FINANCIAL SERVICES

Nedbank offers $75m offshore finance facility

NEDBANK Zimbabwe has availed a $75 million line of credit facility through its mother company, Nedbank South Africa under which pre-and post-shipment offshore finance will be offered to exporters.Spea...

By Staff reporter | Published: 12 July 2018

BUSINESS NEWS

RBZ secures $1,3bn offshore loans for industry

THE Reserve Bank of Zimbabwe (RBZ) has managed to secure $1,3 billion offshore loans through the African Export-Import Bank (Afreximbank) and Trafigura to support production and promote exports, an of...

By Staff reporter | Published: 05 July 2018

FINANCIAL SERVICES

Zimbabwe banks to source offshore credit lines

Financial institutions have renewed plans to source offshore credit lines to sustain requirements by productive sectors of the economy.Productive sectors are failing to increase capacity due to lack o...

By Staff reporter | Published: 12 March 2018

INDUSTRIALS & ENERGY

BAT fails to remit $15m to its offshore shareholder

ZIMBABWE’S largest cigarette manufacturer, British American Tobacco (BAT), is failing to remit over $15 million in dividends to its offshore shareholder and for payment of raw materials due to forei...

By Staff reporter | Published: 01 March 2018

ZIMBABWE

Zimbabweans stash $1 billion offshore

FUNDS held by Zimbabweans in offshore banks rose to US$1 billion last year, having declined to US$300 million four years ago, following escalating political risk and uncertainty at home, Reserve Bank ...

By Staff reporter | Published: 14 December 2017

BUSINESS NEWS

Zimbabweans stash cash offshore

THE huge amounts of money held by Zimbabweans in foreign banks are a sign of the low confidence people have in the banking system, the Bankers Association of Zimbabwe president, Charity Jinya, has sai...

By Staff reporter | Published: 23 November 2017

FINANCIAL SERVICES

CBZ seeks offshore loans

ZIMBABWE'S largest financial services group by assets, CBZ Holdings (CBZ), has said it is negotiating with regional lenders for external loans at concessionary rates.The group's chief executive office...

By Staff reporter | Published: 10 August 2017

FINANCIAL SERVICES

NMBZ secures $37m offshore credits

Dual-listed financial services group NMB Zimbabwe Holdings (NMBZ) is set to secure $37 million in offshore credits earmarked for on-lending to industry and various sectors of the economy, a top compan...

By Staff reporter | Published: 21 June 2015

BUSINESS NEWS

Mushayavahu opens up on $29m offshore loan

FBC Holdings Ltd boss John Mushayavanhu says he bought a 51% equity stake in Zuva Petroleum through a 15-year $29,325 million off-shore loan from Glencore, businessdigest can reveal.In an interview th...

By Staff reporter | Published: 03 March 2014

FINANCIAL SERVICES

Offshore facilities drive CBZ loans up 20%

CBZ Holdings recorded write off totalling $32 million for the year ended 31 December 2013 as the firm continues to mobilise long term funding, CEO John Mangudya told an analyst briefing yesterday.The...

By Staff reporter | Published: 03 March 2014

FINANCIAL SERVICES

NMBZ shareholders approve placement of shares to offshore investors

NMBZ shareholders, unanimously voted for all the seven resolutions at an EGM held early this morning paving way for injection of new capital by offshore strategic institutional investors.Chairman Te...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

NMBZ secures $16 million from offshore, to raise $50 million

NMB has secured $16 million new capital from foreign investors which will help the bank raise more lines of credit for deploying in areas such as mining and agriculture, group CEO James Mushore told...

By Business reporter | Published: 10 June 2013
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