TEXTILE company, Merlin, has roped in FBC Securities and CBZ Bank in a bid to secure a credible investor to pour in $1,2 million working capital, papers from the office of the judicial manager reveal.
Finance and Economic Development minister Patrick Chinamasa yesterday unveiled a $4bn national budget for 2016, with a financing gap of $150 million, which is expected to be met through domestic borrowings. At least $3,19bn was expected to go towards meeting employment costs.
In the past three or so years, an annual trend had developed that saw banking halls crowded with customers withdrawing their money to facilitate the annual festive shopping extravaganza.
FINANCE minister Patrick Chinamasa will today present his third budget, where he has little fiscal space due to the depressed economy.
YEAR-on-year inflation for December 2015 is projected to be -1,87%, deviating from its downward trend, with moderate increases expected, according to an economic barometer relaunched yesterday.
THE retail sector contribution to the fiscus remains minimal due to cash flow constraints, Confederation of Zimbabwe Retailers (CZR) president, Denford Mutashu, has said.
At a time when business in Zimbabwe is at its lowest, some institutions are carving a niche and actually growing in these adverse conditions. Financial services institution the MBCA Bank, will this month open two more branches as it continues to consolidate its position on the market
Rainbow Tourism Group (RTG) says its online channels will contribute 3% to total e-commerce revenue and the target is close to $1 million.
INNSCOR’S fast foods division, Simbisa Brands, will open four more shops before year-end, bringing the number of its outlets to 200, as it continues to expand throughout in the country.
THE government should put in place policies that improve the ease of doing business in the country, as well as restore confidence for both local and foreign investors, stakeholders said in their submissions to the 2016 National Budget.