Business

HARARE City Council (HCC) has reportedly established an investigation team into activities surrounding the management of markets. According to insiders, the investigation which comprises councillors within the informal sector committee and auditors will look at the income expected to have been received since 2009. [GoogleAd] The investigation comes as Harare Mayor Herbert Gomba sent out…

FIRST Capital Bank Limited registered 23 percent growth with a net profit of $24,3 million in the year ended December 2018 compared to the $19,8 million achieved in 2017. The bank, formerly known as Barclays Bank before undergoing a name change last year, achieved a strong performance during the period under review resulting in basic…

BULAWAYO Rainbow Hotel (BRH) which operates under the Rainbow Tourism Group (RTG) has finally opened its doors to the public after two-and-a-half months of renovations which cost $2,5 million. The hotel which is already fully booked ahead of the Zimbabwe International Trade Fair which kicks of next week had a major plumbing refurbishment as it…

HALFWAY House, which is located in Headlands along the Harare-Mutare highway, has resumed operations after undergoing an extensive facelift. [GoogleAd] Denys Chapman, a new manager at the restaurant, said plans are underway to restore Halfway House to its former glory. “We have already completed painting the building under the first phase of renovations and we’ll…

ZIMBABWE Stock Exchange (ZSE)-listed financial services group FBC Holdings (FBC) on Tuesday said its profit after tax for the year ended December 2018 grew by 91 percent from the previous period after a 39 percent growth in income. [GoogleAd] The group reported a profit after tax of $44,4 million progressing from a profit $23,2 million…

FIRST Capital Bank (FCB) said the proposed unbundling of non-core assets for listing on the Zimbabwe Stock Exchange (ZSE) is still under review. [GoogleAd] In January this year, FCB said it had suspended plans to restructure its balance sheet, but yesterday indicated that the decision to suspend the process was due to the need to…

A HIGH level trade delegation from Mauritius is expected in Zimbabwe to explore mutually beneficial business opportunities with local companies. The trade mission of 10 companies is an initiative of the Economic Development Board of Mauritius, the country’s apex trade, investment and financial services institution. [GoogleAd] Rajen Subbamah, who will be leading the delegation, said…