US$4m offshore debt burden for ART Corporation

ART Corporation says it is saddled with an offshore creditors’ debt of over US$4 million and a monthly requirement of US$600 000, but the company is optimistic the new interbank forex trading system could help ease the burden.

RBZ financial inclusion facility surges to US$500m

THE Reserve Bank of Zimbabwe (RBZ) says its financial inclusion facility has ballooned to US$501 million with over 50% of the funds advanced to marginalised sectors of the economy in the form of loans.

Platinum project to get US$260m

Funding totalling of US$262 million will be allocated for working capital and equity by African Export-Import Bank (Afreximbank) and the African Finance Corporation (AFC) for the Darwendale platinum project, businessdigest has established.

‘GDP rebasing to lower insurance penetration’

THE rebasing of Zimbabwe’s gross domestic product (GDP) in 2018 will lower insurance penetration rate by 2,9%, an industry official has said.

Local banks join in money laundering fight: Mangudya

CENTRAL bank governor John Mangudya says local banks have reached acceptable levels in the implementation of Money Laundering and Proceeds of Crime Act requirements.

Investors pile into big caps

INVESTORS are carefully rebalancing their equities portfolio to include big caps as Zimbabwe’s economic and inflation outlook worsens.

Earnings surprises as reporting season nears

THE earnings season is officially upon us with companies with December year-end reporting periods expected to start releasing into the market anytime now.

Malaysia rejects aircraft deal reversal

MALAYSIAN Airlines has turned down the Zimbabwean government’s request to reverse a deal for the purchase of two Boeing 777 planes and threatened to take legal action for breach of contract, insiders said this week.

Property owners charge rentals in forex

PROPERTY owners are now demanding rentals in foreign currency as the local unit continues to rapidly lose value against the US dollar, businessdigest has learnt.

Stocks set to give up gains

STOCKS are seen giving up gains this year, a research firm says.

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