FMHL on solid footing despite covid 19
Staff Reporter
HARARE, First Mutual Holding Limited (FMHL) says it will continue as a going concern despite the ugly face of the covid 19 pandemic which has diminished the short term growth prospects of the economy and the Group.
The group however says the evolving nature of the pandemic will require continuous monitoring and assessment to establish the impact
ZSE resumes trading but trades in negative territory
Staff Writer
HARARE, Zimbabwe Stock Exchange resumed trading on Monday after a month long suspension and as was expected, the main indices closed in the red as the market opened sellers only.
Turnover was also quite subdued although this is only temporary as the majority of fund managers are liquid following the release of almost $300 million of
ZHL’s acquisition of ZPI still work in progress, as the group postpones AGM
Staff Writer
ZIMRE Holdings has advised that the pending 100% acquisition of Zimre Property Investments transaction is still work in progress, and the full impact on shares is still to be determined.
“While the full impact of these negotiations, if successful, is still being determined, the Transaction may have a material
Old Mutual remain suspended as ZSE resumes 03 August
Staff writer
HARARE, The Zimbabwe stock exchange saga has now sucked in brokers, asset managers and share market investors as the Financial Intelligence Unit concludes investigations on the alleged malpractice on the bourse.
Finance minister Mthuli Ncube said the ZSE will resume trading on the 3rd of August
Mthuli extends 2% tax to foreign currency transactions
Staff Writer
HARARE, Finance Minister Mthuli Ncube has proposed to extend Intermediated Money Transfer Tax to cover foreign currency transactions starting from August arguing that the current exemption has created an unfair advantage for taxpayers’ transaction in foreign currency.
The current legislation exempts the transfer of money into and
Ruling party recommends USD only trading platform for Old Mutual
Staff Reporter
HARARE, The ruling party, Zanu Pf has reaffirmed its position of having Old Mutual delisted from the Zimbabwe Stock Exchange (ZSE), saying the bourse should create a USD only trading platform for the diversified insurer and financial services giant.
Under this arrangement, Old Mutual Limited can then be allowed
The need to modernise insurance systems
HARARE, Shifting customer expectations and the need to replace aging systems are contributing to insurers’ decision to modernise their environments and become more adaptable to the digital needs of the market today. Lee Kuyper, COO at SilverBridge, examines the process this will likely entail.
“Insurance is not a modern industry, with many companies having
Sanctuary Insurance to activate “Average Condition” clause
Staff Writer
HARARE, Sanctuary Insurance Company says in an event of loss, in light of market changes, the company will activate the Average Condition” clause, where the sum insured does not match prevailing market value.
In this regard, the company is urging clients to consider constantly reviewing insured values to ensure one is
Innovation, strategic partnerships strengthens FMHL resilience
Staff Writer
HARARE, DOUG Hoto, the First Mutual Holdings Limited, chief executive, says despite the turbulent economic environment, the Group remained solid on its key competences to mitigate against loss of value in 2019.
“Despite the turbulent economic environment, the Group remained focused on delivering its promise on the core
GeneInsure/Zinara partners for self-service vehicle licensing service
Staff Writer
HARARE, Genetic Financial Services, trading as Gene-Insure, in partnership with ZINARA have introduced a self-service vehicle licensing machine as part of continuous product innovation for convenience.
GeneInsure operates as an insurance Underwriting Management Company to Zimnat General Insurance, specializing in tailor-made