HARARE – Zimbabwe will drop a requirement that mining companies must list on the local stock exchange from a new mining act, Foreign minister Sibusiso Moyo said on Monday. Industry lobby group, the Chamber of Mines, had expressed concerns about the proposal for mining firms to list locally, warning that the exchange might not be…
HARARE – Zimbabwe Stock Exchange- listed financial services group, First Mutual Holdings Limited (FMHL), has launched a bid to buy all outstanding shares held by minority shareholders in NicozDiamond Insurance Limited. FMHL last year acquired 80,92 percent of NicozDiamond issued shares and now seeks to buy the remaining 19,08 percent shareholding held by the minority….
HARARE – Transactions that passed through the Real Time Gross Settlement (RTGS) system in the week to March 29, 2018 were down 14 percent to close the week at $1,5 billion from $1,7 billion, official data shows. In its report for the week under review, the Reserve Bank of Zimbabwe (RBZ) said the total value…
HARARE – A Chinese company that reportedly invested $7 million in the mining of several minerals through a joint venture agreement with Kamativi Tin Mines Limited (Kamativi) has filed a High Court lawsuit against Kamativi, accusing it of making a u-turn on the deal and contracting a third party instead. According to court papers, the…
HARARE – The Civil Aviation Authority of Zimbabwe (Caaz) is seeking financial advisors to help in the raising of funds for proposed capital projects at various airports across the country. It is understood that Caaz requires more than $400 million to invest in its airports’ facilities to keep them in line with international standards. Zimbabwe…
HARARE – Shareholders of integrated financial services group, Old Mutual Zimbabwe are smiling all the way to the bank after the group declared a 7,11 cent per share at a time many companies are failing to reward their investors. Many companies that announced financial results for the year to December 2017 did not declare dividends…
HARARE – Zimbabwe is set to establish an independent insurance crimes unit to fight rising fraud claims amounting to $165 million annually in the country. Over the past few years Zimbabwe has witnessed an increase in insurance fraud largely due to an increase in cyber-crimes and complexities in the insurance industry. The Insurance and Pension…
HARARE – Government will in the next few weeks gazette solar water heating (SWH) geyser regulations, a senior government has revealed. The gazetting of regulations will mark the beginning of ambitious national project. Permanent secretary in the ministry of Energy and Power Development Partson Mbiriri said the new law will force property owners countrywide to…
HARARE – Youth leadership and development organisation, Elevate Trust (Elevate), has established a science and technology incubator (Scitechinc) aimed at fostering entrepreneurship among young scientists. Elevate founder Sicelo Dube said the incubator – the first of its kind in Zimbabwe – will work on the creation of new inventions for the African market. “Science and…
HARARE – When President Emmerson Mnangagwa came into office, he promised to introduce a new culture of accountability, transparency, a new beginning of sorts, which most christened “the new dispensation”. There appeared to be a flicker of hope, even among Mnangagwa’s detractors, when the new dispensation cast its dragnet far and wide to include Zanu…
