Home / Business (page 3)

Business

50 international banks blacklist Zimbabwe

Zimbabwe has lost the support of 50 international banks in the past decade due to Western sanctions, central bank governor John Mangudya has said. With now only three international banks availing credit to it, Zimbabwe is starved of foreign finance to develop its stuttering economy, Mangudya said. The international financial …

Read More »

Air Zimbabwe Cuts 70% of its workforce to prevent bankruptcy

By Godfrey Marawanyika and Desmond Kumbuka Dismissals needed to prevent bankruptcy, airline says State airline used to operate flights to Europe and China Air Zimbabwe is firing more than a third of its workforce to prevent the state-owned airline from going bankrupt. The airline has debts of about $330 million, …

Read More »

#Zimbabwe runs out of bond notes, to issue new bond notes

Zimbabwe Seeks Bond-Note Funds as Afreximbank Facility Runs Out By Brian Latham (Bloomberg) — Zimbabwe is in talks about second loan facility to fund the issuance of further bond notes, Central Bank Governor John Mangudya told reporters on Wednesday in the capital, Harare. * A loan facility with Afreximbank, which backed …

Read More »