HARARE – Government is pushing for a legislative framework which will pave way for the establishment of a policyholder protection fund for the insurance industry in a bid to enhance consumers’ protection, the insurance and pensions regulator disclosed last week. It aims to protect the interest of policyholders in the event of bankruptcy of an…
HARARE – The total number of active mobile subscription increased by 2,1 percent to 14 092 104 million for the year to December 31, 2017 from 13 799 648 million recorded during the previous quarter, according the Postal and Telecommunications Regulatory Authority of Zimbabwe’s (Potraz) fourth quarter report. The increase was attributed to a number…
HARARE – CBZ Holdings (CBZ) has declared a $3,5 million dividend for the full year to December 2017, a 10 percent increase on prior comparable period spurred by good performance from all units. CBZ chairperson Noah Matimba said the group — which posted a 17 percent after tax profit to $27,8 million — had also…
HARARE – A unit of the Zimbabwe Stock Exchange (ZSE) listed Dairibord Holdings Limited (DHL) has issued a statement assuring its stakeholders that its products are safe for human consumption. This follows the outbreak of listeria in South Africa, which has caused panic, as it has resulted in the loss of lives. Dairibord Zimbabwe (Private)…
HARARE – Insurance and pension industry players did not keep consistent and reliable asset values during the pre-dollarisation period, resulting in ordinary Zimbabweans failing to assess risks and ultimately investing their hard-earned money down the drain. This was revealed by a commission of inquiry set up to probe the process used to convert pensions and…
HARARE – Businessman Jayesh Shah has approached the High Court seeking to quash a court ruling forcing him to surrender to businessman Christopher Wesley Takura Tande title deeds to land earmarked for residential properties. Tande is the founder and executive chairperson of Equity Properties (Pvt) Ltd, which is currently developing the investment property at Lot…
HARARE – With just over a year into operations, the Zimbabwe Consolidated Diamond Company(Private) Limited (ZCDC) has been awarded the prestigious Company of the Year Award while its chief executive officer Moris Bekezela Mpofu was bestowed the Zimbabwe Top Business Leader of the Year Award for his business acumen. The glamorous event, which was held…
HARARE – Local financial retail market heavyweight CABS on Thursday reported a seven percent increase in net surplus for the year ended December 31, 2017, buoyed by an increase in non-interest income. The bank reported a surplus of $42 million representing an increase of 7,3 percent from the $39 million in 2016 following an increase…
HARARE – The parliamentary committee on Energy and Mines will soon summon shareholders of Shabanie Mine to explain the company’s ownership after failing to get convincing answers from the company’s management during a tour of the mine. Shabanie management, led by managing director Steven Nyagura, could not name the other beneficial shareholders in the business…
HARARE – RIOZIM believes lingering concerns over the indigenisation of diamond and platinum mines will be fatal to these respective sub-sectors. Speaking during the tour of Murowa Diamond Mine by the parliamentary portfolio committee on Mines and Energy this week, RioZim chairperson Lovemore Chihota said government needs to be clear on the issue of indigenisation….
