adminNOIC declares US$1m dividend to Mutapa fund
Nelson Gahadza Senior Business Reporter The National Oil Infrastructure Company of Zimbabwe (NOIC) has declared a US$1,050 million dividend to the Mutapa Investment Fund (MIF) after performance exceeded expectations in 2022…
IMF cuts SA’s 2024 growth forecast
The International Monetary Fund (IMF) downgraded its economic growth forecasts for South Africa, warning that logistical challenges are constraining activity and acting as a drag on the entire region. Africa’s…
NetOne to install data, internet infrastructure
Michael Tome Business Reporter STATE owned mobile phone operator NetOne intends to deploy additional capital this year towards installation of data and internet service infrastructure, as data traffic continues to dominate…
Naira plunges 31pc, new rate closer to street rate
Nigeria’s naira plunged to a record against the dollar following a revision of the methodology used to set the exchange rate, in effect the second devaluation of the currency in…
Russian banks make record US$36,8bn
Russian banks made 3,3 trillion rubles, or US$36,8 billion profit, last year, marking a record high, the country’s central bank announced on Tuesday. The performance came as somewhat of a…
Arbitration over commercial disputes
Godknows Hofisi Commercial disputes are common and vary in nature and complexity. In simple terms a commercial dispute refers to disagreements over commercial arrangements or contracts. This is usually over…
Zimre bullish over regional business
Business Reporting ZIMRE Holdings says a strong balance sheet resulting from consolidation of its regional insurance operations will encourage injection of fresh capital and bolster the regional business units’ underwriting…
Dangote outperforms Bill Gates, others as he crosses $20bn mark
Africa’s richest man, Aliko Dangote has kicked off the year on a good note. While starting the year off as the continent’s second richest man, he quickly regained his status…
US firms lay off thousands amid recession concerns
A slew of companies across the tech, media, finance, and retail industries made significant cuts to staff in 2023. Tech titans like Google and Meta, finance giants like Goldman Sachs,…
Drummer Gallie Dies
Drummer Gallie Ncube has passed away after a long illness. Gallie, also known as “Mr. Ceremony” or “The Senior Man”, was 53 years old. During his life, he contributed his…