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NMBZ turns to Rabobank for agric financing
NMBZ Holdings Limited, a leading financial services group, has announced a strategic partnership with Rabobank, a Dutch multinational specializing in banking and financial services, to implement an en...Published: 19 Nov 2024 at 08:49hrs | 219 | by Staff reporter
NMBZ optimistic on ZiG inflation-easing impact
Listed financial services provider, NMBZ Holdings Limited, has expressed optimism about the inflation-easing impact of the new Zimbabwe Gold (ZiG) currency, following a 209% revenue increase in the fi...Published: 21 May 2024 at 08:27hrs | 1 | by Staff reporter
Blocked funds choke NMB
NMBZ Holdings Limited (NMB) registered US$13,4 million debt because of blocked funds with the central bank which it owes to various line of credit providers, it has been revealed.NMB's financi...Published: 18 Apr 2022 at 10:30hrs | 1 | by Staff reporter
NMBZ realises $705 million pre-tax profit
NMBZ Holdings realised a profit before taxation of ZWL 705 414 282 last year, in what the group's chairman, Mr Ben Chikwanha, described as a remarkable performance, despite the difficult operating env...Published: 07 Apr 2021 at 10:36hrs | | by Agencies
Ex-top banker speaks on daring escape
NMBZ Holdings founder James Mushore has spoken of how he evaded arrest and fled to exile over a decade ago after being accused of externalising foreign currency.Mushore (JM) told Alpha Holding...Published: 07 Mar 2021 at 08:12hrs | 6 | by Staff reporter
NMBZ realises inflation adjusted half-year comprehensive income of $992 million
NMBZ Holdings, NMB Bank's holding company, realised an inflation adjusted total comprehensive income of ZWL992 251 893 in the six months to June 30 compared to ZWL703 127 345 in the same period last y...Published: 03 Sep 2020 at 18:52hrs | | by Agencies
NMBZ records half-year profit before tax of $11,8 million
NMBZ Holdings, NMB Bank's holding company, recorded a profit before tax of $11 757 594 for the half-year ended June 30, 2018, resulting in total comprehensive income of $9 086 483.This was an ...Published: 28 Aug 2018 at 16:19hrs | 5 | by Agencies
NMBZ achieves $10 million after-tax profit
NMBZ Holdings' profit before taxation for the year ended 31 December 2017 was $13 017 690. Profit after tax was $9 938 826, an increase of 96 percent over last year's after-tax figure of $5 058 166....Published: 22 Mar 2018 at 14:42hrs | | by Mike Hamilton
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 | | by Agencies
Arise becomes second largest NMBZ shareholder
Arise, an investment company that was formed by a partnership between Norfund (a Norwegian investment fund), FMO (a Dutch development fund) and Rabobank (a Dutch commercial bank) has taken over 69.14 ...Published: 21 Aug 2017 at 15:34hrs | | by Agencies
Harare to appoint new town clerk
Harare City Council is set to appoint a substantive town clerk this month, with council authorising officials to advertise the position with immediate effect.The city is parting ways with form...Published: 05 Aug 2017 at 09:14hrs | | by Staff reporter
Harare cancels Mushore contract
MDC-T-led Harare City Council has finally terminated the contract of former NMBZ Bank chief executive James Mushore and the former banker will smile all the way to the bank as the municipality owes hi...Published: 03 Aug 2017 at 11:31hrs | | by Staff reporter
NMBZ performing well, AGM told
NMBZ Holdings expects its June 30 half-year performance to be better than last year's and its 2017 performance to surpass that of 2016, barring a significant deterioration in the economy, its chief ex...Published: 24 May 2017 at 15:51hrs | | by Mike Hamilton
NMB launches interactive online support centre
NMB Bank has launched an interactive support centre, while also launching itself onto social media, providing customers with several means of interacting with the bank and obtaining information and as...Published: 26 Apr 2017 at 10:07hrs | | by Agencies
Kasukuwere blocks Mushore return
Local Government, Public Works and National Housing Minister Saviour Kasukuwere has blocked attempts by some councillors at Harare City Council to bring back banker Mr James Mushore to Town Ho...Published: 24 Apr 2017 at 06:29hrs | 1 | by Staff reporter
Mushore's salary balloons
Harare City Council now owes Mr James Mushore over $125 000 in salary arrears after the former NMBZ bank chief executive officer was sent on forced leave after signing a two-year contract with the...Published: 30 Mar 2017 at 06:34hrs | | by Staff reporter
NMBZ achieves pre-tax profit of $6,2 million
