Agribank posts $2,1m FY profit

HARARE – The Agricultural Bank of Zimbabwe (Agribank) has recorded a $2,16 million profit after tax for the half year ended June 30, 2016 mainly driven by four strategies the bank implemented during the six months under review. Agribank’s chief executive Mr Sam Malaba...
Posted On 18 Aug 2016

PANAMA PAPERS: Illicit financial outflows affecting Zim tourism

HARARE – Zimbabwe’s tourism sector could be losing millions of dollars to illicit financial flows with some tour operators in the country apparently involved in offshore financial transactions. Although the country’s tourism sector accounts for around 10 percent gross domestic...
Posted On 18 Aug 2016

Trust Bank assets to be auctioned to pay depositors and creditors

Harare– Assets belonging to closed Trust Bank Corporation, which is under liquidation, will next week go under the hammer as the Deposit Protection Corporation (DPC) moves to mobilise funds to compensate depositors and creditors affected by closure of the financial institution....
Posted On 18 Aug 2016

Proplastics FY revenue slides

BH24 Reporter HARARE – Plastic pipes and fittings manufacturing firm Proplastics has reported an 11 percent dip in revenue to $5,87 million for the half-year to June, 30 2016. The depressed performance was on the back of reduced selling prices. Management said the reduced selling...
Posted On 18 Aug 2016

NMB Bank launches ‘NMBlite’

BH24 Reporter HARARE – NMB Bank has launched a low cost bank account – NMBlite – with no monthly bank charges, as part of its financial inclusion drive. A Zimswitch-enabled NMB Access debit card issued to NMBlite account holders can be used to draw money from
Posted On 17 Aug 2016

Barclays posts $3,3 million profit

Barclays Bank Zimbabwe Limited recorded a $3,3 million profit for the half-year ended June 30, 2016 despite challenges in the business environment which are expected to continue during the second half.
Posted On 12 Aug 2016

Caledonia contribution to Zim economy increases

Harare-Payments to the Government by Canadian based Caledonia Mining Corporation, which owns 49  percent stake in Blanket Mine in Gwanda, Matabeleland South province,  for the quarter ended June 30 this year, increased by $878 000 to $2,963 million.
Posted On 11 Aug 2016

NMBZ’s foreign shareholders restructure

HARARE – Listed financial institution, NMBZ Holdings’ foreign shareholders FMO of the Netherlands and Norfund of Norway have partnered Rabobank of the Netherlands to pool their investments in financial institutions across Africa.
Posted On 04 Aug 2016

RBZ targets 30 000 POS machines by Dec

HARARE – The Reserve Bank of Zimbabwe (RBZ) says it is targeting to boost the number of Point-of-Sale (POS) machines in the country by 50 percent by year-end.
Posted On 04 Aug 2016

NSSA gets new boss

THE National Social Security Authority (NSSA) board has appointed former Minerals Marketing Corporation of Zimbabwe CEO Ms Elizabeth Chitiga as the new chief executive.
Posted On 03 Aug 2016