ZIMBABWE’S broad money increased by 9,12 percent to $3,19 trillion in March 2023, compared to $2,92 trillion recorded in February 2023, the Reserve Bank of Zimbabwe (RBZ) has said. According to the RBZ’s monthly economic review for March, the increase reflects an expansion of $114,56 billion and $152,19 billion in foreign currency deposits and local…
UK-based mining company, Contango, has commenced production of washed coking coal at its flagship Lubu project in Hwange. The London-listed natural resource company said this follows recent dry and wet runs of the wash plant, as well as integration of the screen with broader processing facilities. Chief executive Carl Esprey said the production is a…
INNSCOR Africa (Innscor) says its volume growth on a cumulative nine-month basis remained ahead of the comparative period despite the challenging operating environment. In a trading update for the third quarter that ended March 31, 2023, the diversified group said it operated under turbulent economic conditions as the market experienced significant inflationary pressure, currency instability…
ZB Financial Holdings (ZB) has unveiled the Belmont Plus Platinum service centre in Bulawayo to cater for elite clients in the city and surrounding towns. Earlier this year, ZB launched the Premium Service Centre concept targeting high-value customers as the group moves to conclude its transformation journey. The transformation, which commenced last year, seeks to…
NMB Bank says it is holding talks with five lenders for potential lines of credit amounting to US$53 million. Last year, the bank accessed EUR12,5 million and US$10 million in lines of credit from the European Investment Bank and the Eastern and Southern Trade and Development Bank, respectively. “We have been quite aggressive in mobilising…
ZIMPLOW says the acquisition of a 49 percent stake in Barzem is close to conclusion as the new entity emerging from that transaction, Tractive Power Solutions (TPS), is already positioning itself on the market. Zimplow is acquiring a 49 percent shareholding in Barzem, held by its partner Barloworld, at a discount in line with the…
RAINBOW Tourism Group (RTG) says hotel occupancies in tourist resort areas are closing in on pre-Covid-19 levels. This comes as the group’s average hotel occupancies closed the quarter ended March 31, at 43 percent, which was on par with the same period in 2022. “City hotels continue to drive activities for the group mainly through…
NEWLY established hotel chain Sterling Group of Hotels is bullish about both its future and the prospects of the tourism sector after the reception it has received on the market. Sterling operates three hotels in Harare, Mvurwi, and in Bulawayo. “We are very optimistic of lots of potential business because of the traffic we have…
NATIONAL Building Society (NBS) has launched ‘Platinum Pavilion Club’, a private banking unit to offer lifestyle banking and beyond to facilitate for bespoke financial solutions to high and ultra-high-value clients. The private banking initiative marks another key milestone in its growth following the recent launch of Corporate and Institutional Banking. As the bank continues on…
OLD Mutual Zimbabwe this week launched its newly established fintech business, Old Mutual Digital Services, which will be operating as O’mari. O’mari will provide mobile money services, insurtech, investech, digital lending, e-commerce, payments, and digital products and services for the retail mass market. “We are pleased to launch O’mari into the market, a business that…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More