Masawara Plc to de-list from AIM
Insurance24 Reporter
HARARE, Masawara PLc is set to de-list from the AIM (London Stock Exchange) following a transaction in which principal shareholder Shingai Mutasa and others now control 90.4% of the Company’s issued share capital.
The transaction is that on 27 December 2017, Oxford Holdings Limited (“OHL“) acquired 50,760,456 ordinary
Zimbabwe’s insurance sector to grow on positive sentiment by new Government, Research.
Premiums projected a 4.8% year on year growth in next 5 years.
Insrance24 Reporter
HARARE, Zimbabwe’s insurance markets will depend heavily on the post-Mugabe regime making good on promises to open up the economy, re-engage meaningfully with creditors and crackdown on corruption but premium growth is expected
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Old Mutual offers Free Funeral Cover this Festive Season
Insurance24
HARARE, Old Mutual Zimbabwe is offering free Funeral cover this Festive Season in a promotion running until 31 January 2018 for which the Funeral Plan has immediate cover for accidental death and three month waiting period for natural deaths.
Terms of the plan are that individuals or Groups that take up the Old Mutual Funeral Plan
AfrAsia Bank Zimbabwe Limited in liquidation pays $2.95 mln to insured preferred creditors
Insurance24
HARARE, Defunct AfrAsia Bank Zimbabwe Limited has to date paid its preferred creditors $2.95 mln through two interim dividend payments and anticipate a third dividend payment during Q1 2018.
The Reserve Bank of Zimbabwe cancelled AfrAsia Bank Zimbabwe Limited (formerly Kingdom Bank)’s licence in
Sanlam posts solid performance in ten months to October 2017
The Sanlam Group announced a solid operational performance for the 10 months to 31 October2016, with total new business volumes of R195 billion, up 11 per cent on the first 10 months of the 2015 financial year.
Sanlam Personal Finance achieved 3 per cent growth in new business sales, with pressure on discretionary single premium savings
2018 Budget roundup: Chinamasa underscores political will for new economic order
Key highlights
HARARE- The 2018 national budget presented by Finance and Economic Planning Minister Patrick Chinamasa Thursday afternoon has underscored the importance of political will to ensure that the country’s economy moves
Old Mutual Zimbabwe invests in solar power projects
HARARE, Old Mutual intends to construct solar power projects with capacity to generate at least 50 megawatts. The projects will entail the construction of two solar power plants in Gwanda and Chipinge,
Old Mutual chief investment officer (Alternative investments) Benjamin Sithole said yesterday.
He said some solar panels will be laid on the rooftops
IPEC okays liquidation of Lancashire Steel Pension Fund
Insurance24
HARARE, Regulator, the Insurance and Pensions Commission (IPEC) has approved the liquidation of the Lancashire Steel Pension Fund. This is in terms of Section 10 (1) (a) of the Pension and Provident Fund Act (Chapter 24.09) and Section 10.2 of the Rules of the Lancashire Steel Pension Fund as at 31 August 2016.
The steel company folded
FMHL receives regulatory approval for NicozDiamond acquisition
Insurance24
HARARE, First Mutual Holdings (fmhl) says has received regulatory approval for the acquisition of the entire issued share capital of NicozDiamond Insurance, and subsequently the National Social Security Authority (NSSA) has transferred to FMHL 50.89% of the entire issued shares of NDIL.
In an update on transaction to acquire