NMBZ Holdings, NMB Bank's holding company, made a profit before taxation of $6 208 904 in the year ended 31 December 2016. Its banking subsidiary achieved a capital adequacy ratio of 23,3 perc...Published: 27 Mar 2017 at 14:26hrs | | by Agencies
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 | | by Agencies
NMBZ records half-year before tax profit of $3,6 million
NMBZ Holdings, NMB Bank's holding company, recorded a profit before tax of $3,558 801 for the half-year ended June 30, 2016, resulting in an attributable profit of $2 640 274. The attributable...Published: 24 Aug 2016 at 13:20hrs | | by Mike Hamilton
City of Harare, City of 'Actors'
The cameras will not stop rolling at Harare City Council, at least for now. The council is known for creating drama - at one point allowing its elected members to shower at Town House only to late...Published: 21 Aug 2016 at 08:57hrs | | by Staff reporter
NMBZ welcomes new shareholder partnership
NMBZ shareholders FMO of the Netherlands and Norfund of Norway have joined forces with Rabobank of the Netherlands to pool their investments in financial institutions across Africa. The new company fo...Published: 04 Aug 2016 at 12:35hrs | | by Mike Hamilton
NMBZ pushes for plastic money economy
NMBZ flagship arm, NMB Bank introduced a mobile application and other technologically driven measures aimed at promoting the realization of a cashless economy in Zimbabwe. The bank's marke...Published: 04 Aug 2016 at 09:01hrs | | by Staff reporter
Court set back for Mushore
The High Court has dismissed, with costs, Harare town clerk James Mushore's urgent chamber application seeking an order forcing acting mayor Councillor Chris Mbanga to unlock his office at Town House....Published: 28 Jun 2016 at 06:45hrs | | by Court Reporter
Pepsi to set up multi-million plant in Zimbabwe
AN Indian billionaire planning to set up a multi-million dollar PepsiCo plant in the country visited Zimbabwe over a fortnight ago to clear bureaucratic hurdles, which appeared to stall the project, t...Published: 20 May 2016 at 13:01hrs | | by Staff reporter
Councillors protest against Mushore
Harare councillors yesterday boycotted an Urban Councils Association of Zimbabwe (UCAZ) meeting in Bulawayo after former NMBZ chief executive Mr James Mushore made a surprise appearance to represent t...Published: 29 Apr 2016 at 06:40hrs | | by Innocent Ruwende
Kasukuwere to evict Tsvangirai soon
Movement for Democratic Change (MDC-T) leader Morgan Tsvangirai face imminent eviction from a State mansion in Highlands, Harare over the appointment of Harare town clerk, James Mushore, w...Published: 28 Apr 2016 at 07:47hrs | | by Staff Reporter
Mushore appointment costly for Harare council
Harare councillors are today expected to reverse an earlier resolution to appoint former NMBZ chief executive Mr James Mushore as town clerk, a decision that could trigger a costly lawsuit from the ba...Published: 25 Apr 2016 at 06:39hrs | | by Innocent Ruwende and Nyemudzai Kakore
Suspended Harare Mayor goes to High Court
Suspended Harare mayor Councillor Bernard Manyenyeni has approached the High Court challenging his suspension which he terms to be unlawful and in contravention of provisions of the Constitution. ...Published: 22 Apr 2016 at 07:34hrs | | by Court Reporter
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 | | by Staff reporter
Kasukuwere sued
HARARE and Chitungwiza residents have taken the Minister of Local Government, Public Works and National Housing, Saviour Kasukuwere, to the High Court challenging the constitutionality of his recent r...Published: 01 Apr 2016 at 10:18hrs | | by Daniel Nemukuyu
James Mushore hired, fired same day
FORMER NMBZ Holdings group chief executive officer James Mushore wrote a piece of history for himself yesterday by becoming the shortest serving Harare town clerk after he was appointed and fired the ...Published: 25 Mar 2016 at 11:39hrs | | by Staff reporter
Mushore lands top Harare job
Former NMBZ chief executive officer (CEO), James Mushore, has reportedly landed the position of town clerk for the City of Harare (CoH). The ex-banker, who resigned from NMBZ last year, be...Published: 17 Mar 2016 at 06:30hrs | | by Staff reporter
NMB Bank secures new correspondent banks for foreign transactions
NMB Bank has entered into a correspondent bank agreement with Ecobank International in France and the Bank of China in Johannesburg, following the decision by Commerzbank in Germany to review their pa...Published: 22 Feb 2016 at 16:26hrs | | by Mike Hamilton
NMBZ expecting a good performance in 2015
NMBZ is expecting a good performance in 2015, barring a significant deterioration in the economy, NMB Chief Executive, Ben Washaya has said. Washaya said the tough economic conditions con...Published: 22 May 2015 at 10:59hrs | 1 | by Ndou Paul
