Firm seeks to recover land from defunct AfrAsia Bank

A LOCAL firm, Drummond Zimbabwe Holdings (Pvt) Ltd, has petitioned the High Court seeking an order to be allowed to file litigation against AfrAsia Bank Limited, a subsidiary of Mauritius-based AfrAsi...

By Staff reporter | Published: 19 December 2018


Free range chicken breeder eyes Asian market

BULAWAYO-BASED women and girl child empowering non-governmental organisation, Upfumi Kumadzimai-Inotho Kubomama is working on embarking on an extensive free range chicken breeding project as it moves ...

By Staff reporter | Published: 22 July 2018


Defunct AfrAsia bank fails to pay creditors

AFRASIA Bank Zimbabwe says it will not be able to pay its creditors this year due to ongoing legal proceedings and an acute shortage of money on the market, which have delayed liquidation of the colla...

By Staff reporter | Published: 15 December 2017


Asian giants make advance bookings for ZITF 2018

INDIAN and Chinese businesses have made advance bookings for the 2018 edition of the Zimbabwe International Trade Fair (ZITF), with organisers saying they are targeting Asian representation for the fa...

By Staff reporter | Published: 21 September 2017


AfrAsia challenges court's decision on RioZim

AfrAsia Bank has filed an appeal at the Supreme Court challenging the High Court's decision to nullify the deed of settlement signed between the bank and mining company RioZim.This comes as the bank l...

By Staff reporter | Published: 19 July 2017


RioZim not paying $4.5m AfrAsia debt

RIOZIM Limited has decided not to honour an ostensible $4,5 million debt owed to AfrAsia Bank, which is presently in liquidation, after it emerged the financial institution could have unfairly bloated...

By Staff reporter | Published: 12 July 2017


Asian tourist arrivals decline 19%

Asian tourist arrivals to Zimbabwe has declined by 19 percent to 42 798 in 2014 from 52 959 recorded in 2013 despite the country's aggressive Look East policy, latest tourism statistics show.Figures r...

By Staff reporter | Published: 21 June 2015


UK's $800k trapped in collapsed AfrAsia unit

The United Kingdom (UK) Department for International Development (DFID)'s $800 000 has been trapped in AfrAsia Zimbabwe Holdings Limited (AZHL)'s lending unit, Microking, following collapse of the fin...

By Staff reporter | Published: 07 June 2015


Investor let us down, says AfrAsia

AfrAsia Bank Limited (ABL) says its Zimbabwean banking unit, AfrAsia Bank Zimbabwe Limited (ABZL), collapsed after negotiations with an international investor fell through at the last minute.The Mauri...

By Staff reporter | Published: 07 June 2015


AfrAsia Bank collapses

Troubled AfrAsia Bank Zimbabwe Limited (ABZL) has surrendered its banking licence after its Mauritian shareholder gave up on turning around the bank's fortunes.Apart from a Reserve Bank of Zimbabwe (R...

By Staff reporter | Published: 07 June 2015


AfrAsia battles $16m lawsuits

Troubled AfrAsia Zimbabwe Holdings Limited (AZHL)'s banking and microfinance subsidiaries are contesting $16,4 million lawsuits from various clients.Among the aggrieved is Alphavic Management Consulta...

By Staff reporter | Published: 07 June 2015


AfrAsia shuts Vic Falls branch

AfrAsia Bank has announced the closure of its Victoria Falls branch as part of the group's efforts to streamline operations.The branch will cease operations on July 31 and all accounts will be transfe...

By Leonard Ncube | Published: 24 July 2014


Zibawu demands probe into AfrAsia

AfrAsia Bank Limited is caught in the centre of stormy allegations by workers who claim that management wrote off thousands of dollars worth of their personal loans and presented them in the books as ...

By Staff reporter | Published: 29 April 2014


Zim tycoon sues AfrAsia for $79m

AFRASIA Bank, formerly Kingdom Bank, has been sued for about $79 million by local tycoon Zachary Wazara and his firm Spiritage Zimbabwe Limited for allegedly breaching its obligations in Valley Techno...

By Staff reporter | Published: 25 April 2014


AfrAsia deal signals major indigenisation climb down

This week's announcement Mauritius-based Afrasia Bank Ltd has increased shareholding in AfrAsia Zimbabwe Holdings Limited to 62,5% , following the injection of an additional $20 million into the enti...

By Staff reporter | Published: 25 April 2014


AfrAsia Bank Zimbabwe MD resigns

AfrAsia Bank Zimbabwe (AfrAsia)'s managing director Tineyi Mawocha has resigned.His resignation, under yet unclear circumstances, is barely three months after his appointment.Sekai Chitemerere, AfrAsi...

By Business Live | Published: 10 April 2014


AfriAsia Zimbabwe profits decline

AfriAsia Zimbabwe Holdings posted a profit of $174 862 for the half year ended 31 December 2013. This was a 91 percent decline from the prior comparable profit of $1,9 million.The figures in the stat...

By Staff reporter | Published: 03 March 2014


AfrAsia $5m rights issue fully subscribed

AfrAsia Zimbabwe Holdings says its $5 million rights issue was fully subscribed as the financial group continues with fundraising efforts to fund growth and meet regulatory requirements. This will hel...

By Staff reporter | Published: 21 February 2014


AfrAsia introduces innovative rewards programme

AfrAsia (Zimbabwe) Bank Limited is forging ahead with plans to claim a spot among the top five banks in the country.Late last year Mauritian banking group AfrAsia Bank Limited (ABL) CEO James Benoit s...

By Staff reporter | Published: 11 February 2014


Kingdom Bank change name to AfrAsia

The Reserve Bank of Zimbabwe published a notice on the change of name of Kingdom Bank Limited in terms of Section 22 (6) of the Banking Act to AfrAsia Bank Zimbabwe Limited and shall be known as such...

By Staff reporter | Published: 31 January 2014


Zim diamonds for Asian markets

Diamonds from Marange will soon be sold in China and the United Arab Emirates as Government seeks to maximise revenue from the precious stone, Finance Minister Patrick Chinamasa has said. Addressing t...

By Staff reporter | Published: 31 January 2014


Mawocha becomes AfrAsia Bank MD

Afrasia Bank Zimbabwe Limited has appointed former Tetrad Bank managing director Mr Tineyi Mawocha as the managing director for its rebranded flagship banking unit with effect from 6 January 2014.The...

By Herald | Published: 16 January 2014


Board shake-up looms at AfrAsia

A board shake-up - including the resignation of chairperson Sibusisiwe Bango - looms at AfrAsia Kingdom Zimbabwe Limited (AKZL) following Nigel Chanakira's exit and subsequent increase in shareholding...

By Staff reporter | Published: 06 December 2013


AfrAsia Holdings to rebrand

MAURITIUS-based AfrAsia Holdings Limited (AfrAsia) has injected liquidity support to the tune of $10 million to Kingdom Bank Limited as part of strengthening the institution's financial position. AfrA...

By Business Reporter | Published: 04 December 2013


Shareholders endorse Nigel Chanakira's exit

Shareholders in AfrAsia Kingdom Zimbabwe Limited (AKZL), the parent company of Kingdom Bank, on Friday voted for the repurchase of shares indirectly held by an investment vehicle linked to Nigel Chan...

By Staff reporter | Published: 01 December 2013

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