News Zimbabwe Markets: Union fears ‘bloodbath’ as FBC snaps Stanchart
Both Stanchart and the Zimbabwe Stock Exchange listed FBC did not disclose the value of the transaction. A TRADE union representing 3 500 banking sector workers said yesterday it would have preferred a global bank to take over Standard Chartered Bank (Stanchart)’s Zimbabwean assets, after FBC Holdings (FBC) disclosed it had snapped 100% shareholding in the business. The Zimbabwe Independent reported in January that FBC was among five suitors who...
News Zimbabwe Markets: FBC Holdings acquires Standard Chartered business in Zimbabwe
HARARE - FBC Holdings Limited (FBCH) and Standard Chartered Bank have entered into an agreement for the acquisition of Standard Chartered’s business in Zimbabwe, subject to the approval of the regulatory authorities including the Reserve Bank of Zimbabwe. The announcement was made today at Standard Chartered’s Headquarters in Harare, Zimbabwe by Sunil Kaushal from Standard…
News Zimbabwe Markets: FBC Holdings acquires Standard Chartered’s business in Zimbabwe
FBC Holdings (FBCH) has acquired London-headquartered bank Standard Chartered's business in Zimbabwe following approval by the Reserve Bank of Zimbabwe (RBZ).
News Zimbabwe Markets: Standard Chartered to sell Zimbabwe unit to local group
Standard Chartered Plc has agreed to sell its Zimbabwe unit to local financial services group FBC Holdings Limited (FBCH), the London-based group announced on Thursday. Standard Chartered chief execut ...
News Zimbabwe Markets: Zimbabwe stock market halts trade after rally on back of weak currency
Zimbabwe's main stock market on Wednesday temporarily halted trading for the second time in two days after shares rallied on the back of a weakening Zimdollar.
News Zimbabwe Markets: FBC to acquire Standard Chartered’s business in Zimbabwe
We saw it coming years before it was announced. Standard Chartered lost interest in the Zimbabwean market a long time ago and were, to be frank, just ...
News Zimbabwe Markets: In Zimbabwe, digital gold beats bitcoin
No wonder the country’s central bank, the Reserve Bank of Zimbabwe, is trying something new. Or rather, something very old. It is launching a new “digital currency.” But don’t think bitcoin, ethereum, ...
News Zimbabwe Markets: Zimbabwe is launching gold-backed digital tokens: What you need to know
Zimbabwe has looked to gold to “expand value-preserving instruments,” launching a gold-backed digital currency this week as the nation suffers from hyperinflation and its currency continues to diminish in value.
News Zimbabwe Markets: Zimbabwe: Former Mozambique Leader Says Zimbabwe 'Bad History' Must Not Stifle Debt Resolution Engagements
Former Mozambique president, Joaquim Chissano reiterated the need to avoid bad history between Zimbabwe and its lenders stifle the spirit of debt resolution engagement.
News Zimbabwe Markets: Zimbabwe: Cables Firm Cafca Explores Lucrative Export Market
LISTED cables manufacturer, CAFCA Limited is exporting its products to African countries in a development set to spur its foreign currency earnings.Presenting a trading update for the first quarter of 2023,CAFCA company secretary Caroline Karanga revealed that despite exports going down, the company is pursuing a vigorous export strategy."Export volumes were 34 tonnes down in the current quarter versus the same quarter last year. Our customers...
News Zimbabwe Markets: Zimbabwe ramps up Hass avocado production
Zimbabwe’s ramps up Hass avocado production in the southeastern district of Chipinque which has an ideal climate for the fruit.
News Zimbabwe Markets: Investors shun long-dated financial instruments
THE Infrastructure Development Bank of Zimbabwe (IDBZ) has noted that the fragile macroeconomic environment has [...] ...
News Zimbabwe Markets: World Bank commends Zimbabwe’s human capital, digital strides
Prosper Ndlovu recently in Victoria Falls THE World Bank Group has applauded Zimbabwe’s human capital development strides and adoption of digital strategies to transform the economy. In line with the ...
News Zimbabwe Markets: Zim a key market, says Nedbank Group
Dr Terence Sibiya, the managing executive of Nedbank Africa Regions, during an online media briefing, said the short to medium and long-term outlook for Zimbabwe remained robust.
News Zimbabwe Markets: Zimbabwe gold coins mop out $3.7 billion in two weeks
The Reserve Bank of Zimbabwe says it had sold 4 475 gold coins by 10 August realising $3.7 billion, 90% of which was paid in local currency. It is now planning to introduce smaller coins by November ...
News Zimbabwe Markets: Economics, equity note: The Zimbabwe syndrome
A key concern has to do with emerging inflationary pressures in the domestic economy and a deteriorating Zimbabwean dollar (Zimdollar).
News Zimbabwe Markets: Zimbabwe’s Urban Poor Turn to “Car Supermarkets” To Survive Inflation
Facing the world’s highest inflation, an informal economy of vendors selling groceries and food staples has sprung up in the trunks of Zimbabwe’s cars.
News Zimbabwe Markets: Fashion designer eyes international markets
ZIMBABWEAN fashion designer and founder of Ganu Designs, Nkanyezi Malunga says she is looking at exploring international markets inspired by the success of her recent hybrid fashion exhibition themed ...
