Comment: Meikles should hold up its end of the bargain

The report that Meikles Limited has received $89 million in the form of Treasury Bills from the Reserve Bank of Zimbabwe as payment for a loan given to the central bank at the height of hyperinflation is welcome. It is always good news when our cash strapped Government makes an...
Posted On 14 Oct 2014

Gold: ‘near-term outlook uncertain…long-term prospects glorious’

I’ve taken the title of this piece from within an email from New York precious metals analyst Jeff Nichols introducing his latest commentary entitled – Is now a good time to buy gold? In it Nichols states that he is no gold bug in that he is not a believer that a...
Posted On 14 Oct 2014

Japanese stocks, U.S. bond yields fall on growth concerns

Japanese stocks skidded to two-month lows on Tuesday as heightened concerns about the health of the world economy unnerved investors, triggering a shift in funds to safe havens such as U.S. bonds. Japan’s Nikkei share average.N225 fell 2.4 percent, hitting levels last seen...
Posted On 14 Oct 2014

Credit Suisse backs Rio Tinto

Diversified mining group Rio Tinto Plc has been added to the “Top Picks” list run by Credit Suisse Private Banking and Wealth Management research unit. This was part of a reshuffle which saw Saint-Gobain and Ericsson being taken off the list last week and replaced by...
Posted On 14 Oct 2014

Africa Oilfield Logistics To List in Kenya’s Stock Exchange

VENTURES AFRICA – Support services company Africa Oilfield Logistics has announced that it plans to sell up to 10 percent of its enlarged share capital via the listing and a private placement in Kenya’s Nairobi Securities Exchange. The company, however , did not say...
Posted On 14 Oct 2014

Telecom Giant Glo Sits Atop Ghana’s Soaring Mobile Data Subscription

VENTURES AFRICA – Figures released by Ghana’s National Communication Authority shows a fast growing subscriber base of mobile data in the country with Nigeria-headquartered Globacom leading the list of highest gaining telecommunication companies. The statistics of the...
Posted On 14 Oct 2014

Mzi Khumalo wants expansion into Zimbabwe’s platinum

The founder of Zimbabwe’s largest gold-mining group wants to start platinum operations in the country. Zimbabwe has the world’s largest reserves of the metal after South Africa. “We clearly have aspirations to be in the platinum business, but it will be here in...
Posted On 14 Oct 2014

Meikles receives second RBZ treasury Bills

By Rumbidzayi Zinyuke Diversified group Meikles Limited will seek to restructure its activities in Zimbabwe and South Africa after receiving $89 million from the Reserve Bank of Zimbabwe as the final payment of the money borrowed to the Central Bank in support its quasi-fiscal...
Posted On 14 Oct 2014