News about Zimbabwe that you can use
Atlas Mara, the London-listed financial services group founded by former Barclays Plc chief executive Bob Diamond and Ugandan billionaire Ashish Thakkar, today announced it had sold its 10 percent stake in emerging Zimbabwean private equity firm Brainworks Capital for $8.72 million.
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Cement maker Lafarge says a capital injection of $7 million in quarry rehabilitation and maintenance last year is starting to bear fruit, reducing production costs by $7 per tonne and offsetting the failure of the company’s export endeavours.
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Seed maker SeedCo has recorded an 11 percent decline in revenue to $95 million for the full-year to March 31 due to maize seed product shortages.
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China has become the top importer of Zimbabwe’s flue cured tobacco this year, overtaking Belgium after the European country increased excise duty on tobacco in its 2015 budget.
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The government has injected $30 million into state-owned Agricultural Bank of Zimbabwe (Agribank) ahead of this month’s deadline for financial institutions to meet minimum capital requirements, the bank said today while reporting a flat performance for the full year to December last year.
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President Robert Mugabe yesterday said Zimbabwe was not a signatory to the Rome Statute, which ushered the International Criminal Court, because “we won’t subject ourselves to justice outside our country’s borders”.
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Zimpost’s agency services are now contributing more than 70 percent of monthly revenue and is seeking more companies locally and regionally to partner and grow the business, an official said yesterday.
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Zimbabwe’s road infrastructure authority sees licence fees collections doubling to $55 million this year from $27 million collected last year, but remains too low to fund the country’s aging road network, an official told a Parliamentary committee today.
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Chinese diamond miner Anjin Investments has filed a chamber application seeking a stay of execution against a judgment issued by the Labour Court to reinstate 1 100 employees it fired three years ago while it seeks to appeal the ruling.
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