Archive | Business

Perimeter wall at the Econet Wireless head offices in Msasa, Harare.

Econet major shareholder grabs 26%

ECONET Wireless Zimbabwe’s majority shareholder has snapped up 26% of the rights issue shares, increasing its shareholding in the country’s largest mobile phone company to nearly 40% as cash-strapped local […]

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Heads set to roll at ZBFH AGM

ZB Financial Holdings (ZBFH) has given in to pressure from its largest shareholder the National Social Security Authority (Nssa) to convene an annual general meeting (AGM), where heads are expected […]

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Zamco rescues banks from debts

A SPECIAL purpose vehicle, set up by the Reserve Bank of Zimbabwe to hive off bad loans from banks, has rescued local banks, particularly indigenous-owned ones, which were struggling with […]

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In the eye of an irregular financial externalisation storm ... A partial view of the Freda Rebecca Gold Mine in Bindura.

ASA stock plunges on London bourse

Asa Resource Group Plc share price plunged 46% in Tuesday’s trade on the London Stock Exchange following disclosures US$4,3 million was unaccounted for at the group’s Zimbabwe gold operation, Freda […]

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Businessman and former African Sun chief executive Shingi Munyeza

Govt has to curb rising fiscal deficit

Government has to curb a rising fiscal deficit by embarking on aggressive austerity measures and trigger the supply side of the economy, prominent businessman Shingi Munyeza has said.

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An AirZim flight taking off

AirZim planes grounded

STRUGGLING national flag carrier Air Zimbabwe (AirZim) has lurched into a new crisis after all of its five aircraft were grounded on Tuesday due to technical problems, forcing the airline […]

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Barclays deal gathers momentum

MALAWI-BASED First Merchant Bank is conducting due diligence on Barclays Bank Zimbabwe to ensure the affairs of the local financial institution are in order before a US$60 million purchase deal […]

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Suspended Zimra commissioner-general Gershem Pasi

Zimra boss Pasi’s fate expected soon

SUSPENDED Zimbabwe Revenue Authority (Zimra) commissioner-general Gershem Pasi is expected to know his fate on several allegations, including corporate governance malpractices, massive corruption, fraud and tax evasion that allegedly prejudiced […]

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A production line at Afdis

Cash shortages hit Afdis operations

ZMBABWE Stock Exchange-listed wine and spirit maker African Distillers (Afdis) is battling to source raw materials for its product range owing to an acute shortage of foreign currency on the […]

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