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CDC concerned about Zimbabwe's currency issues
The Commonwealth Development Corporation (CDC) has expressed concern over Zimbabwe's currency situation after Treasury resolved tax compliance issues around a long-delayed $100m loan that was extended...Published: 28 Oct 2018 at 21:20hrs | 2230 | by Staff reporter
Mthuli Ncube sweats over funding
NEWLY-MINTED Finance minister Mthuli Ncube this week set sail for the United States, together with President Emmerson Mnangagwa, for the United Nations General Assembly in New York where he will engag...Published: 21 Sep 2018 at 14:46hrs | 7337 | by Staff reporter
Mnangagwa cannot do it alone
Command Agriculture has put the country on the path of food self-sufficiency, increased rural incomes and better living standards.Agriculture's influence, as a sector which supplies 60 percent of ...Published: 16 Sep 2018 at 08:50hrs | 290 | by Munyaradzi Mlambo
Chamisa is not a factor in parliament, which is good
Since there are so many impious hands on Zimbabwe's internal affairs, so many hands challenging its sovereignty, I thought my opening paragraphs should address those meddlesome, self-righteous foreign...Published: 18 Aug 2018 at 07:53hrs | 387 | by Igomombe
Mnangagwa's legitimacy bid crumbles
PRESIDENT Emmerson Mnangagwa's extensive public relations campaign to position himself as a reformer and leader of a new dispensation in Zimbabwe has crumbled like a deck of cards. This is after the d...Published: 10 Aug 2018 at 11:32hrs | 6426 | by Staff reporter
Zimra insists on $100m loan tax
A DELAY by the Zimbabwe Revenue Authority in clarifying tax issues around a $100 million commercial loan recently advanced by the British government, through the state-run Commonwealth Development Fun...Published: 27 Jul 2018 at 11:20hrs | 296 | by Staff reporter
Credible elections will see GDP grow 6,5% by year-end
SOUTH African firm Emergent Research says a clear winner and a clean election will see the gross domestic product (GDP) grow to 6,5% by year end.Emergent Research is an investment research and...Published: 26 Jul 2018 at 07:39hrs | 583 | by Staff reporter
UK stockbroker to woo FDI to Zimbabwe
The Securities and Exchanges Commission of Zimbabwe (SECZ) has licensed a new strockbrocking firm, Morgan & Co, owned by British investors and two indigenous partners, which has pledged to influen...Published: 16 Jul 2018 at 06:49hrs | 263 | by Staff reporter
Banker promises to transform Harare CBD
BANKER and economic development consultant, Kudzai Mubaiwa promises to help transform the Harare central business district (CBD) and city into an economic empowerment hub if elected as an independent ...Published: 14 Jul 2018 at 11:51hrs | 621 | by Staff reporter
Zimbabwe greets a real new dawn after years of uncertainty
Even with the remaining challenges, there are tangible signs that things are set to improveWe are now into the eighth month of the new dispensation in Zimbabwe but what, if anything, has chang...Published: 04 Jul 2018 at 15:01hrs | 462 | by Patrick Colegrave
NMB Bank sources $15 million line of credit facility for exporters
NMB Bank has a $15 million four-year line of credit facility available to exporters, NMB chief executive Ben Washaya told exporters attending a breakfast meeting the bank held for them on Friday last ...Published: 03 Jul 2018 at 10:23hrs | 890 | by Agencies
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....Published: 28 Jun 2018 at 09:52hrs | 596 | by Staff reporter
Charamba clarifies $100m UK loan, cash woes link
THE US$100 million given to Zimbabwe by the United Kingdom reduces demand for foreign currency from the Reserve Bank of Zimbabwe (RBZ)by private firms and the savings will go a long way in easing cash...Published: 22 May 2018 at 06:13hrs | 520 | by Staff reporter
UK exposes Mnangagwa's $100m spin
PRESIDENT Emmerson Mnangagwa has been left exposed after claiming that the British government had advanced a $100 million loan to Zimbabwe to ease the current cash crisis.Addressing Zanu-PF su...Published: 21 May 2018 at 07:30hrs | 4741 | by Staff rpeorter
UK extends US$100m loan to Zimbabwe firms
In a major foreign policy shift, the United Kingdom (UK) is teaming up with Standard Chartered Bank to lend Zimbabwean companies US$100 million, the first direct commercial loan to the country's priva...Published: 16 May 2018 at 20:24hrs | 2426 | by Staff Reporter
Serious work to revive NRZ begins
SERIOUS work to revive the National Railways of Zimbabwe is set to start in the near future amid indications that all outstanding legal issues to the $400 million recapitalisation deal are to be seale...Published: 02 May 2018 at 06:45hrs | 316 | by Staff rpeorter
Mujuru's PRC promises economic boom in first 100 days in power
The People's Rainbow Coalition (PRC) led by Joice Mujuru has said if elected into power, the country will experience rapid economic boom which is based on its 10 pledges.PRC secretary-general ...Published: 22 Mar 2018 at 06:02hrs | 298 | by Staff reporter
UK eyes Zimbabwe investments
THE British government's development finance institution, the Commonwealth Development Corporation (CDC), is actively considering investing in Zimbabwe under a $1 billion fund targeting Africa over th...Published: 01 Feb 2018 at 09:24hrs | 1157 | by Staff reporter
Mugabe's skeletons tumble out of the closet
