HARARE – Econet’s services and products are still a favourite for the majority of Zimbabweans due to quality and convenience, latest industry data shows. This comes as telecommunications experts said Econet has a unique position in the market in that it is the only operator which has the widest offering of diversified products and services…
HARARE – Zimbabwe is facing serious salt shortages after one of the country’s largest suppliers, Botswana Ash (Botash), said its operations are being affected by a debilitating cash crisis. Botash general manager corporate services Victoria Lekoma said her company’s trade deals have been severely affected by the current liquidity challenges that Zimbabwe is experiencing. “Cash…
CBZ’S aggressive drive to mop up unbanked clients under its ambitious financial inclusion programme is paying off as the financial services behemoth has netted more than 170 000 previously unhooked customers and here Group Chief Executive Never Nyemudzo speaks to Senior Assistant Editor Guthrie Munyuki about the group’s last year performance and future plans; below…
HARARE – The Eastern and Southern African Trade and Development Bank, commonly known as PTA Bank, has rebranded to Trade and Development Bank (TDB) in line with its new mandate. The leading regional multilateral Development Finance Institution (DFI), which has been in operation for just over three decades, has also announced that it will continue…
HARARE – Emerging entrepreneur Sipho Mudzingwa has scooped the CBZ Holdings (CBZ)’s Youth Entrepreneurs Programme (Yep) top prize. At a glitzy function held at a five-star hotel in the capital, Mudzingwa — who runs a mobile kitchen business called Chigutiro: Food on Wheels — got $3 000 that was injected into her business. The Gweru-based…
HARARE – Zimbabwe’s telecoms regulator has said mobile money has tumbled by 35 percent, with cash shortages slowing a race that has seen mobile phones turn into bank books for the “unbanked” to store cash, manage their accounts, make purchases and send and receive money. The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) said…
HARARE – Intergrated financial services group, ZB Holdings (ZB), says it will not dispose its $117 million Treasury Bills (TBs) any time soon despite significant systemic settlement risk posed by the government-backed papers. ZB chief executive Ron Mutandagayi said the financial institution was not under pressure to off-load its TB portfolio, which increased 18 percent…
HARARE – The Zimbabwe Stock Exchange (ZSE)’s losing streak continued in February with the local bourse’s market capitalisation falling down 3,7 percent to $3,8 billion. Equities research firm, IH Securities, said while foreign investors continued shunning the bourse, the industrial index had also taken a 3,5 percent knock to close at 140,24 weighed down by…
HARARE – FBC Building Society has spent over $37 million in mortgage loans to fund its housing projects across the country. The building society’s chairperson Benjamin Kumalo, on Friday said the financial institution has delivered more than 900 housing units into the property market since 2009. “In 2016, the building society provided approximately $6 million…
HARARE – Zimbabwe’s largest financial services group by asset base, CBZ Holdings (CBZ), said its ambitious $40 000 entrepreneurship empowerment programme has reached the climax with winners expected to be announced this week. The project, which has resulted in over 660 youths being trained by CBZ in financial literacy since October last year, will see…
