News

The Southern African Reinsurance Company (SARE) had positive results for the year ending December despite negative fundamentals. Its net profit for the year increased from $189.4 million to $3.2 billion.…

Though volumes declined by 6 percent and exports by 21 percent, British American Tobacco (BAT) Zimbabwe Holdings still saw its turnover increase from $10.1 billion in 2002 to $65.4 billion…

CFX Merchant Bank, which recently merged with troubled Century Bank, had a good performance last year despite the turmoil in the financial sector. The bank saw its interest and discount…

Zimbabwe's food saga has taken a new twist with one report saying that contrary to claims by the government that the country has enough food, this year's harvest is going…

The high inflation that peaked at 619 percent in November last year before declining to $598 percent in December forced some corporate clients to revise sums insured on major productive…

Former conglomerate TA Holdings, which has now been trimmed to focus on insurance, hotels and agro-chemicals, had an excellent year boosted by its associate companies which brought in profits of…

Circle Cement, probably the country's second largest cement producer, had a dramatic turnaround from a loss of $862.3 million in 2002 to a profit of $9.8 billion, largely because of…

The Merchant Bank of Central Africa, which says it sticks to principles of openness, integrity and accountability and conducts its affairs with care and in good faith, safeguarding its stakeholders'…

Clothing retail group Edgars Stores had a five-fold increase in sales during the year ended January 3 despite an acute shortage of cash for most of last year until the…

ReNaissance Merchant Bank, which started operations in 2002, had a net profit of $13.7 billion, up from $1.2 billion in 2002. And it is in such a financially sound condition…