HARARE – Malawi’s FMB Capital Holdings (FMB Capital) is in exclusive talks with Barclays Plc to buy its 68 percent stake in Barclays Bank Zimbabwe (BBZ). This also comes as sources have told businessdaily that a local consortium — led by an Indian family with ties to President Robert Mugabe’s government — was also playing…
HARARE – Agribank’s revival continues after the agriculture-focused financial institution posted a $4,8 million profit in the full year to December 2016. This compares favourably with a loss of $6,3 million recorded in the same period in 2015. “This positive performance marked an indication of the solid turnaround for the bank premised on the implementation…
HARARE – NetOne is continuing with its rapid expansion drive after it opened another shop in Chiredzi at the weekend. The company’s public relations manager John Nyashanu said his organisation was going to open more shops across the country as part of its expansion drive. “We are going to have a presence in all areas…
HARARE – Zimbbwean crocodiles and alligators breeder, Padenga, is banking on anticipated recovery in the United States of America’s economy to boost its business. The group’s chief financial officer, Oliver Kamundimu, yesterday said a growth in America’s economy bodes well for his company. “We hope that (America’s President Donald) Trump will live to his promise…
HARARE – Intergrated financial services group, CBZ Holdings (CBZ), said the new low interest rates regime will help promote economic growth through increased production. This was after the Reserve Bank of Zimbabwe (RBZ) put a cap on interest rates at 12 percent effective next month in an effort to stimulate aggregate demand, promote the resuscitation…
HARARE – Zimbabwe’s fixed telecommunications firm, TelOne, has unveiled the country’s first world class data centre as part of strategies to diversify its business and increase revenue streams. The state-of-the-art data centre, which is a sub-project of the National Broadband (NBB) Project, is expected to transform TelOne to become a fixed mobile converged company with…
HARARE – Dual-listed financial services group, NMB Zimbabwe (NMBZ), has sold off just over $12,7 million of bad loans, almost completing the disposal of its toxic portfolio. The group’s chief executive, Benefit Washaya, last week said his organisation was cleaning its balance sheet to make it attractive to international financiers. This comes as the Zimbabwe…
HARARE – Ethiopean Airlines will launch its maiden Victoria Falls flight this Sunday. The airline’s group chief executive, Tewolde GebreMariam said the four weekly flights into the resort town were part of the carrier’s expansion plans linking the world to one of the world’s seven natural wonders. The Addis Ababa — Victoria Falls — Gaborone…
BULAWAYO – India said it is seeking to develop Zimbabwe’s diamond sector through increased trade. One of the emerging Asian giant’s leading industry bodies, I am SME of India, yesterday said it was looking for ways to partner with local diamond producers. “It’s deplorable that Africa in general and Zimbabwe in particular has not benefited…
HARARE – Zimbabwe’s central bank is warming up to adoption of the South African Rand as a dominating currency following various calls from business in favour of the exchange. In an apparent U-turn from his previous stance, Reserve Bank of Zimbabwe (RBZ) deputy governor Kupukile Mlambo, on Thursday said rand domination would benefit the country,…