CBZ, ABC Holdings scoop top corporate governance awards
CBZ Holdings has won the 2014 trophy for the Best Governed Company on the Zimbabwe Stock Exchange, while ABC Holdings was awarded the trophy for the Best Governed Banking Institution. Fin...Published: 17 Nov 2014 at 12:28hrs | | by Mike Hamilton
NMB CEO resigns due to ill health
The Board of Directors of NMBZ Holdings has announced that Mr James A. Mushore will step down as Chief Executive Officer and Director of NMBZ Holdings and NMB Bank due to ill health, effective 31 Octo...Published: 27 Oct 2014 at 09:57hrs | | by Staff reporter
'Zimdollar return not a realistic option'
The reintroduction of the Zimbabwe dollar is not a realistic option available to this country in the short to medium term given the compelling need to increase liquidity in the economy, the Bankers A...Published: 08 May 2014 at 05:43hrs | | by Golden Sibanda
Zim banks to reduce lending
FINANCIAL institutions are most likely to reduce lending this year to minimise the risk posed by non-performing loans as was reflected in most banks' 2013 financials.ABC Holdings limited group...Published: 31 Mar 2014 at 10:23hrs | | by Business reporter
SA's Royal Bafokeng Nation eyes Trust Bank
TRUST HOLDINGS is on the verge of concluding a placement with a South African firm MOGS to raise $20 million to comply with minimum capital requirements and enhance liquidity in its banking unit. ...Published: 07 Nov 2013 at 02:43hrs | | by Staff reporter
Banks ripping off customers
AS the corporate reporting season for the financial year ended December 31 2012 draws to an end, the spotlight has been firmly focused on Zimbabwe's banks, with analysts saying the recently-published ...Published: 05 Apr 2013 at 06:08hrs | | by Staff reporter
NMB prioritises attaining minimum capital and raising more lines of credit
NMBZ will be focusing on attaining the $50 million capital threshold as its medium term target, group CEO James Mushore told an analyst briefing on Thursday. "Our medium term anchor is on...Published: 02 Apr 2013 at 11:17hrs | | by Business reporter
NMBZ shareholders approve placement of shares to offshore investors
NMBZ shareholders, unanimously voted for all the seven resolutions at an EGM held early this morning paving way for injection of new capital by offshore strategic institutional investors.Chair...Published: 19 Feb 2013 at 11:12hrs | | by Business reporter
NMBZ secures $16 million from offshore, to raise $50 million
NMB has secured $16 million new capital from foreign investors which will help the bank raise more lines of credit for deploying in areas such as mining and agriculture, group CEO James Mushore told a...Published: 13 Feb 2013 at 10:33hrs | | by Business reporter
Exhange control authority grants full fungibility to NMB shares
The Zimbabwean Exchange Control Authority, in terms of Exchange Control Regulations, has granted full fungibility to 40% of the company's issued shares that are held by foreign investors. The ...Published: 29 Jan 2013 at 06:57hrs | | by Mafu Sithabile
Robust set of results from NMBZ
A robust set of results by NMBZH showing attributable earnings of $4.5 million, up 6.6 folds, albeit off a low base. The robust performance can be attributed to the strong funded income growth as well...Published: 29 Mar 2012 at 09:32hrs | | by Business reporter
Zimbabwe Monetary Policy Statement – January 2012
The Reserve Bank of Zimbabwe (RBZ) yesterday released the January 2012 Monetary Policy Statement. The RBZ notes that despite the lack of a lender of last resort, illiquidity in the market, limited lin...Published: 01 Feb 2012 at 08:31hrs | | by Business reporter
Politics in Zimbabwe are not right at the moment: NMBZ chief
An improved set of interims from NMB with the attributable profit moving up to $2.1 million from a prior period loss of $1.7 million. The cost to income ratio improved to 78% from the prior period√Â...Published: 31 Aug 2011 at 08:55hrs | | by Nare Msupatsila
MBCA Bank to embark on further staff layoff programme
MBCA Bank, a commercial banking unit majority-owned by South Africa's Nedbank Group, is to embark on a further staff layoff programme after an initial one undertaken last year failed to cut the workfo...Published: 10 Jun 2011 at 07:50hrs | 3 | by Ndou Paul
Investor buys Econet shares at a bargain
AN investor bought 256 451 Econet shares worth US$1,3 million on Monday at a special bargain price of US480c — representing a US10c premium. The parcel beco...Published: 08 Dec 2010 at 17:11hrs | | by Bright Madera
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