Arise, an investment company formed by the Norwegian Investment Fund (Norfund), Netherlands Development Fund (FMO) and Dutch commercial bank Rabobank has taken a nearly 18 percent stake in Zimbabwean bank NMBZ Holdings.
Zimbabwe’s largest financial group, CBZ Holdings has reported an after tax profit of $12 million in the six months to June which is largely flat when compared to $11.9 million achieved in the same period last year.
The cost of poultry products is seen rising following the outbreak of avian influenza in Zimbabwe that has led to a drop in the availability of broiler chicks by nearly 500 000 per week, according to an industry report.
Movement f for Democratic Change leader Morgan Tsvangirai wrote off Emmerson Mnangagwa as a spent force ahead of the 2005 elections.
The central bank’s latest bid to deal with foreign currency shortages will hit hard Zimbabwe’s verdant mining sector, and has been described as ‘catastrophic’ by some industry players.
The Zimbabwe Stock Exchange (ZSE) market capitalisation hit its highest point since dollarisation in 2009 of $6.05 billion as local investors continue to seek refuge in equities to escape currency woes.