News about Zimbabwe that you can use
Nigel Chanakira’s Kingdom Bank Africa Limited is technically insolvent, with liabilities of $19 million against assets worth $5.2 million, a report by the bank’s temporary manager has shown.
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In what could turn out to be a bruising battle reminiscent of the purge in the run-up to the Zimbabwe African National Union-Patriotic Front congress last year which saw a number of heavyweights fall by the wayside, Masvingo Provincial Affairs Minister Shuvai Mahofa could be heading for a show down with Tourism Minister Walter Mzembi.
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ABC Holdings (ABCH) has secured a $50 million loan from the African Development Bank Group’s (AfDB) private sector funding to expand its small and medium enterprises (SMEs) portfolio.
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Shareholders of the telecommunications company Telecel Zimbabwe have approached the government to resolve issues surrounding its licencing and non-compliance with local ownership regulations, the company said today.
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The Tetrad creditors’ meeting last Wednesday had a distinctly senior look, unsurprisingly so considering the sizeable number of pensioners who saved and invested with the institution.
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Mobile phone calls will be cheaper when service providers share infrastructure, the Minister of Information Communication Technology Supa Mandiwanzira said yesterday.
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Central bank governor John Mangudya says the country must focus on stabilising the economy, one sector at a time, with the resources industry the initial target.
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Zimbabwe will bring all diamond mining operations in the country under one firm in which the state will have a 50 percent shareholding, mines minister Walter Chidhakwa announced today, adding that the miners have until Monday to accept the proposal.
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