HARARE, December 5 (The Source) – CFI Holdings acting executive Timothy Nyika has thrown in the towel as the fight for control of the agroindustrial group between major shareholders intensifies.
By Yeukai Musara, HARARE,October 12 (The Source) – Zimre Holdings Limited (ZHL) has called off plans to sell off its shareholding in insurance firms in NicozDiamond and Fidelity Life Assurance, citing increased uncertainty in Zimbabwe’s financial system.
HARARE, September 22 (The Source) – Zimre Holdings recorded a profit of $2,7 million from January to June 2017 compared to $200,000 in the same period last year driven by an improved performance of its reinsurance and general insurance units.
By Simbarashe Zishiri, HARARE, July 21 (The Source) – Agro-industrial group CFI Holdings on Thursday traded at 31,05 cents, 41 percent above Stalap’s minority offer price of 22 cents, raising the possibility of a bidding war among shareholders defending their interests in the agro-industrial group.… Read More
HARARE, May 4 (The Source) – Restructuring conglomerate Zimre Holdings Limited (ZHL) will consolidate its regional operations under an entity to be listed in Botswana, as it continues its recovery following its removal from Unites States sanctions list early this year, chief executive Stanley Kudenga told… Read More
HARARE, April 28 (The Source) – Zimre Holdings narrowed its loss by 90 percent to $2,2 million for the full-year to December, from $23,1 million recorded in the preceding year on increased business retention and cost containment measures. “The improvement was mainly due to increased… Read More
HARARE, March 29 (The Source) – Zimre Holdings is set to make a mandatory offer to compulsorily buy out minority shareholders in CFI after it raised its shareholding in the company to 41,03 percent, said company secretary Panganayi Hare in a statement. Zimre Holdings through… Read More
HARARE, January 13 (The Source) – Insurance company Zimre Holdings has been removed from United States sanctions list, US Treasury announced on Thursday. The United States government imposed financial sanctions on President Robert Mugabe, his family and senior officials as well as government-related businesses in… Read More
HARARE, December 7 (The Source) – State-run pension fund, National Social Security Authority (NSSA) is set to make a mandatory offer to compulsorily buy out minority shareholders in NicozDiamond after it raised its shareholding in the insurer to 44,85 percent last month. NSSA bought 56.6… Read More
HARARE, June 22 (The Source) – Zimre Holdings on Wednesday reported a 46 percent growth in operating profit to $2,2 million for the first quarter to March driven by a surge in its reinsurance business and lower business costs. Gross profit grew 89 percent to… Read More
By Bernard Mpofu, HARARE, January 28 (The Source) – Reinsurance group Zimre Holdings Limited sees growth in its local and Mozambique businesses after shareholders approved a $15 million rights offer to boost the group’s underwriting capacity, group chief executive officer Albert Nduna said on Wednesday.… Read More
HARARE, January 5 (The Source) – Zimre Holdings is seeking to raise $15 million through a rights issue to boost the underwriting capacity of its reinsurance business, the group announced on Monday. ZHL will seek shareholder approval at an extraordinary general meeting scheduled for January… Read More
HARARE, December 15 (The Source) – Zimre Holdings says it has reached an agreement to dispose of 49 percent of its Malawi subsidiary, United General Insurance Company (UGIC), to its associate NicozDiamond for nearly $1,3 million as it starts selling off non-performing assets and non-core… Read More
HARARE, November 3 (The Source) – Baobab Reinsurance, a wholly owned subsidiary of Zimre Holdings (ZHL) is seeking to raise $17 million through borrowing and selling off non-core assets after a high number of defaults left the firm struggling to honour claims. Group chief executive… Read More
HARARE, September (The Source) – Zimre Holdings registered an after tax loss of $ 113,600 for the six months to June compared to an upturn of $2.3 million in the previous year weighed down by a loss incurred by the group’s agro-industrial associate. Revenues were… Read More