British microchip designing giant Arm has filed to sell its shares in the US, setting the stage for what could be the biggest stock market listing this year. The Cambridge-based firm is reportedly aiming to raise up to $10bn (£8bn). In a blow to the UK, the company said in March that it did not…
SABI Star Mine (Sabi), a lithium-producing entity wholly-owned by Chengxin Lithium, says it is finishing work on its processing plant in Buhera North, with production set to commence next month. Sabi has been mining and stockpiling raw lithium. The mine sits on 3 832 hectares and the resource is mined via an open pit and…
ZB FINANCIAL Holdings (ZB), says it is working fast to tie up the merger of its banking operations this year as part of its ongoing transformation. The integrated financial services group commenced a restructuring exercise in 2021 to “unlock value”. “As of December 31, 2022, all group companies, with the exception of ZB Building Society,…
IH SECURITIES says volumes sold in National Foods Holdings (NatFoods) maize and stock feeds divisions are likely to be weak in the last quarter of the fiscal year 2023, due to the projected over-supply of the harvest on the domestic market. This comes as Zimbabwe is expecting a bumper harvest for the 2022-23 crop, which…
NMB Bank (NMB) says it plans to establish a local remittance service to boost its non-funded income. In a recent interview with The Financial Gazette, the group’s chief finance officer, Margret Chipunza, said NMB hoped to attain a better mix of US dollars and local dollars in its non-funded income. “In terms of non-funded income,…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-290795.mp3?cb=1732289854.mp3The pangs of the post Covid-19 crisis coupled with the recent Russia-Ukraine war have put an unprecedented strain on food supply worldwide. Zimbabwe has not been spared the global economic woes, which are further exacerbated by the effects of hyperinflation and onerous taxes that have left most taxpayers struggling to survive. One sector that is…
POSB Bank says it will this year focus on digital transformation to grow non-funded income. The mass-market lender commenced a digital transformation project three years ago, which it says has seen the reconfiguration of its mobile banking processes. The bank has also incorporated new billers and widened its international money transfer services, increased US$ products…
BORDER Timbers (Border) says no finalisation has yet been reached in ongoing negotiations with the government on the settlement of the company’s award from a 2015 arbitration. In 2010, the company filed a request for arbitration with the International Center for the Settlement of Investment Disputes (ICSID) against the expropriation of its land by the…
ZIMBABWE’S tourism is gearing up for its peak season amid sentiments that the worst is now behind it after two years of Covid-19-induced interruptions. Tourism was severely affected by the pandemic outbreak as governments across the world imposed travel bans to try to contain the spread of the disease. Tourism Business Council of Zimbabwe president…
THE plan by authorities to introduce a gold-backed digital currency has received mixed responses from economic experts. With many of the experts still awaiting details of the move before taking a definitive position on it, some believe that this will mitigate the Zimbabwe dollar’s volatility, while others fear that it could create more economic instability…
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