Saturday, September 23, 2017
President Mugabe yesterday met captains of industry and commerce at State House to exchange notes on the macro-economic environment and how capacity can be improved in engagements both parties agreed should be held twice annually. Business also used the occasion to thank the President for a number of state intervention...
Clemence Machadu While Zimbabwe is projected to record a comeback growth of 3.7 percent this year, following years of recession in the recent past, multilateral institutions however project a bearish medium term outlook on Zimbabwe. Zimbabwe’s growth for this year is mainly anchored by agriculture’s strong recovery, which is estimated to...
Enacy Mapakame Business Reporter Zimbabwe’s listed financial services sector has remained profitable largely on the back of cost containment measures and cautious lending. Latest financial results for the half year to June 30, 2017 show that while banks registered a slowdown in bottom-line growth, the sector remains in the black. The...
Business Writer On Thursday last week, Econet shareholders approved a resolution to allow the company’s directors to buyback the company’s shares in the next 12 months. This isn’t newsworthy in itself. Econet has always had this resolution at most of its Annual General Meetings (AGMs). In fact, most Zimbabwe Stock Exchange...
Business Writers Parrogate Zimbabwe plans to set up chrome smelters in Mhangura, at an estimated cost of $18 million, with potential to generate $40 million in export earnings annually, managing director Anirudh Ganediwal said. The company has entered into an agreement with the Zimbabwe Mining Development Corporation to put a new...
Business Reporters Africa’s richest man Aliko Dangote is still keen on investing hundreds of millions of dollars in Zimbabwe’s cement industry, but securing limestone deposits to support the plant remains a sticking point, Government sources revealed yesterday. He is also keen on investing in a 600 megawatt thermal power station that...
Martin Kadzere The Infrastructure Development Bank is planning to start listing its bonds on the Financial Securities Exchange, an alternative trading platform, during the first quarter of next year. The IDBZ plans to start listing the energy bonds issued in 2014, followed by the housing bonds recently issued through a private...
Livingstone Marufu Zb Reinsurance, a wholly-owned subsidiary of ZB Financial Holdings, is still pursuing its Mozambican Reinsurance unit project despite foreign currency shortages which continue to stall the project. The development comes following reports that ZB is mulling to close down shop in Mozambique after being frustrated by the failure to...
‘‘Nothing is impossible.” These three words are on a plaque that Aliko Dangote keeps on his office desk in Lagos, Nigeria, constantly reminding Africa’s richest man how to approach the world. Dangote, who was worth $12,3 billion as of mid-August, according to the Bloomberg Billionaires Index, is modest in...
Kudzanai Sharara Struggling sugar processing company, Starafricacorporation (Starafica) is pinning its hopes on a deal where the National Social Security Authority (NSSA) is set to convert its $11,5 million loan in the company into equity. NSSA, the statutory corporate body tasked by the Government to provide social security, will also inject...