Struggling MetBank has reduced its losses to $130 000 in the six months to June from $3.5 million registered in the same period last year, the bank said.
President Robert Mugabe’s continued stay in power and the stifling of debate on who is going to succeed him has fuelled speculation about his successor with one online publication saying former central bank governor Gideon Gono is still a major contender.
Zimbabwe’s electricity shortages are set to worsen after the power utility today reduced output at its two main plants, Kariba hydro and Hwange thermal, due to low water levels and maintenance.
Global banking group Standard Chartered Plc’s Zimbabwean unit reported pre-tax profit of $1.2 million in the six months to June 2015, a decrease of 85 percent from a profit of $8.1 million a year earlier.
Nigerian magnate Aliko Dangote, reported to be Africa’s richest man, says he is looking to invest in coal mining and power generation in Zimbabwe, apart from setting up one of his group’s biggest cement plant in the country.
BancABC Zimbabwe’s parent company, Atlas Mara, has registered $4.1 million after tax profit in the half-year to June compared to a loss of $3.2 million reported for the prior year period.