Chronicle Editor
GOVERNMENT says it has engaged the International Finance Corporation (IFC) over a possible investment into the National Venture Capital Fund.
Last November Treasury announced plans to set up a National Venture Capital Fund that would work to provide venture capital financing to start-ups and small to medium enterprises with strong growth potential.
Secretary in the Ministry of Finance and Economic Development, George Guvamatanga, told the Parliamentary Portfolio Committee on Youth, Sports, Arts and Recreation that the engagement with the IFC also extended to managing the fund and/or provision of technical support.
The IFC is an international financial institution, (an arm of the World Bank) that offers investment, advisory and asset-management services to encourage private-sector development in less developed countries.
The All Share index recovered 10.31 points (2,17 percent) to close at 484.37 points. Old Mutual Limited led the movers with a significant rise of $7,4903 to $45,5000, Hippo added $1,200 to settle at $7,2000 and Meikles was $0,6167 stronger at $7,8500. Delta also moved up by $0,3735 to $6,6628 and Innscor rose by $0,1503 to end at $8,0008. Gains were partially offset by losses in BAT which eased $1,1503 to close at $95,8497, Bindura lost $0,0824 to $0,4019 and Amalgamated Regional Trading was $0,0534 weaker at $0,4300. Edgars also decreased by $0,0500 to $0,3800 and Dawn traded $0,0200 lower at $0,1100.
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