Old Mutual Zimbabwe’s mortgage lender Central African Building Society (CABS) reported a 20 percent drop in profit in the six months to June from $20.7 million last year to $16.5 million, weighed down by a surge in operating costs.
The funeral assurance industry’s after tax profit for the first quarter to March increased 56 percent to $2.5 million compared to $1.63 million in the same quarter last year, largely on the back of a drop in claims and an increase in premiums written.
Stalap Investment’s offer to CFI minority shareholders flopped with no takers as minorities wait for a higher offering on the local bourse.
Singer and businessman Energy Mutodi was arrested this morning for an article he wrote on Facebook about why it is a difficult job for President Robert Mugabe to choose a successor, The Herald reported this evening.
A senior member of the Movement for Democratic Change Trudy Stevenson said 16 years ago that she did not trust the young members of the party such as Nelson Chamisa, Job Sikhala, Learnmore Jongwe and Tafadzwa Musekiwa saying she suspected that they were Zimbabwe African National Union-Patriotic Front plants.
Principals of the parties that formed the Movement for Democracy Change Alliance on Saturday today met to “plot the signposts” to next year’s elections, Morgan Tsvangirai’s spokesman Luke Tamborinyoka said in a statement.