International investor pours $210 mln into ABC Holdings

The banking sector yesterday witnessed the biggest equity transaction since dollarisation when a high-profile foreign investor, Atlas Mara Co-Nvest, moved to inject $210 mln into ABC Holdings to acquire a majority stake in the banking group. This is a strong sign of confidence in efforts by the Government to turnaround the economy.

Zimbabwe Economic News Roundup: Safari operators see $10 mln uplift in revenue, AFDB funds fish project & Firm to embark on $780 million gas project in Gwayi.

Zim to Benefit from $100 Mln Indian Facility

Zimbabwean companies will be able to purchase equipment from India through a $100 mln credit facility that the Asian country has availed. Industry and Commerce Minister Mike Bimha said the Zimbabwe government would be the guarantor to the local companies seeking to utilise the facility.

Mwana Ramps up Nickel Sales

Pan African miner Mwana Africa Plc (Mwana) says nickel in concentrate sales from its Zimbabwe-based Trojan miner went up 76% more to 2 651 tonnes in the quarter ended December 2013. During the period under review, Trojan owned by the group's subsidiary Bindura Nickel Corporation (BNC) - recorded a 74% growth in revenue to $24.5mln, driven by the enhanced sales volumes.