ZIMBABWE and Rwanda say they are working on a single visa for tourists visiting both countries through a joint tourism package deal. The two countries are currently on an aggressive drive to strengthen economic ties after recently exchanging huge business delegation visits in a space of six months. “We are committed … and … excited…
THE People’s Own Savings Bank (POSB) says the search for an ideal investor for the completion of its partial privatisation is set to continue into the second half of the year. The bank is one of the state entities that have been earmarked by the government for partial privatisation. In a statement accompanying the bank’s…
FINANCIAL services group FBC Holdings Limited (FBC) says it is weighing up investment opportunities on the foreign currency-denominated Victoria Falls Stock Exchange after reporting what it termed a solid performance for the year ended December 31, 2021. FBC reported that its total capital increased to $14,3 billion from $8,2 billion recorded in the comparative period,…
THE tobacco selling season is set to offer foreign currency relief to the government, amid record production by small-scale farmers, who contributed 63 percent of the total produce last year. Despite facing challenges with sustainable financing models and energy provision, the small-scale farmers have helped tobacco farming to return to pre-land reform production levels, making…
NEDBANK Zimbabwe (Nedbank) recorded significant growth in 2021, achieving a profit after tax of $904 million, a 342 percent increase from $204 million in the prior year. The increase was buoyed by a 99 percent growth in funded income on the back of increased lending to the private sector and investments in government securities. Nedbank…
AIRPORTS Company of Zimbabwe says the project implementers of RG Mugabe International Airport – Jiangsu International – is working flat out to complete the expansion civil works ahead of schedule…
THE Airports Company of Zimbabwe (ACZ) was created after the unbundling of the Civil Aviation of Zimbabwe (CAAZ) in 2019. ACZ currently manages and operates a network of eight strategically-located…
ARDEN Capital (Arden) has re-proposed winding up operations after a lapse of its previous proposal due to delayed approval from the Reserve Bank of Zimbabwe. Directors of the Zimbabwe-focused investment firm came up with the proposal after resolving that the business case for continued operations was “no longer sensible”. The board proposed a pro-rata unbundling…
BRITISH American Tobacco Zimbabwe (BAT) says it is planning to increase renewable energy use across its operations this year in a bid to reduce carbon emissions. This comes as the listed tobacco processing firm strives to operate its business in a socially and environmentally responsible manner in line with the government’s tobacco value chain transformation…
THE Insurance and Pensions Commission (IPEC) says it is still waiting for prescribed asset submissions from institutions in the sector so as to come up with suitable projects. The sector has persistently failed to comply with prescribed asset thresholds, citing a lack of confidence in the sector. In the latest quarterly report for the short-term…
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