HARARE – Businessman Tawanda Nyambirai has snapped up Arcturus Mine from Metallon Corporation (Metallon). The London-listed firm placed Arcturus Mine under care and maintenance in the 2016 first quarter with mining operations suspended due to consistent losses. As part of the transaction, Metallon ceded all of its rights and obligations concerning Arcturus Mine — a…
HARARE – Stanbic Bank Zimbabwe is assisting Chitungwiza Central Hospital with the revamping and resuscitation of its water supply in a programme that involves the drilling of new boreholes and the provision of water supply equipment. The bank early this week handed over a 10 000-litre water tank and a new borehole to the hospital….
HARARE – African Export-Import Bank (Afreximbank) executive vice president, Denys Denya, says the collapse of many companies in Zimbabwe was partially caused by absence of active shareholders. “The apathy of Zimbabwean shareholders and those in most other countries across the African continent is at odds with developments in the rest of the world, especially in…
HARARE – The Infrastructure Development Bank of Zimbabwe (IDBZ) on Wednesday listed its $65 million bonds it issued in 2014 for energy infrastructure projects on the Financial Securities Exchange. Finsec chief executive Collen Tapfumaneyi said the listing of these bonds by IDBZ demonstrates confidence in local capital markets and “is an important signal to both…
HARARE – The demise of former president Robert Mugabe, through a calculated military intervention, could prove a boon for the country’s platinum-group metals, mining experts have said. Zimbabwe, the world’s number three producer of platinum and fourth largest palladium producer, according to data from Johnson Matthey, heavily depends on exports of natural resources to generate…
HARARE – French-based satellite operator Eutelsat and Sigfox Foundation have joined forces to combat rhino poaching by inserting Global Positioning System (GPS) sensors to 3 000 rhinos over the next three years. This comes as the rhino population has significantly declined due to rampant poaching from an estimated figures of 500 000 across Africa and…
HARARE – Innscor Africa was the overall listed companies winner of the Excellence in Corporate Governance Awards, while CABS was the overall banking sector winner. The Deposit Protection Corporation was the winner of the State Enterprises and Parastatals Award. Innscor was judged the overall winner for the second year running for the Best Corporate Governance…
HARARE – Zimbabwe’s leading commercial bank, CBZ Bank has launched a promotion to reward its clients for evolving and adopting the use of mobile transactions using CBZ Touch mobile application — the country’s first fully integrated financial services mobile application. The promotion is open to all clients registered on the CBZ Touch Mobile application and…
HARARE – South African packaging firm Nampak said its Zimbabwean unit recorded a 13 percent increase in profits to $4,9 million in the full year to September compared to $4,3 million registered in the prior comparable period. Nampak Zimbabwe company secretary Keith Nicholson yesterday said sales for the year amounted to $96,3 million from $95,2…
HARARE – WorldRemit, a leading online money transfer company, is guaranteeing its customers United States dollars in cash for collection at Steward Bank branches across Zimbabwe. The international money transfer firm has been operating in Zimbabwe since 2010, and is taking the unprecedented step to source cash through its partner Steward Bank. “We know that…
