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Old Mutual Zimbabwe to develop Hwange Town Centre
HWANGE Local Board has entered into an agreement with Old Mutual Zimbabwe for the development of a town centre, which will encompass the establishment of an estimated US$50 million Civic Centre, an of...Published: 03 Feb 2019 at 09:07hrs | 1305 | by Staff Reporter
'Zimbabwe inflation second only to Venezuela '
ZIMBABWE'S inflation rate has hit 290 percent – the second highest in the world after Venezuela (reportedly 80,000 percent at the end of 2018), United States economist and currency expert Steve Hank...Published: 28 Jan 2019 at 10:57hrs | 1096 | by African News Agency
ZSE counter opens strong
The Zimbabwe Stock Exchange (ZSE) opened the week strong, registering a 124% jump in turnover to $5,15 million from last week.Trading on the market was disturbed in the wake of labour unrest, ...Published: 23 Jan 2019 at 11:24hrs | 63 | by Staff reporter
Zimbabwe annual inflation rate surges to 236%
Renowned United States economist and currency expert Steve Hanke says Zimbabwe's annual inflation rate is at 236 percent, much higher than the official figure of 42,09 percent published by Zimbabwe Na...Published: 19 Jan 2019 at 11:51hrs | 1185 | by Staff reporter
Bid to loot Nkulumane Shopping Mall thwarted
BRAVE vendors operating from Nkulumane bus terminus have emerged as heroes after repelling violent protestors who wanted to loot shops at Nkulumane Shopping Complex in Bulawayo on Monday and Tuesday. ...Published: 19 Jan 2019 at 11:15hrs | 711 | by Staff reporter
ZSE charms investors
STOCKBROKERS Association of Zimbabwe vice-president Arnold Dhlamini expects higher trading on the Zimbabwe Stock Exchange (ZSE) due to a rise in inflationary pressures from the recent fuel increases....Published: 17 Jan 2019 at 07:29hrs | 159 | by Staff reporter
Zimbabwe's woes deepen
Not having a currency of its own hasn't stopped Zimbabwe from sliding into a currency crisis.A scarcity of foreign exchange has led to long queues for fuel, bread and medicine and sent prices ...Published: 15 Jan 2019 at 12:56hrs | 1340 | by Bloomberg News
Jonathan Moyo's lies on Masiyiwa exposed?
On Monday exiled Former G40 Kingpin Professor Jonathan Moyo wrote a scathing statement on Twitter seeking to expose how Telecoms Guru Strive Masiyiwa funded ZANU PF campaign during the bloody 200...Published: 09 Jan 2019 at 13:07hrs | 4633 | by Mandla Ndlovu
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...Published: 08 Jan 2019 at 20:58hrs | 184 | by Staff reporter
Life assurance profits down 63% in Q3
ZIMBABWE'S life assurance industry recorded 68 % decline in after tax profits to $314,85 million in the nine months to September 2018 compared to $979,27 million during the same period in 2017, the in...Published: 08 Jan 2019 at 09:20hrs | 120 | by Staff reporter
Strive Masiyiwa's Econet stranglehold challenged as shareholder tussle breaks out
AFTER years of brutal hyperinflation, Zimbabwe became known as a place where cash was almost worthless. Now, investors are fighting over EcoCash, the country's homegrown PayPal-like service that has z...Published: 03 Jan 2019 at 09:32hrs | 5163 | by Gabriele Steinhauser I The Wall Street Journal
CABS merge branches
CABS is merging its Greendale and Chisipite branches with effect from February 25 as a way of enhancing its digitalisation efforts.In a statement, the bank which boasts of more than 50 branche...Published: 02 Jan 2019 at 14:25hrs | 1458 | by Staff reporter
Foreigners blamed for causing fuel crisis in Zimbabwe
Foreigners who are smuggling fuel outside of Zimbabwe are causing increased demand which is contributing to its scarcity.Government said it will institute long term solutions to ensure adequat...Published: 25 Dec 2018 at 07:40hrs | 8273 | by Staff Reporter
'Mthuli Ncube's budget is a waste of time'
IT is a great pleasure to debate the 2019 national budget. This budget, Honourable Speaker Sir, could not have come at a time of greater fragility and greater vulnerability of our country....Published: 23 Dec 2018 at 09:14hrs | 1414 | by Tendai Biti
Entrepreneurship, the new spirit of Zimbabwe
The turn of the 21st century was not good for Zimbabwe as the country was slapped with illegal sanctions by the west which led to the closure of many industries. Despite going for nearly two decades w...Published: 21 Dec 2018 at 13:53hrs | 1411 | by Elijah Chihota
Dollars vs Zollars
Government's insistence on a fixed 1:1 exchange rate has continued to create headaches for companies who have to report within prescribed accounting standards. This comes as the US dollar, ado...Published: 06 Dec 2018 at 06:30hrs | 4297 | by Reuters
Chamisa's sign language interpreters get thumps up
Nelson Chamisa has been hailed by deaf groups for providing sign language interpretation on stage during his latest rallies.Chamisa, who addressed a bumper crowd at a rally held in Beitbridge ...Published: 05 Nov 2018 at 13:39hrs | 2987 | by Staff reporter