FORMER president Robert Mugabe and his wife Grace are leasing out land they controversially seized from Interfresh Holdings Ltd's Mazoe citrus estate a few years ago to local businessman Hamish Rudlan...Published: 08 Dec 2017 at 09:10hrs | 11968 | by Staff reporter
IDC Zim, SA counterparts to conclude $20m deal
Industrial Development Corporation of Zimbabwe officials are meeting their South African counterparts at the Industrial Development Corporation next month to have a discussion around the $20 million l...Published: 10 Oct 2017 at 02:02hrs | 466 | by Staff reporter
Kumalo takes over at IDC
LONG serving Industrial Development Corporation of Zimbabwe Limited general manager Mr Michael Ndudzo, has left the institution after 26 years of service.IDC board chairman Mr Herbert Nkala sa...Published: 18 Sep 2017 at 06:19hrs | 859 | by Staff reporter
Scaling up Development Finance
SYDNEY and KUALA LUMPUR - The Business and Sustainable Development Commission has estimated that achievement of Agenda 2030 for the Sustainable Development Goals will require US$2-3 trillion of additi...Published: 05 Sep 2017 at 20:04hrs | 254 | by Anis Chowdhury and Jomo Kwame Sundaram
NMBZ records half-year profit before tax of $4,8 million
NMBZ Holdings, NMB Bank's holding company, recorded a profit before tax of $4 838 174 for the half-year ended June 30, 2017, resulting in total comprehensive income of $3 556 915.This was an i...Published: 23 Aug 2017 at 17:14hrs | 222 | by Agencies
Absa Bank Limited and China Development Bank Conclude a $100 million Agreement
JOHANNESBURG - Absa Bank Limited (www.Absa.co.za), a subsidiary of the Barclays Africa Group (BAGL) (www.BarclaysAfrica.com), has successfully concluded a five year $100 million Special Facility Agree...Published: 18 Aug 2017 at 10:10hrs | 705 | by APO
Mangudya attends IMF, WB Spring meetings
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya is in Washington DC, United States of America attending the 2017 Spring Meetings of the International Monetary Fund (IMF) and World Ban...Published: 19 Apr 2017 at 06:31hrs | 90 | by Staff reporter
Coalition will create bloated govt
Daily News Bulawayo reporter, Jeffrey Muvundusi, talks to president of the newly-formed Zimbabwe Partnership for Prosperity (ZIPP) president Blessing Kasiyamhuru. Below are excerpts of the intervi...Published: 11 Feb 2017 at 09:37hrs | 307 | by Staff reporter
NMB Bank receives $15 million line of credit for SMEs
Development financial institutions FMO of the Netherlands and Swedfund of Sweden have agreed to together provide NMB Bank with a $15 million line of credit for lending to small and medium enterpri...Published: 27 Sep 2016 at 12:36hrs | 903 | by Agencies
Zimbabwe receives $7,6m from OPEC
Government has received a $7,6 million loan from the OPEC Fund for International Development (OFID), for on-lending to co-operatives and other income generating projects, Finance Minister Patrick ...Published: 12 Sep 2016 at 23:35hrs | 183 | by Staff reporter
IDBZ courts investors for $250 million stake
THE Infrastructure Development Bank of Zimbabwe (IDBZ) will allow local and international institutional investors to take up equity in the bank as part of measures to grow its capital base to $250 mil...Published: 11 Sep 2016 at 12:44hrs | 48 | by Munyaradzi Mlambo and Africa Moyo
Zimbabwe: Not in a thousand years!
Let's start with a series of small, light-hearted but revealing anecdotes. Beitbridge. I am told there was quite some build-up of tension on both sides of the bridge, which means a build-up from South...Published: 02 Jul 2016 at 12:01hrs | 1694 | by Nathaniel Manheru
Kasukuwere lands top African post
ZIMBABWE has landed a top post at the Pan-African housing finance institution, Shelter Afrique and will automatically host the next annual general meeting.Local Government, Public Works and Na...Published: 03 Jun 2016 at 06:39hrs | 2776 | by Happiness Zengeni and Golden Sibanda
NMB courts foreign investors
Financial services group NMB Zimbabwe will this week play hosts to foreign investors who are expected to inject clo9se to $30 million in the company. The group's Chief Financial Officer Be...Published: 12 Apr 2016 at 11:36hrs | 2981 | by Staff reporter
Nigel Chanakira plots return to banking
PROMINENT businessman Nigel Chanakira has confirmed plans to bounce back to the banking business - this time with a bias on funding small to medium enterprises (SMEs).The Kingdom Bank founder ...Published: 31 Mar 2016 at 00:35hrs | 5592 | by Bianca Mlilo
AFR100 to restore 100 million hectares of land in Africa
African countries have launched African Forest Landscape Restoration Initiative (AFR100), a Pan-African, country-led effort to restore 100 million hectares of degraded and deforested landscapes by 203...Published: 07 Dec 2015 at 14:26hrs | 996 | by Andrew Mambondiyani in Paris, France
90% of urban properties in Zimbabwe untitled
About 90% of houses in Zimbabwe do not have title deeds as 23 of the country's 32 major towns are situated on State land and therefore the respective local authorities cannot claim ownership of ...Published: 25 Sep 2015 at 16:47hrs | 3083 | by Staff Reporter
Obama boon for BancABC's parent
Atlas Mara, the parent company of pan-African banking group BancABC, has secured $200 million from a US government development finance institution (DFI), a culmination of President Barack Obama's ...Published: 12 Aug 2015 at 07:42hrs | 838 | by Staff reporter
Can Africa fund its own growth?
