Zimre Holdings Limited (ZHL) says it has been granted permission by the central bank to open a $2 million offshore account for its reinsurance company, Baobab, to allow the company to underwrite foreign insurance business. Baobab is the largest reinsurer in Zimbabwe, with a regional reach.
Starafrica Corporation posted a 75 growth in revenue to $32.6 million for the year ended March 31, driven by improved production at its Goldstar Sugars Harare (GSSH) and profitability at Country Choice Foods (CFC).
Facebook announced this week that 2 billion people — more than one quarter of the world's population — are now active users of the social network Mark Zuckerberg started in his dorm room 13 years ago.
A number of Insider readers have described former Industry Minister Nkosana Moyo, who announced that he would be running for president next year, as a spoiler with one saying he would not stand a chance even against Buhera South Member of Parliament Joseph Chinotimba.
Mabvuku-Tafara legislator James Maridadi last week asked Vice-President Phelekezela Mphoko what goes on in his head when he hears about rampant corruption in the government as reflected in the Public Accounts Committee report on the Ministry of Transport which revealed that funds were being splashed all over with the permanent secretary Munesu Munodawafa acting with impunity.