HARARE – The Infrastructural Development Bank of Zimbabwe (IDBZ) yesterday said government has injected an additional $150 million fresh capital into the financial institution. Industry experts said the recapitalisation of State banks is a significant change from the drip-feed approach pursued over the last few years and should help to address the capital shortages that…
HARARE – Edgars Stores (Edgars) says it is engaged in discussions with an unnamed investor in a deal that may impact value of the company’s shares. Buhlebenkosi Mpofu, the clothing retailer’ company secretary, yesterday advised shareholders in a statement to be cautious on the local stock market when trading Edgars’ shares. “Edgars wishes to advise…
HARARE – American strategist Alan Leeds is in Harare this week to talk to businesses about agile strategy, which helps companies to shift directions when obstacles arise. Kennedy Chikuhwa, a managing consultant with Global Tech Human Capital Corporation which is organising the strategy workshop, said today’s world has become increasingly complex, unpredictable and prone to…
MUTARE – Zimbabwe Council of Tourism (ZCT) has rebranded to Tourism Business Council of Zimbabwe (TBCZ) as this will help communicate that they are the voice of the businesses in travel and tourism. TBCZ president Tich Hwingwiri who announced the rebranding at a media briefing last Thursday, a week after the organisation’s 30th anniversary, said…
HARARE – Zimbabwean employees should prioritise pension contributions to safeguard their lives during retirement, industry experts have said. Most employees in the southern African nation are sceptical to contribute towards private pension funds after claim contributions were wiped by inflation during the Zimbabwe dollar era, which reached an unbelievable 213 million percent inflation at its…
HARARE – Stanbic Bank Zimbabwe (Stanbic) yesterday said its profit after tax increased by 28 percent to $16,4 million in the half year to June 30, 2018 due to increases in interest income and non-interest income. The bank’s interest income increased by 27 percent to reach $32,6 million from $25,5 million in 2017, while non-interest…
HARARE – Econet Wireless has launched the EcoFarmer Club which offers farmers access to a rich bundle of services that include agricultural commodity prices, valuable farming tips, relevant local weather information and a mobile trading platform which links farmers to buyers. Speaking at the launch of the EcoFarmer Club in Harare yesterday, Econet CEO Douglas…
HARARE – NMBZ Holdings says it recorded a profit before tax of $11,8 million for the half-year ended June 30, 2018, resulting in total comprehensive income of $9 086 483. This was an increase of 155 percent compared to the same period last year, when comprehensive income stood at $3 556 915. The group achieved…
HARARE – The People’s Own Savings Bank (POSB) yesterday said its net profit surged by 111 percent to $8,11 million in the half year to June 30, 2018 due to an increase in interest income. Interest income increased by 27 percent to reach $8,43 million from $6,62 million during the same period. Non-interest income increased…
HARARE – Zimbabwe’s cumulative trade deficit for the six months to July has reached $1,5 billion, latest trade data shows. Over the years, the country has persistently held an annual trade deficit of $3 billion on the back of falling industrial competitiveness. Latest figures released by the Zimbabwe Statistics Agency (Zimstat) yesterday showed that between…
