HARARE – Old Mutual Limited shares were yesterday listed on the Johannesburg Stock Exchange (JSE) with a secondary listing on the Zimbabwe Stock Exchange (ZSE), Nairobi Securities Exchange (NSX) and the Malawi Stock Exchange (MSE) The listing replaces the listing of Old Mutual plc which has been split into four stand-alone, listed businesses, which include…
HARARE – Construction firms are on a collision course with workers, who are threatening to strike and take legal action over a wage hike. The workers accuse the employers of reneging on an agreement reached in March this year to increase salaries by three percent. On March 27, the Zimbabwe Construction and Allied Trades Workers…
HARARE – Insurance giant Old Mutual Zimbabwe has liberalised its B Class shares that were previously open to trading among locals as part of the company’s indigenisation plan. In 2011, Old Mutual surrendered 25 percent of its issued shares to indigenous investors as a way of complying with Zimbabwe’s controversial Indigenisation laws. Under the scheme,…
HARARE – Businessman Frank Buyanga’s African Medallion Group (AMG) has just closed a Rand 100 million acquisition of Pagliari Group (Pagliari), a former subsidiary of Rand Refinery (RF) and supplier of high-quality gold products. The development also comes as the South African-based company has offered its assets to capitalise Zimbabwe’s sovereign wealth fund (SWF) and…
HARARE – Budget airline FlyAfrica Zimbabwe (FlyAfrica) has grounded its fleet to facilitate recertification after the Civil Aviation Authority of Zimbabwe (Caaz) suspended its operator’s certificate. Last week, Caaz suspended FlyAfrica’s Air Operator’s Certificate before coming into agreement with the airline to switch its aircraft leases from a Wet Lease Arrangement (WLA) to a Permanent…
BULAWAYO – People’s Rainbow Coalition (PRC) has dismissed the recent poll surveys which have literally thrown them out of the election race, in the process concluding it to be a two-horse race pitting the MDC Alliance and Zanu PF. Zimbabwe’s Mass Public Opinion Institute (MPOI), in partnership with Afrobarometer predicted a closely-contested 2018 election with…
HARARE – Several Ghanaian investors are expected in Zimbabwe this month to explore investment opportunities. Ghana is likely to have one of the world’s fastest-growing economies this year, according to the World Bank, the African Development Bank, the International Monetary Fund and the Brookings Institution. Its projected growth in 2018, between 8,3 and 8,9 percent,…
HARARE – The Zimbabwe Revenue Authority (Zimra) is set to auction confiscated goods and those seized for flouting various customs regulations, with the proceeds set to go towards the fiscus. This comes after the Authority’s commissioner general Faith Mazani ordered rummage sales to be held between this year and 2020 for uncleared goods currently stationed…
HARARE – South Africa’s Alexander Forbes Group Holdings on Friday said its acquisition of a significant stake in African Artcurial Consultants (AAC) has received all the necessary relevant regulatory approvals. Andrew Darfoor, Alexander Forbes group chief executive, said AAC gives the specialised financial services group with its head office in Sandton, South Africa and business…
HARARE – Former Delta Corporation Limited (Delta) workers have picketed the company’s headquarters demanding pension payouts. Delta said it has no responsibility to pay pension payouts to its rioting former employees since its pension scheme had a different administrator. The company also said the workers were wrong in demanding to be given dividend arising from…
