Stories

Ecobank Zimbabwe reported a 38 percent growth before tax to $3.3 million for the full-year ended 31 December 2014 driven by growth in deposits.

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Building materials manufacturer Turnall Holdings’ loss widened to $11.9 million in the full year to December from $4.3 million previously on weakening sales and poor export performance, but discrepancies raised by an external audit have led the company to restate its financials from two previous years.

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Movement for Democratic Change leader Morgan Tsvangirai today called on Zimbabweans to pray for President Robert Mugabe ad his government to become a God-fearing leadership that can truly serve the people and not harm them.

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Shingi Munyeza who left his position as African Sun group chief executive yesterday, says he will remain active in the tourism industry with his family business.

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Private equity investment and advisory firm, Brainworks Capital Management has made a proposal to African Sun’s minority shareholders as the company seeks to acquire the hotelier’s remaining issued share capital on the day chief executive Shingi Munyeza left the company.

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Hospitality group African Sun has recorded a six percent growth in revenue for the five months to February compared to the same period last year due to the growth in its Ghana business, outgoing group chief executive Shingi Munyeza said yesterday.

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Barclays Bank Zimbabwe’s after tax profit for the full year to December doubled to $6.6 million from  improved interest income despite recording a 17 percent fall in deposits.

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Local firms should review their business models in response to the current challenges that the country is facing and prioritize crisis management to remain afloat, an industry expert has said.

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Zimbabwe has registered a nearly five-fold increase in exports to the European Union to $153 million buoyed by diamond exports to Belgium and reengagement efforts between the southern African nation and the bloc, latest trade figures from the International Trade Centre have shown.

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The Tsvangirai faction of the Movement for Democratic Change today said the wheels have virtually come off in Zimbabwe.  President Robert Mugabe, who has been hopping from one jet to another, is no longer in control of the levers of State power. Instead, a shadowy, Mafia-like gang is now running the country.

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