HARARE – Creditors of the now-defunct Interfin Bank will next week meet the bank’s liquidator, the Depositors Protection Corporation (DPC), at the Master of the High Court’s offices to finalise compensation. DPC chief executive John Chikura yesterday told the businessdaily that the last meeting had been confirmed for tomorrow (January 14). “The creditors will meet…
HARARE – The Zimbabwe Stock Exchange (ZSE)’s bearish mode continued into 2016 with the local bourse’s benchmark industrial index slipping into fifth successive loss in thinly-traded sessions during the first week of January. On Friday last week, only 10 stocks were active for the day with thinner exchanges. Statistics from EFE Securities show that there…
HARARE – Namibia’s largest uranium mine, Rossing, is reportedly targeting Murowa Diamonds (Murowa) managing director Zebra Kasete to take up a senior position at the company, businessdaily has learnt. Kasete once worked at Rio Tinto’s Namibia unit since 1987 and rose through the ranks to become general manager corporate services before he was appointed to…
HARARE – The year 2015 proved to be a very challenging year not only for companies but for individuals as well. And in the absence of strong economic reforms and the impending drought, the situation is expected to deteriorate further this year. Our Business Editor John Kachembere (JK) speaks with the Zimbabwe National Chamber of…
HARARE – South African insurer Hollard has reportedly set its eyes on acquiring a majority stake in two Zimbabwean insurance companies Hamilton Insurance (Hamilton) and Cell Funeral Assurance (Cell), the Daily News can reveal. The development also comes as another trans-Limpopo insurer Sanlam has announced plans to acquire a 40 percent interest in Shingai Mtasa’s…
HARARE – Caledonia Mining Corporation (Caledonia) says gold production at its Zimbabwe operations increased by 10,6 percent to 11 518 ounces during the last quarter of 2015. The Toronto Stock Exchange-listed resources company owns 49 percent in Gwanda-based Blanket Mine. The group’s chief executive, Steve Curtis, yesterday said total 2015 gold production was approximately 42…
HARARE – The Reserve Bank of Zimbabwe (RBZ) says government must enforce measures to limit its capital expenditures or risk remaining in a negative fiscal deficit. In its latest quarterly report released yesterday, the central bank said government had an overall budget deficit of over $260 million in the nine months to September 2015 and…
HARARE – There was a bloodbath on the Zimbabwe Stock Exchange last year as punters lost close to $1,3 billion after the local bourse’ market capitalisation fell from $4,3 billion in December 2014 to $3 billion in December 2015. Market experts say the continued decline in listed companies’ shares by 30 percent year-on-year was a…
HARARE – After losing approximately $2 billion to corruption in 2013 alone, the Zimbabwean government lacks the willpower to fight the sleaze especially in public office, Transparency International (TI) has said. According to its “People and Corruption: Africa Survey 2015 report” TI says out of a total of 22, Zimbabwe is among the 18 governments…
HARARE – An investment delegation from Qingdao Province, China is expected in the country tomorrow, as more companies from the Asian giant continue to scout for investment opportunities in Zimbabwe. Information from the ministry of Macro-Economic Planning and Investment Promotion indicates that the delegation will be in the country for three days, in search of…
