Business

HARARE – ZB Bank (ZB) has teamed up with United Kingdom-headquartered cross-border payments enabler, Zympay, to facilitate digital payments for school fees both locally and from the Diaspora. ZB Financial Holdings Limited chief executive Ronald Mutandagayi said the initiative, which was launched in Harare yesterday, was part of the diversified banking institution’s efforts to facilitate…

HARARE – Zimbabwe National Roads Administration (Zinara) company secretary Mathlene Mujokoro has been inexplicably appointed acting chief executive in the aftermath of Nancy Masiyiwa-Chamisa’s recent suspension. The hapless engineer’s suspension came as Wilfred Ramwi’s board had resolved to “censure her for the parastatal’s losses under financial deals cut by Simon Taranhike and others”, and the…

HARARE – Postal services provider Zimpost has partnered First Mutual Life (FML) Assurance to launch funeral assurance — PostLife Funeral Cash Plan. The product is underwritten by FML. The partnership, signed on March 1, 2018, entails the distribution of life assurance products under the Zimpost brand name Postlife, underwritten by FML. “The funeral cash plan…

HARARE – Non-life insurers’ total assets grew 19,2 percent from $197,43 million as at December 31, 2016 to close 2017 at $235,42 million buoyed by good fortunes on the local bourse, official data revealed. In its report for the 12 months to December 31, 2017, the Insurance and Pensions Commission (Ipec) said the good fortune…

HARARE – Controversial businessman Wicknell Chivayo says he could have completed the 100 megawatt (MW) Gwanda solar project in eight months had it not been for the Zimbabwe Power Company (ZPC) board’s intransigence, documents show. The development also comes as the Intratrek Zimbabwe (Intratrek) founder has told President Emmerson Mnangagwa that he had completed about…

HARARE – The Real Estate Institute of Zimbabwe (Reiz) will be holding its 2018 Winter School in Victoria Falls from July 5 to 8 under the theme “Integrating Sustainability in the Real Estate Sector for Economic Transformation.” The Winter School is coming at a time the property market has remained depressed in the first half…

HARARE – National Tyre Services (NTS) says its mixed bag strategy to supplement direct sourcing with local supplies and pushing sales of premium products to improve margins has started paying dividend. This was after the company’s profit after tax surged to $118 000 in the full year to March 31, 2018 compared to a loss…

HARARE – The central bank has warned that Zimbabwe’s recurrent trade deficits poses significant challenges as the country continues to rely on export revenues to generate liquidity and support domestic economic activity. In its March report, the Reserve Bank of Zimbabwe (RBZ) said Zimbabwe needed to attract both domestic and foreign investment to rejuvenate industry….

HARARE – Zimbabwe’s capital markets will this week introduce a mobile application, C-Trade, in a move that is expected open the financial markets to broader participation. Escrow Systems, a unit of the Escrow Group which provided the technical solution for the recently launched mobile traded retail bond in Kenya, spearhead this innovative online and mobile…