Malawi’s First Merchant Bank ( FMB) intends to invest at least $15 million in Barclays Bank Zimbabwe, with $6 million of that earmarked to upgrade the bank’s information technology (IT) systems, chairman Hitesh Anadkat said today.
The value of transactions processed through the National Payment System (NPS) in the first week of October declined by 14 percent from $2.3 billion in the previous week to $1.9 billion due to a decline in Real Time Gross Settlement (RTGS) transactions.
Zimbabwe is targeting to halve its budget deficit to four percent of the country’s Gross Domestic Product (GDP) next year, with growth expected to slow to 3 percent, according to a treasury strategy.
Zimbabwean media, especially the online media, has been awash with headlines like: “Grace Mugabe in Zimbabwe leadership race”, “Moves to make Grace Mugabe Zimbabwe VP”, “Grace Mugabe takes over from Bob”, “Grace Mugabe takes charges of ZANU-PF congress” “ Plans to make Grace Mugabe Zimbabwe President”, “Grace Mugabe for President”, “Mugabe succession: Grace Mugabe starts Mnangagwa elimination process”.
South African retailer Pick n Pay says its Zimbabwe associate TM Supermarkets performance boosted the group’s half year revenue for its Rest of Africa division which increased by 12.6 percent to R2.3 billion ($1,7 million).
Movement for Democratic Change leader Morgan Tsvangirai has lifted the suspension of two top party officials Abednico Bhebhe and Chartlon Hwende who were suspended in August following party disturbances in Bulawayo.