Children of War Vets bay for Masiyiwa's blood
Children of War Veterans Associations has came out guns blazing accusing Strive of corruption and manipulating shareholding of a number of companies in a dubious manner. Read the full open letter to M...Published: 04 Nov 2018 at 08:04hrs | 4353 | by Mandla Ndlovu
Zimbabwe official inflation misleading
Zimbabwe's official inflation is misleading and does not reflect the price increases of goods and services consumers are witnessing, a leading equities firm has said.The country's annual infla...Published: 30 Oct 2018 at 06:02hrs | 2316 | by Staff reporter
Fierce crackdown on parallel market drops forex rate
A fierce government crackdown on illegal forex dealers, increased electronic surveillance of bank accounts, deployment of state security agents and arrests of individuals suspected to be at the centre...Published: 26 Oct 2018 at 08:13hrs | 6184 | by Staff reporter
Zimbabwe goes it alone on Chirundu-Harare-Beitbridge Highway dualisation
GOVERNMENT has decided to go it alone and dualise the Chirundu-Harare-Beitbridge Highway while talks with Chinese Anhui Foreign Economic Construction Group Limited (Afecc) for the $2 billion tender co...Published: 18 Oct 2018 at 06:37hrs | 3176 | by Staff reporter
Nedbank buying back shares from minority shareholders
NEDBANK Group (Nedbank) says it will pay R2 billion (approximately US$139,6 million) to minority shareholders inherited from Old Mutual.The South Africa-based financial institution, which owns...Published: 17 Oct 2018 at 16:02hrs | 595 | by Staff reporter
ZSE shares in significant fall
Zimbabwe Stock Exchange shares fell significantly on Monday in continued self-correction following a panic-induced rally last week which saw the market trade in unchartered territories. A...Published: 16 Oct 2018 at 06:42hrs | 1304 | by Staff reporter
Zimbabwe inflation hits 155%
Government has triggered a storm after forging ahead to effect a draconian two percent tax on electronic transactions through a process legal experts say is unlawful.This comes as financial in...Published: 14 Oct 2018 at 13:07hrs | 7720 | by Staff reporter
Mthuli Ncube says Zimbabwe economy will stabilise, price shocks are transitory
Finance and Economic Development Minister Professor Mthuli Ncube has said the price shocks that were recently experienced by the market are temporary as the economy adjusts to the new policies, which ...Published: 14 Oct 2018 at 08:12hrs | 5346 | by Staff Reporter
Rush to offload bond notes triggers stocks rally
Stocks rallied this week as investors rushed to get rid of cash and electronic balances and took positions in equities after the accelerated devaluation of the local currency triggered by government's...Published: 12 Oct 2018 at 07:34hrs | 4079 | by Staff reporter
Mthuli Ncube opens his mouth, foreign currency rates soar
The bond note has continued to lose ground on the black market with its rates hitting 180 percent to the United State Dollar (USD) this week compared to October 1's 106 percent.On October 1, a...Published: 09 Oct 2018 at 14:41hrs | 9327 | by Staff reporter
Old Mutual Two Oceans Marathon announces 2018 final results ahead of their 50th anniversary campaign launch
(South Africa, 5 October 2018) With just one month before entries open for the Old Mutual Two Oceans Ultra Marathon, the OMTOM team has been given the green light to publish the results of the 201...Published: 05 Oct 2018 at 09:38hrs | 382 | by Two Oceans Marathon NPC
Chamisa says bond note must go
MDC president Nelson Chamisa has called for the urgent removal of the bond note, saying the surrogate currency has worsened the economic crisis gripping the country.In a recent tweet, the MDC ...Published: 01 Oct 2018 at 18:05hrs | 6949 | by Staff reporter
Removal of Old Mutual shares begin after a 2 week suspension
Removal of Old Mutual shares from Zimbabwe, South Africa and the United Kingdom register started today after a two-week suspension due to a corporate event.Old Mutual share movement to other r...Published: 24 Sep 2018 at 20:19hrs | 874 | by Staff reporter
Obert Mpofu denies growing rich off govt corruption
Zanu-PF secretary for administration Obert Mpofu sits down for a wide-ranging interview with the Daily on Sunday's Mugove Tafirenyika. Find below excerpts of the interview.Q: Zanu-PF has intro...Published: 23 Sep 2018 at 14:28hrs | 2047 | by Staff reporter
Econet celebrates 20 years of ZSE listing
Econet Wireless Zimbabwe yesterday reached a major milestone after completing 20 years since its shares were listed and first publicly traded on the Zimbabwe Stock Exchange (ZSE); a month after Zimbab...Published: 18 Sep 2018 at 06:17hrs | 81 | by Staff reporter
Old Mutual opens eighth one-stop-shop branch in Chinhoyi
