The Supreme Court has ordered former Zimbabwe Allied Banking Group (ZABG) now trading as Allied Bank Zimbabwe to reinstate its head of compliance section Stella Nhari after setting aside the bank's decision to terminate her contract.
POSTAL services provider Zimpost has launched a new money transfer service called Zipcash which allows Zimbabweans to send and receive money locally and internationally through the postal network worldwide. Speaking at the launch of the second Zimpost "Unpack a Box" promotion in Harare on Monday, Information Communication Technology, Postal and Courier Services Minister Webster Shamu praised the company's innovation.
THE National Social Security Authority has given Capital Bank the nod to wind up operations and is now focusing on setting up a micro-finance institution. Sources familiar with the developments said yesterday the Reserve Bank of Zimbabwe and the Ministry of Finance had approved the plan, which involves paying off depositors and creditors. The "bulk" of the employees would be absorbed in the new company.
PROMINENT lawyer and businessman Mr Sternford Moyo says there is need to remove immunity of the Reserve Bank of Zimbabwe to inspire confidence in the central bank. Mr Moyo made the remarks in his presentation at the four-day Institute of Bankers of Zimbabwe Summer Banking School that ended in Nyanga last Friday.
South Africa and Zimbabwe are to increase cooperation in the development of small businesses in both countries through skills transfer, knowledge sharing and increased trade and investment missions, the Department of Trade and Industry (DTI) said on Wednesday.
FARMERS have urged banks to relax their lending conditions so that they can access the US$720 million agriculture support facility availed for the 2013/14 summer cropping season. Banks are insisting on collateral and are not accepting 99-year leases and offer letters as security, prompting farmers to negotiate a relaxation of stringent collateral requirements.
The U.N. Food and Agriculture Organization (FAO) has declared that Zimbabwe's perennial food shortages must not be allowed to continue. According to the FAO, there are signs that President Robert Mugabe's government now wants to address the problem, which has grown worse this year.
NMBZ Holdings Limited advises its shareholders that the Company is engaged in negotiations which, if concluded successfully ,will have an impact on its share price. Shareholders are accordingly advised to exercise caution when dealing with the Company's securities until a further announcement is made.
FBC Holdings Limited has been duly listed on the Zimbabwe Stock Exchange. Speaking at the occasion, Group Chairman, Mr Herbert Nkala said that he was excited at the mutually beneficial business opportunities created by the new group.
Two of Zimbabwe’s tea producing giants Tanganda Tea Company and Southdown Holdings have embarked on a six year outgrower development programme to develop up to three thousand hectares of smallholder farm land into tea.
ZIMBABWE will need to invest about $3 billion annually if it is to reduce poverty by 50 percent by the end of the year 2015 under the Millennium Development Goals, a United Nations Development Programme (UNDP) official has said.
Senior MDC-T official Obert Gutu on Thursday described Zanu (PF)'s election manifesto as a ‘bundle of lies used crudely to cheat the people of Zimbabwe.' Obert Gutu The ruling party's election manifesto promised to create over 2 million jobs in the next five years, allegedly as part of an economic growth initiative based on the economic empowerment and indigenization drive. But the party's secretary for Youth Affairs, Absolom Sikhosana, disclosed Tuesday that government will not be able to create the jobs promised in its manifesto, once again using the targeted sanctions as the excuse.
The International Monetary Fund (IMF), which threatened with the "compulsory withdrawal of Zimbabwe" one year ago, yesterday decided to give Harare authorities one last chance to avoid expulsion. The reconciling move by the IMF had come after Zimbabwe had made larger efforts to comply with the Fund's demand during the last year, including down-payments of US$ 16.5 million.