AdvertisementsBARCLAYS Bank Zimbabwe (Barclays) has missed out on low hanging fruits after it registered a decline in non-interest income in the first half of this year. Non-interest income, which is revenue that a bank gets from activities other than lending, has emerged as a major source of income for local banks after takings from electronic…
AdvertisementsDELTA Corporation (Delta), Zimbabwe’s largest beverages manufacture, yesterday said it had invested $260 000 towards the upgrade of a road junction near its Fairbridge Chibuku Super plant. This comes as an upgrade of the plant at Fairbridge in 2016 gave rise to an increase of traffic, particularly the heavy motor vehicles that ferry raw materials…
AdvertisementsECOBANK Zimbabwe recorded a $18,4 million profit after tax in the six months to June 30, 2018, a 64 percent increase from the $11,4 million realised during the same period last year. The increase was mainly attributed to a year-on-year rise of 46 percent in net interest income added to a 75 percent year-on-year increase…
AdvertisementsFOREIGN investors were net sellers of $4,4 million shares on the Zimbabwe Stock Exchange (ZSE) in August, according to figures released by the local bourse this week. Foreign purchases accounted for $12,5 million shares during the month under review while sales amounted to $16,9 million. Regional seed producer Seed Co dominated the net sellers, with…
Advertisements THE Zimbabwe Stock Exchange (ZSE) says it is weighing the local market’s readiness for the listing of trade derivatives. A derivative is a financial security with a value that is reliant upon or derived from an underlying asset or group of assets. The derivative itself is a contract between two or more parties based…
AdvertisementsNETONE says digital payments play a critical role in creating opportunities for people to improve their lives and participate in their economies. As such, the government-owned mobile telecommunications company said it will continue to roll out products ― through its OneMoney platform ― that will benefit the majority of Zimbabweans. OneMoney was launched last year…
AdvertisementsZIMBABWE has set up 13 Special Economic Zones (SEZs) across the country in a move aimed at stimulating production and create jobs. SEZs are areas in which business and trade laws are different from the rest of the country. They are normally located within a country’s national borders, and their aims include increased trade, higher…
AdvertisementsZIMBABWEAN banks are slowly increasing capital allocation towards investment securities after controlled lending rates put pressure on the sector’s profits in the half year to June 2018, The Financial Gazette can reveal. Lending rates are pegged between six percent and 12 percent, depending on the lender’s risk profile. However, interest rates on deposits that were…
AdvertisementsCBZ Holdings (CBZ) says it is targeting to grow its asset base to $3 billion this year as the financial institution seeks to maintain its dominance on the local market. The diversified group, which has been among the pace setters in the local financial services space for more than a decade, grew its asset base…
AdvertisementsTHE Infrastructural Development Bank of Zimbabwe (IDBZ) expects to return back to profitability by year end after its half year performance surpassed expectations. The government-owned financial institution incurred a loss of $1,2 million for the half year, coming off a profit of $196 572 recorded in the comparable period last year. Thomas Sakala, IDBZ’s chief…
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