARE, March 22 (The Source) – Shangani Energy Exploration says is in talks with government to approve the renewal of its grants worth $780 million which will enable it to source funds to start work on a gas project and a power… Read More
HARARE, February 1 (The Source) – The Deposit Protection Corporation has put assets of the collapsed AfrAsia Bank Zimbabwe under auction to recover creditors money but said cash shortages were affecting the liquidation process. Liquidator Reggie Saruchera of Grant and Thornton on Wednesday said a… Read More
By Chipo Musoko, HARARE, July 17 (The Source) – Shareholders and creditors of the struggling manufacturing firm, Cairns Holding have voted in favour of its takeover by private equity firm, Takura Capital after approving its bid for the 63 percent shareholding previously held by the… Read More
By Chipo Musoko, HARARE, July 15 (The Source) – Private equity firm, Takura Capital will know on Friday if its bid to take over the 63 percent shareholding in former listed concern, Cairns Holdings previously held by the central bank is successful after creditors voted to… Read More
By Chipo Musoko, HARARE, June 16 (The Source) – Foods manufacturer Cairns Holdings has been given a nod by the High Court to enter into a scheme of arrangement with its creditors after securing from an unidentified investor to inject $30 million into the troubled… Read More
By Chipo Musoko, HARARE, May 27 (The Source) – Creditors of the former listed steel engineering firm, Gulliver Consolidated on Wednesday voted to dispose of its assets worth $5,3 million after the company, which has been under final administration for over a year, failed to… Read More
By Chipo Musoko, HARARE, May 14 (The Source) – Plastic and steel products maker, Phoenix Consolidated which is currently under judicial management, recorded a turnover of $8 million last year compared to $2 million when the company was placed under administration nearly two years ago.… Read More
By Chipo Musoko, HARARE, May 13 (The Source) – Creditors of the troubled foundry company Apex Holdings, which has now been placed under provisional liquidation by the High Court on Wednesday voted to dispose of its assets, mainly buildings worth $9 million to recover part… Read More
By Chipo Musoko, HARARE, April 8 (The Source) – Zimbabwe’s largest commercial bank, CBZ, which is owed $4,5 million by a defunct cotton ginning firm, Insing Investments on Wednesday voted to save the company from liquidation after the judicial manager said the company could be… Read More
By Chipo Musoko, HARARE, March 3 (The Source) – Struggling former Anglo American Plc ferrochrome producer, Zimbabwe Alloys, produced nearly 4,000 tonnes of high carbon ferrochrome in 2014 after engaging a Chinese firm to recover chrome from its dumps, The Source has established. The firm, which was… Read More
By Chipo Musoko, HARARE, January 20 (The Source) – Production at food processor Blue Ribbon Industries has improved since the company resumed operations in June last year, with volumes seen higher in the first quarter this year due to high demand of milled products, an… Read More
By Chipo Musoko, HARARE, October 20 (The Source) – Ferrochrome producer Zimbabwe Alloys has recovered 150 tonnes of metal from its dumps after an unnamed Chinese firm commenced recovery last month, while talks with a potential investor to inject $50 million fresh capital into the business will… Read More
Chipo Musoko, HARARE, August 20 (The Source) – Former Anglo American Plc ferrochrome producer, Zimbabwe Alloys, has engaged an unnamed Chinese firm to recover chrome from its dumps while talks are underway with some potential investors to inject fresh capital into the business, the judicial… Read More