Old Mutual to manage capital from Zimbabwe business on ring fence basis

Old Mutual Limited (OML) says capital raised through repatriation of dividends from its Zimbabwe business will be managed on a ring-fenced basis. This came at a time when the local economy is bleeding...

By Staff reporter | Published: 22 August 2019

ZIMBABWE

ZSE capitalisation surges 4,6% on multi-currency ban

The Zimbabwe Stock Exchange's capitalisation on Monday increased by 4,6% to ZWL$30,86 billion as the market reacted to government's decision to outlaw a multi-currency system adopted a decade ago.The ...

By Staff reporter | Published: 26 June 2019

POLITICS

Mnangagwa engages Capitalk FM listeners live

HARARE's prime talk radio station, Capitalk 100.4FM, is set to host its first live interview with President Mnangagwa today, with various issues confronting the economy such as price increases and cur...

By Staff reporter | Published: 14 June 2019

INDUSTRIALS & ENERGY

CFI divisions get $33 million working capital

CFI Holdings' divisions, Agrifoods and Victoria Foods, will next month go for a scheme of arrangement after their judicial managers, Grant Thornton, courted an investor, Dominion Trading, which inject...

By Staff reporter | Published: 01 May 2019

FINANCIAL SERVICES

Agribank on schedule for $100m capitalisation

AGRICULTURE development bank, Agribank says it expects to attain US$100 million capitalisation by January 2020, predominantly for agriculture financing and development. This development comes on the b...

By Staff reporter | Published: 29 April 2019

FINANCIAL SERVICES

Capital Bank Corporation provisionally winds up

Capital Bank Corporation has been provisionally wound up after the financial institution failed to service its debts amounting to over $25 million.The decision by the High Court followed an applicatio...

By Staff reporter | Published: 12 February 2019

ZIMBABWE

Capital markets poised for growth in 2019

SecZim says it is optimistic that the capital markets will perform exceptionally well this year, despite economic headwinds. Zimbabwe is facing its economic crisis in a decade as shown by increasing f...

By Fin Gaz | Published: 07 February 2019

FINANCIAL SERVICES

Untu Capital foreign backers withdraw support

African Guaranteed Fund (AGF), the foreign backers of Untu Capital's bond issue, have withdrawn their support to the microfinance company citing Zimbabwe's current unpredictable economic environment, ...

By Staff reporter | Published: 06 February 2019

FINANCIAL SERVICES

First Capital Bank shelves unbundling of non-core assets

FIRST Capital Bank, formerly Barclays Bank Zimbabwe has indefinitely suspended the proposed unbundling of non-core assets for listing on the Zimbabwe Stock Exchange (ZSE). In a statement regarding the...

By Staff reporter | Published: 29 January 2019

FINANCIAL SERVICES

Net closes in on under-capitalised assurers

The Insurance and Pensions Commission (Ipec), is closely monitoring three under-capitalised life assurance firms - Evolution Life, Heritage and Fidelity Life - after the assurers closed the third quar...

By Staff reporter | Published: 08 January 2019

FINANCIAL SERVICES

First Capital Bank approves unbundling of non-core assets

FIRST Capital Bank, formerly Barclays Bank Zimbabwe, has approved the unbundling of non-core assets set for listing on the Zimbabwe Stock Exchange (ZSE). In a renewal of cautionary statement to shareh...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

Zimpost revenue dips on working capital constraints

ZIMPOST says it generated $19,3 million in revenue in the 11 months to November, which was 12% below the $22 million achieved last year, as liquidity challenges and working capital constraints affecte...

By Staff reporter | Published: 31 December 2018

TELECOMS & TECHNOLOGY

C-Trade brings capital markets to rural areas

At a time Government is pursuing financial inclusion strategies in remote areas, the latest innovation, C-Trade; an online and mobile share trading platform is expected not only to make trading of sto...

By Staff reporter | Published: 27 July 2018

BUSINESS NEWS

60% of Bulawayo shopping complex capital needs met

Construction of a $12 million shopping complex in Bulawayo's Cowdray Park suburb by Sai Enterprises is on course, with $6 million of the project's total capital requirements having been spent, an offi...

By Staff reporter | Published: 26 July 2018

LANDS & AGRICULTURE

Govt moves to recapitalise CSC

Government has moved closer to concluding a deal to recapitalise the Cold Storage Company (CSC) with potential investors, Lands, Agriculture and Irrigation Development Minister Perrance Shiri has said...

By Staff reporter | Published: 12 July 2018

BUSINESS NEWS

Gweru moots capital development fund

Gweru City Council has announced plans to set up a capital development fund that will assist in financing its future capital projects in a bid to move away from over reliance on rates and service fees...

By Staff reporter | Published: 09 July 2018

INDUSTRIALS & ENERGY

General Beltings seeks $2 million to recapitalise

THE country's sole manufacturer of conveyor belts, General Beltings Holdings needs about $2 million to recapitalise its operations to fortify its surge towards profitability and robust growth.General ...

By Staff reporter | Published: 08 July 2018

FINANCIAL SERVICES

Capital Bank liquidation in limbo

THE liquidation of Capital Bank is yet to proceed four years after its licence was revoked amid concerns over rising costs being accrued against the financial institution to the detriment of its credi...

By Staff reporter | Published: 06 July 2018

BUSINESS NEWS

Mnangagwa open to domestic capital

PRESIDENT Emmerson Mnangagwa says his government is committed to attracting and promoting domestic capital the same way it is promoting foreign direct investment. This was after several economic exper...

By Staff reporter | Published: 05 July 2018

BUSINESS NEWS

Zimbabwe told to prioritise domestic capital

ZIMBABWE should seriously consider boosting its economy by placing more emphasis on domestic capital over foreign investment through attractive investment packages and other incentives, analysts say.T...

By Staff reporter | Published: 28 June 2018

FINANCIAL SERVICES

Micro-finance firm raises $5 million capital

Micro-financE firm Untu Capital, has raised its targeted $5 million in an issuance of tradable bonds after successfully issuing the third and final tranche of $2 million on the Financial Securities Ex...

By Staff reporter | Published: 25 June 2018

BUSINESS NEWS

Mangudya calls for capital projects investment

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said Zimbabwe is spending more resources on consumption instead of capital projects.Speaking at the launch of the Homelink's housing project i...

By Staff reporter | Published: 15 June 2018

BUSINESS NEWS

CSC recapitalisation deal edges close

THE Cold Storage Company (CSC) recapitalisation deal is expected to be finalised early next month, Lands, Agriculture and Rural Resettlement deputy minister, Davis Marapira has said.Marapira told News...

By Staff reporter | Published: 17 May 2018

BUSINESS NEWS

RBZ enhances measures for external capital flows

The Reserve Bank of Zimbabwe (RBZ) is working on strengthening its legal, institutional and regulatory frameworks to effectively ring-fence foreign investments to enable investors to repatriate funds ...

By Staff reporter | Published: 15 May 2018

MINING & RETAIL

Hwange requires $500m capital injection

Hwange Colliery Company Limited's (HCCL) management is set to meet Mr Nicholas van Hoogstraten, one of its major shareholders today to discuss possibilities of him injecting fresh working capital into...

By Staff reporter | Published: 08 May 2018
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