-
Golden Sibanda Senior Business Reporter THE Deposit Protection Corporation (DPC ) will institute a forensic audit into the operations of Tetrad Investment Bank to determine circumstances that led to its collapse. DPC chief executive Mr John Chikura confirmed in an interview that a probe into Tetrad was on the cards, but a meeting would first […]
-
Business Reporter THE Reserve Bank should come up with early warning systems to prevent banking sector distress, after a local research institution found out that the sector suffered three distress shocks between 2012 and 2014. The Zimbabwe Economic Research Unit, in its Economic Barometer (Volume 15), said the Banking
-
JOHANNESBURG. — The rand was weaker at the start of a new week that will likely be dominated by the outcome of the US Federal Reserve meeting tomorrow. Standard Bank trader Warrick Butler said while he didn’t expect the US central bank to hike interest rates this week, he would be looking for more clarity […]
-
MANILA — Gold hovered just above its lowest level since 2010 yesterday, struggling to move higher as the market expects the US Federal Reserve to move closer to raising interest rates. The Fed will hold a two-day meeting that ends tomorrow at which policy makers are likely to send more signals pointing to a
-
-
Walter Muchinguri Assistant Business Editor At least eight insurance companies are yet to meet the minimum capital requirements set by the Insurance and Pension Commission. The Commissioner of Insurance, Mrs Manett Mpofu, said the eight, five short-term and three life companies were given June and September deadlines to shore up their capital to
-
Business Reporter DAWN Properties’ revenue for the first quarter to June at $1,07 million was 13 percent down on the same period last year, signifying the prevailing harsh trading conditions, chief executive officer Mr Justin Dowa said on Friday. In a trading update to shareholders at the company’s annual general meeting, Mr
-
Godfrey Gavure in Gweru The Zimbabwe Association of Funeral Assurers, the National Funeral Directors Association of South Africa and Funeral Services Association of Kenya have formed the African Funeral Assurers and Services Association in order to tackle issues relating to funeral assurance at a continental level. Addressing
-
Independent power producer Pan-African Engineering Resources (PER) has secured a $950 million loan from China to finance development of the first phase of the Lusulu thermal station in Binga, Matabeleland North Province. After completion of the first phase, the plant would produce 600 megawatts. The
-
-
Business Reporter PRESIDENT Mugabe with effect from last Friday, appointed a new board for the Reserve Bank of Zimbabwe, according to a note published in the latest Government Gazette. Economist Mrs Rita Likukuma has been appointed deputy chairperson alongside eight other directors. RBZ governor Dr John Mangudya
-
Tinashe Makichi Business Reporter Zimbabwe has won the African Rising Star Country Branding Award from Bloom Consulting, a Spanish-based strategy consulting firm, which specialises in National Branding. The accolade is given to a destination that shows extraordinary improvement on the tourism growth rate and enhanced focus on brand
-
Jeffrey Gogo Climate Story LITTLE by little, small actions taken today become bigger actions tomorrow, changing not only the course of history, but the future, also. Now, one Zimbabwean man, Mr Samuel Nkomo, 42, who is no stranger to wildlife, is trying to carve a niche in conservation history. After completing a 500km walk
-
Martin Kadzere Senior Business Reporter The value of transactions processed through mobile platforms surpassed $2 billion during the first five months of the year, highlighting the increasing number of people turning to mobile devices to transact.
-
-
The Agricultural Development Bank of Zimbabwe (Agribank) has created an account aimed at attracting the informal sector as it diversifies into a micro-finance institution.
-
Tinashe Makichi Business Reporter Government is still in the process of finalising the $3 million loan from an Arab financial institution for the recapitalisation of the Small and Medium Enterprises Development Corporation(SMEDCO), a Cabinet Minister said yesterday.
-
Conrad Mwanawashe Business Reporter MILLERS and bakers have renewed a Memorandum of Understanding which requires the grain processors to procure 75 percent of flour locally. The National Bakers Association of Zimbabwe president Mr Givemore Mesoemvura said the current MoU was due to expire on August 8.