adminSteelnet assets go under the hammer
SUSPENDED Zimbabwe Stock Exchange- listed firm Steelnet Zimbabwe’s assets will soon go under the hammer after the High Court granted the company’s final liquidation at the beginning of the month.
Rights trust in bid to overhaul pensions law
By a Special CorrespondentZimbabwe Pensions and Insurance Rights Trust has proposed an overhaul of insurance and pension legislation in a bid to protect pensioners.
In a letter to the Secretary of Finance dated May 24 2013, copied to Minister of Finance Tendai Biti, the Zimbabwe Pension and Insurance Rights Trust proposed major changes to
Mining dominates export earnings
Business ReporterThe mining industry has continued to significantly increase the country’s exports contributing 71 percent of the total exports for the four months to April 2013.
Finance Minister Tendai Biti in his State of the Economy address on Tuesday said mining had contributed US$719,9 million to the US$1 billion earned from exports.
BancABC offers to buy minority shares
Business ReporterAFRICAN Development Corporation, a controlling shareholder in the dual-listed ABC Holdings, is making a mandatory offer to buy shares of all minority shareholders after it gained the majority stake following underwriting the regional banking group’s US$50 million right offer last year.
Broad money supply dips
Pauline Mhuka Business ReporterThe annual broad money growth rate declined from 12,91 percent in February 2013 to 10,47 percent in March 2013, representing a deceleration of 2,44 percentage points, Finance Minister Tendai Biti said on Tuesday.
‘Firms debt crisis reflects industry problem’
Jeff Gogo Business CorrespondentTHE debt crisis at Art Corporation Ltd reflects a wider underlying industry problem that previous across the sector recapitalisation did not do go far enough.
It failed because the money raised neglected core operations, but was used to retire expensive borrowings. Since dollarisation in 2009, at least 12 listed companies have sought
MFIs keen to upgrade
Microfinance institutions are keen to upgrade their licences to microfinance banks which the central bank plans to licence soon.The Reserve Bank of Zimbabwe announced early this year that it would be licensing deposit taking microfinance institutions in a bid to ensure that the majority of people are
GMB appeals for funds
Elita Chikwati Agriculture ReporterGrain Marketing Board chairman Mr Charles Chikaura has appealed to Government to release funds to achieve the target maize intake of 100 000 tonnes during the 2013/14 marketing season.