NMBZ Holdings has acquired a controlling stake in the Zambian deposit-taking microfinance institution, Entrepreneurs Financial Centre (EFC), following regulatory approval from the Competition and Consumer Protection Commission. The strategic acquisition…
NEDBANK Zimbabwe has appointed Heresy Herry as acting managing director with effect from January 23, 2025, taking over from Sibongile Moyo, who resigned. Herry, currently head of origination and sales,…
TANGANDA Tea Company is seeking shareholder approval to raise US$8 million through a rights offer, with the fresh capital earmarked to support working capital needs and fund key capital projects. In an abridged circular to shareholders, the company said the funding would be mobilised via a renounceable rights offer, which allows existing shareholders to purchase…
INVICTUS Energy (Invictus) says it has terminated its agreement with Al Mansour Holdings (AMH) after failing to agree on revised terms. AMH is owned by Sheikh Mansour Bin Jabor Bin Jassim Al Thani, who toured Africa last year, meeting with heads of state and pledging billions in investments. Invictus is actively developing the Cabora Bassa…
WILLDALE’S plant utilisation was at 40 percent during the year ended September 30, 2025, due to working capital constraints that disrupted raw material supply and impacted maintenance work. The brick-making concern’s plant utilisation prior year stood at 62 percent reflecting the impact of limited cash flow into the business, which dragged throughput and overall operational…
INDEPENDENT accounting and business advisory firm Baker Tilly has welcomed the government’s decision to reduce the Intermediate Money Transfer Tax (IMTT) while increasing Value Added Tax (VAT), saying the measures will benefit ordinary citizens. Effective January 1, 2026, Zimbabwe’s IMTT on ZiG-denominated transactions was reduced to 1,5 percent, while the standard VAT rate increased from…
INNSCOR Africa (Innscor) consumed approximately 10 million litres of diesel during the year ended June 30, 2025 (FY2025), with generator use rising by 66 percent as power outages across the country intensified. Critically, the rise in generator diesel consumption suggests persistent or worsening dependence on backup power, resulting in additional cost buildup for the group.…
ZIMBABWE has every reason to pause and raise a glass to the return of single-digit inflation. After nearly three decades of price instability, currency collapse and the erosion of purchasing…
LOCAL alcoholic beverages manufacturer, African Distillers Limited (Afdis), on Saturday brought smiles and celebration to Wadzanai in Shamva thanks to its grand finale draw of Chateau Sow and Reap promotion.…
THE Zimbabwe U-19 men’s cricket team suffered a humbling defeat at the hands of India, slipping to a 204-run loss in their ICC U19 Men’s Cricket World Cup Super-Six match…
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