Mobilizing domestic resources is a key source of finance Despite witnessing exceptional growth in development finance in recent years, Africa is st...Published: 17 Jun 2015 at 17:48hrs | 3824 | by Tonderayi Mukeredzi
Lessons from the Telecel Zimbabwe saga - corporate xenophobia
THE liberalisation of Zimbabwe's telecommunications industry, especially the introduction of mobile phone networks, came at a time of heightened racial as well as anti-foreign hostilities pushed princ...Published: 13 May 2015 at 11:10hrs | 7 | by Mutumwa Mawere
Two Zimbabweans among Forbes 20 Youngest Power Women In Africa
TWO Zimbabwean women, Amira Elmissiry and Tabetha Kanengoni Malinga, have been named among the Forbes 20 Youngest Power Women In Africa for 2014.Elmissiry (31) is the Special Assistant to the ...Published: 31 Dec 2014 at 11:51hrs | 3727 | by Staff Reporter
Bid to buy out BancABC directors stalls
ATLAS Mara says it has experienced some administrative glitches in acquiring the shares held by three BancABC departing executives but hopes to tie up the deal next month.BancABC founding chi...Published: 24 Dec 2014 at 10:05hrs | 3442 | by Staff Reporter
EU attacks unfriendly Zimbabwe indigenisation law
The head of the European Union (EU) to Zimbabwe, Ambassador Philippe Van Damme says the realignment of the country's constitution with its laws could be useful in ensuring that the Indigenisation...Published: 12 Nov 2014 at 12:32hrs | 4036 | by Staff reporter
'Tendai Biti misfires on Kariba'
The state media reports that adjustment made to the cost of constructing Kariba South hydro-electric power project from USD $355 million to USD $533 million reflects the full cost of the project m...Published: 21 Sep 2014 at 23:09hrs | 6250 | by Freeman Razemba
'Kariba power expansion project cost inflated,' says Biti
MDC Renewal Team leader Tendai Biti yesterday attacked the Zanu-PF government for deliberately inflating the cost of the Kariba South hydro-electric expansion project by nearly 60% and described ...Published: 11 Sep 2014 at 08:10hrs | 1884 | by Staff reporter
South Africa's radical Zimbabwe-style economic plan
Johannesburg - Local mining houses may be forced to give up 49 percent of their companies to blacks if the Gauteng ANC's plans to table a policy proposal that recommends Zimbabwe-style ownership laws ...Published: 11 Aug 2014 at 11:08hrs | 3588 | by Mogomotsi Magome
Mawocha becomes AfrAsia Bank MD
Afrasia Bank Zimbabwe Limited has appointed former Tetrad Bank managing director Mr Tineyi Mawocha as the managing director for its rebranded flagship banking unit with effect from 6 January 2014. ...Published: 09 Jan 2014 at 10:04hrs | 2996 | by Staff Reporter
IDBZ to issue $54m bond to finance TelOne and ZPC
THE Infrastructure Development Bank of Zimbabwe (IDBZ) has plans to issue a $54 million bond to finance expansion programmes at State-owned telecoms firm TelOne and the Zimbabwe Power Company (ZPC) at...Published: 08 Oct 2013 at 03:25hrs | 1230 | by Staff reporter
Zanu-PF founding member dies
One of Zanu-PF's founding members, William Murombo Chirenje, has died. Chirenje succumbed to diabetes and hypertension complications on Monday at BS Leon Trust in Harare. He was 76. Ch...Published: 03 Jul 2013 at 03:24hrs | 4657 | by Staff reporter
International Business School Accreditation Key Criteria for African MBA Students
International business school accreditations and international diversity in the classroom are just some of the key deciding factors that are motivating Africa's future business leaders to study abroad...Published: 18 Jun 2013 at 13:32hrs | 2961 | by Tarcia Hendricks
Visa requirements in Africa hamper trade and job creation, concludes panel at the AfDB Annual Meetings
Africa is one of the regions in the world with the highest visa requirementsMARRAKECH, Morocco - "Africa is one of the regions in the world with ...Published: 01 Jun 2013 at 13:59hrs | 3147 | by APO
Mujuru urges govt, business sector to eliminate bureaucracy and embrace global trends
VICE-President Joice Mujuru yesterday challenged Government and the business sector to eliminate bureaucracy and embrace global trends in order to maintain the economic revival momentum.The co...Published: 25 Apr 2013 at 05:09hrs | 1918 | by Staff Reporter
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