OK ZIMBABWE is seeking to raise US$30 million to address low stock levels and mounting debts to suppliers and banks, which have been attributed to both “endogenous and exogenous factors”. The chain supermarket group secretary, Margaret Munyuru, yesterday said the company planned to raise capital through several avenues that include rights issues that allow existing…
OLD Mutual Life Assurance Company Zimbabwe (OMLAC) is in the process of expanding the branch network for its funeral services division nationwide in an effort to improve access to customers and grow market share. OMLAC, a subsidiary of Old Mutual Zimbabwe, launched the fully-fledged funeral service in 2022 and has steadily grown its market presence…
MASIMBA Holdings says low levels of liquidity in the market adversely impacted its capacity to execute projects during the financial year ended December 31, 2024. The government has been keeping a hawkish eye on local currency supply, the ZiG, into the market in an attempt to manage the exchange rate and stabilise inflation. However, the…
ORGANISERS of the Zimbabwe International Trade Fair (ZITF) have implored exhibitors to take advantage of the upcoming fair to enhance business linkages in a bid to boost business opportunities. This year’s annual event will take place between April 21 and 26 at the ZITF showgrounds in Bulawayo. Speaking at a training for ZITF exhibitors at…
ZIMPLOW says its rationalisation at Mealie Brand and TrenTyre is expected to bring the business units back to profitability, translating to increased group earnings. The Victoria Falls Stock Exchange-listed group embarked on a cost containment drive to preserve cash flows, which included a group-wide staff rationalisation exercise, closure of non-performing branches and branch consolidation at…
OLD Mutual Zimbabwe (Old Mutual) will focus on boosting uptake of pension and long-term savings products as it seeks to strengthen its capital base, a top company executive has said. By encouraging individuals to prioritise their financial futures, the company seeks to enhance its own financial stability and play a pivotal role in fostering national…
AGRICULTURAL Finance Corporation (AFC) Holdings wants to monetise its vast tracts of peri-urban land during the first half of 2025 as it seeks to unlock capital to finance operations across its subsidiaries. AFC, which was established following the restructuring of Agribank in 2021, is wholly owned by Mutapa Investment Fund, the country’s sovereign fund. It…
STANBIC Bank Zimbabwe (Stanbic) has managed to facilitate the importation of products worth over US$3 million from China in the past three years for its clients marking a significant milestone to its strategic focus on the Asian economic giant. The bank launched the Africa-China Trade Solutions (ACTS) facility in 2021. In its financial results for…
LEADING financial institution, First Capital Bank (FCB), senior executives will hold an eight-day nationwide roadshow covering 10 towns and cities to bring banking and financial solutions to clients and communities across the country. In a statement yesterday, FCB said the roadshow was designed to reinforce the bank’s commitment to customer-centricity, innovation, and financial inclusion. “We…
THE government is currently owing seed company, Seed Co, US$40 million for seeds which authorities distributed to farmers under different initiatives, including the Presidential Inputs Scheme. In an interview with the Daily News on the sidelines of the company’s 85th year’s anniversary in Harare on Thursday, Seed Co chief executive officer, Morgan Nzwere, said the…
