MUTAPA Investment Fund (MIF) is leveraging its strong asset base to negotiate funding with various foreign investors to partner in revamping some of its loss-making entities, according to chief executive John Mangudya.As at June 30, 2024, the sovereign wealth fund had a gross asset value of funds under its management amounting to US$16 billion.MIF has…
ZIMBABWE’s microfinance sector is providing more credit to small and medium enterprises (SMEs), pushing for greater financial inclusion despite concerns about high-risk lending.According to latest statistics from the Reserve Bank of Zimbabwe (RBZ), the industry’s total loan portfolio grew by 6,5 percent, increasing from ZiG5,98 billion in March 2025 to ZiG6,37 billion in June.The top…
FIRST Capital Bank (FCB) posted a 15 percent increase in net profit after tax to US$13,27 million during the half year to June 30 2025, driven by a 13 percent surge in total income to US$40,94 million.The financial institution’s balance sheet remained robust, with total assets increasing to US$306,9 million and customer deposits growing by…
ZB Financial Holdings (ZBFH) says the surge in electronic banking -thanks to investments in digital systems- propelled overall income during the six months to June 30, 2025.The group’s total income increased by 77 percent to ZiG1,908 billion during the period under review from ZiG1,075 billion in the first half of 2024 on significant improvement in…
OLD Mutual Zimbabwe (OM) says it is focusing on increasing investments in alternative markets as a hedge against inflationary risks in traditional money assets.Alternative investments are financial assets that do not fit into the conventional equity and cash classes, and they include venture capital, hedge funds, real property and commodities, among others.Speaking during an analyst…
ZIMBABWE’s leading independent national television station, 3Ktv, is continuing to cement its position as a trusted and reliable partner for many of the country’s top companies and organisations.This comes as…
ZIMBABWE’s annual inflation rate in local currency (ZiG) for August saw a minor deceleration, easing to 93,8 percent from 95,8 percent in July, latest data shows.According to Zimstat, on a monthly basis, ZiG inflation showed more significant progress, dropping to 0,4 percent in August from the 1,2 percent recorded in July.In contrast, prices in US…
AMALGAMATED Regional Trading Corporation (ART Corp) says discussions with potential investors to resuscitate its mothballed paper milling operations are expected to conclude by end of this year.The diversified industrial concern recently announced the decommissioning and optimisation of its tissue converting machinery in response to market overcapacity.This comes as cheaply produced imports have flooded the domestic…
ZIMBABWE’S Mutapa Investment Fund (MIF), the sovereign wealth vehicle that oversees some of the country’s most valuable state assets, has emerged as a key player in efforts to stabilise the…
RAINBOW Tourism Group (RTG) has entered the lucrative South African (SA) hospitality market following the acquisition of a US$5,6 million strategic property in Cape Town.The seven-storey commercial property is set for conversion into a hotel in the mother city, marking a major milestone for the group’s regional offensive strategy. This will ensure that the hotelier…
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