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Standard Bank extends $120mln for ZPC power stations

00Standard Bank extends $120mln for ZPC power stations HARARE – Regional finance institution, the Standard Bank in partnership with the Eastern and Southern African Trade and Development Bank (PTA Bank) has availed a $120 million debt package to the Zimbabwe Power Company (ZPC) for the rehabilitation of existing power infrastructure at Kariba South Hydro Power Station…

ZB shareholders vote against Vingirai in heated AGM

00ZB shareholders vote against Vingirai in heated AGM HARARE –In a drama packed annual general meeting, ZB  Financial Holdings shareholders voted against the claim by Transnational Holdings Limited of 6.21% shares of the company as well as a dividend claim of $658 699. Shareholders also voted against the appointment of THL representatives as directors. Both…

No more NPL acquisitions says Zamco after closing the window on submissions in Q1

00No more NPL acquisitions says Zamco after closing the window on submissions in Q1 HARARE – The Zimbabwe Asset Management Company (Zamco) has no appetite to acquire more non-performing loans, as continued acquisitions might erode the incentive to guard against risk in the financial sector. Zamco chief executive Cosmas Kanhai said that continuous acquisitions by…

ZPI to focus on demand driven business

00ZPI to focus on demand driven business HARARE, Zimre Property Investments (ZPI) has secured land in Victoria Falls and already paid $1.8 mln as part of the company’s new thrust to build residential properties on demand. When Zimbabwe switched to the multi currency system, there was a boom in the property sector which resulted in…

Vulnerabilities to increase in Zimbabwe – IMF report

00Vulnerabilities to increase in Zimbabwe – IMF report HARARE – The International Monetary Fund, in its April Regional Economic Outlook released this morning,said economic vulnerabilities will increase further in Zimbabwe, despite improvement in the country’s key sectors such as mining and agriculture and a positive outlook for regional growth. The report, titled Sub-Saharan Africa: Restarting…

Zimre trims regional investments

00Zimre trims regional investments HARARE- Zimre Holdings told analysts yesterday that it is has come up with a clear corporate parent strategy, as it moves to position itself as a turnaround case with a very strong portfolio of assets. Zimre said it is targeting to create an offshore investment company, which will be based in…

Zim’s fiscal position to recover in 2017 – BMI

00Zim’s fiscal position to recover in 2017 – BMI HARARE  – According to research firm BMI , Zimbabwe’s  real  GDP  growth   is set to  remain  relatively   weak  by  regional   standards  over  the coming decade. The firm however indicated that an improvement in Zimbabwe’s external position will remove one of the key constraints to GDP growth…

RTG on expansion drive

00RTG on expansion drive HARARE, Rainbow Tourism Group (RTG) says will invest in excess of $18 mln towards the expansion of its Victoria Falls properties. The group highlighted that they are already fully booked for the year mainly due to increased demand spurred by the expansion of the Victoria Falls airport. The group plans on…

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