Chinhoyi, Zimbabwe - One of Zimbabwe's largest financial service companies, Old Mutual, today opened their eighth one-stop-shop branch in Chinhoyi to offer clients their main financial and banking ser...Published: 17 Sep 2018 at 12:28hrs | 1357 | by Agencies
ZSE ignores 'Mthuliphoria'
The Zimbabwe Stock Exchange (ZSE) slipped into the red unperturbed by the excitement showing across markets on the appointment of new treasury chief, Mthuli Ncube, it has emerged.Slipping into...Published: 15 Sep 2018 at 21:48hrs | 1289 | by Staff reporter
Mthuli Ncube embarks on stakeholder listening & consulting roadshow
Minister of Finance and Economic Development Professor Mthuli Ncube embarks on stakeholder listening and consulting roadshow, starting with private meeting with fifty captains of industry.&nbs...Published: 12 Sep 2018 at 12:46hrs | 8237 | by Agencies
Pumula South residential stands sold out
DIVERSIFIED financial services group, Old Mutual Zimbabwe, has sold out residential stands under Phase 1 of its Pumula South project in Bulawayo.The Old Mutual Zimbabwe group is developing 1 0...Published: 29 Aug 2018 at 06:38hrs | 254 | by Staff reporter
Pumula South residential stands sold out
Diversified financial services group, Old Mutual Zimbabwe has sold out residential stands under Phase 1 of its Pumula South project. In Bulawayo, the Old Mutual Zimbabwe group was developing 1...Published: 28 Aug 2018 at 08:58hrs | 2272 | by Staff Reporter
Old Mutual investment returns on listed equities down
Old Mutual Zimbabwe (Old Mutual) has reported that profit after tax tumbled 40% to $53,9 million in the first half of 2018 from $89,3 million in the comparable period last year mainly due to a decline...Published: 23 Aug 2018 at 06:46hrs | 298 | by Staff reporter
Old Mutual half year operating profit up 27%
Old Mutual Zimbabwe's Group CEO has announced, during the company's half-year analyst briefing, an operating profit of $34.3 million representing growth of 27% for the first half of 2018....Published: 21 Aug 2018 at 16:00hrs | 409 | by Agencies
Old Mutual repositions its brand and readies for growth
Following its primary listing on the Johannesburg Stock Exchange (JSE), and secondary relisting on the Zimbabwe Stock Exchange in June 2018, Old Mutual has unveiled a vibrant new brand identity, to re...Published: 21 Aug 2018 at 15:52hrs | 419 | by Agencies
Vingirai to regain control of seized banking assets
VETERAN banker Nicholas Vingirai stands to regain full control of his banking assets which were controversially seized by government in 2004 and later sold to ZB Holdings, once a deal to split the int...Published: 10 Aug 2018 at 11:32hrs | 1163 | by Staff reporter
Old Mutual set to build low cost houses
OLD Mutual Group has unveiled plans to construct 3 000 low-cost houses in Bulawayo over the next three to four years to complement council efforts to reduce the city's housing backlog currently pegged...Published: 07 Aug 2018 at 07:29hrs | 382 | by Staff reporter
New hotel facility for Harare CBD
Zimbabwe's capital city is set for a major facelift, in view of plans by a yet to be named developer expected to construct a multi-use complex in Harare's central business district (CBD). The ...Published: 07 Aug 2018 at 07:11hrs | 660 | by Staff reporter
Africa's customer experience experts descend on Cape Town
Cape Town, July 27, 2018: Africa's top customer experience experts are gathering Cape Town for the 7th annual Customer Experience Management Africa Summit, held at the Cape Town International Conventi...Published: 27 Jul 2018 at 07:59hrs | 126 | by Agencies
International community no to rubber stamping on election outcome
The world at large is focused on Zimbabwe if we are going to have the free ,fair and credible election as a country. It seems passing the test of credibility is far from being achieved. Only few days ...Published: 26 Jul 2018 at 15:37hrs | 1737 | by Enos Denhere
Simba Mhuriro, The most decorated young entrepreneur in Zimbabwe
Great moments are born from great opportunity.If you can imagine it ,you can achieve it. If you can dream it , you can become it. No matter where you are today .It should be not the yardstick to deter...Published: 06 Jul 2018 at 13:34hrs | 2210 | by Enos Denhere
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 econom...Published: 05 Jul 2018 at 10:50hrs | 976 | by Staff reporter
Old Mutual's centre to jumpstart informal sector
ZIMBABWE Stock Exchange-listed financial services group, Old Mutual, says its $21,4 million state-of-the-art small to medium enterprises (SMEs) Eastgate Market in Harare would be opened next month....Published: 05 Jul 2018 at 07:09hrs | 282 | by Staff reporter
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 | 893 | 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 | 597 | by Staff reporter
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