CBZ nine months profit
Tapiwanashe Mangwiro Financial services group CBZ Holdings reported a profit after tax of $636,6 billion for the 9 months to September 30, 2023, representing a 696 percent inflation-adjusted increase...
View ArticleZim engages AfDB for help on infrastructure
Oliver Kazunga Senior Business Reporter THE Government has engaged the African Development Bank (AfDB) for technical assistance to improve the country’s Gross Domestic Product (GDP) through...
View ArticleA terrible week for mining in SA, as layoffs accelerate
It’s been a terrible week for mining, with 11 workers killed in a mine shaft accident at Impala’s Rustenburg operations, while several mining companies announced plans to cull jobs amid a commodities...
View ArticleDrafting service contracts
Godknows Hofisi The use of contracts for the provision of commercial services is used widely in business. Some of the services include engineering, maintenance, information technology (IT), human...
View ArticleNo strength in Varun’s claims against energy drink imports
Tapiwanashe Mangwiro Senior Business Reporter Varun Beverages has failed in its bid to push for regulatory intervention against “imported” energy drinks it claimed posed unfair competition on the...
View ArticleWhat is Africa’s goal at COP28 climate summit?
As the 28th edition of the Conference of the Parties (COP), the world’s foremost climate summit, begins in the United Arab Emirates tomorrow and runs until December 12, 2023, Africa is grappling with...
View ArticleFirm secures US$120m for Afrochine solar plant
Nelson Gahadza Senior Business Reporter African Transmission Corporation Holdings (ATC), which specialises in infrastructure project financing, says it has reached financial closure for about US$120...
View ArticleLondon-based US$3bn fintech Verto in Kenya
Verto, a fintech and payment solution founded in London has come to an agreement with the United Bank of Africa (UBA) to provide a platform for financial transactions for Kenyan entrepreneurs,...
View ArticleAfDB grants Kenya US79,6m for economic recovery
The African Development Bank granted Kenya a €73 million (US$79,6m) loan to aid Phase III of the Competitiveness and Economic Recovery Support Programme, with the funding extending through the fiscal...
View ArticleAfDB grants Kenya US79,6m for economic recovery
The African Development Bank granted Kenya a €73 million (US$79,6m) loan to aid Phase III of the Competitiveness and Economic Recovery Support Programme, with the funding extending through the fiscal...
View ArticleMore support to key value chains
FINANCE, Economic Development and Investment Promotion Minister Professor Mthuli Ncube has pledged to increase support towards productive value chains, as the Government seeks ways to transform the...
View ArticleOmnia Zim half-year revenue drops 56,5pc
Fertiliser distributor, Omnia Zimbabwe, says its business recorded a 56,5 percent revenue decline during the 2024 half-year period to September 30, 2023, weighed down by hyperinflationary conditions,...
View ArticleNigerian banks face new recapitalisation demands
Recently, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced that the apex bank would recapitalise Nigeria's Deposit Money Banks (DMBs).
View ArticleYear-end inflation seen below 20pc
Zimbabwe’s annual inflation rate is expected to end the year slightly below 20 percent and to range between 10 percent and 20 percent in 2024 on the back of continued tight monetary and fiscal...
View ArticleIMF, World Bank back Zim reform agenda
Wallace Ruzvidzo-Herald Reporter THE International Monetary Fund (IMF) and the World Bank (WB) have pledged to support Zimbabwe’s current development and growth trajectory, in a vote of confidence for...
View ArticleAU moves to recover Africa’s ‘stolen’ assets
The African Union (AU) on Thursday formally adopted the Common Africa Position on Asset Recovery (Capar) during the 45th AU Advisory Board Against Corruption (AUABC) meeting held in Arusha, Tanzania....
View ArticleKenya defies the odds, car use rises despite inflation
Despite Kenya’s inflation, people in the country are using more cars now than they have in recent years, as indicated by the increase in the number of registered vehicles in the first nine months of...
View ArticleNigerian senate probes Dangote and 13 oil firms
The senate panel has warned of reporting the oil and gas companies to the Economic and Financial Crimes Commission (EFCC) if found guilty of misappropriating the intervention loan. The Chairman of the...
View ArticleEthiopia secures US$1,5bn debt relief
Ethiopia’s central bank chief said the cash-strapped Horn of Africa nation has secured a UD$$1,5 billion debt relief agreement with creditors. The move temporarily eases Ethiopia’s financial burden as...
View ArticleGovt seeks US$330m to cover budget deficit
Business Reporter THE Government is negotiating external loans worth US$330 million to finance the national budget gap for 2024, according to a report on public debt released by the Treasury last week....
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