Breaking News

Government cedes 49% in Agribank

by Business reporter
26 February 2013 | 2189 Views
The government has approved the disposal of a 49% stake in Agribank, paving the way for private investors to inject fresh capital.

In a move expected to result in Agribank increasing its capital levels to meet the needs of the agricultural industry, the government has finalised the sale of minority shares to investors.

Agribank Chief Executive Sam Malaba confirmed that in terms of the plan, local and external investors have submitted their bids for shares to government which is the main shareholder.

"There are some investors who are interested and we are waiting for their response," said Mr Malaba.

While government is expected to retain a 51% shareholding in the bank, an investment analyst Mr Nicky Moyo says fresh capital injection is important in ensuring that Agribank performs its main role of providing long term loans for farmers.

"It is long overdue and we anticipate that something tangible will come out," Mr Moyo said.




Agribank has in the past four years experienced challenges in sustaining the requirements of farmers due to lack of funds.

Market observers are therefore waiting to see whether the anticipated investors will put fresh funds into the financial institution.

Agribank

Source: zbc

Will Grace succeed Robert Mugabe?

Yes
16.67%
No
80.95%
Not sure
2.38%
42

Comments

News Updates

Email:

Latest News

BAT Zimbabwe unit declares 100% dividend - BAT Zimbabwe, the Zimbabwe ...

by Staff reporter | 28 July 2014 | 230 Views

Police roadblocks driven by Cash than Purpose - Police roadblocks whic...

by Suitable Kajau | 28 July 2014 | 460 Views

Mbeki roped into Mugabe succession?

by Nancy Mabaya | 28 July 2014 | 1451 Views

Al Jazeera releases powerful exclusive footage of Palestinians fleeing Shujayea offensive

by Kevin Kriedemann & Joy Sapieka | 28 July 2014 | 336 Views

15 die in Kombi crash along Masvingo-Beitbridge highway - WhatsApp update

by Concerned Citizens | 28 July 2014 | 2836 Views

Marvo Stationery workers continue to suffer - Editor,Marvo Stationery ...

by Concerned Marvo Workers | 28 July 2014 | 1106 Views

'Zanu-PF's relationship with China should be investigated'

by Staff reporter | 28 July 2014 | 1999 Views

'Popularity is different from power,' says Tsvangirai

by Staff reporter | 28 July 2014 | 2462 Views

Zapu seek correction of war 'distortions' - A clique of former liberat...

by Staff reporter | 28 July 2014 | 1586 Views

Mujuru skips Grace Mugabe birthday bash

by Staff Reporter | 28 July 2014 | 3946 Views

Trouble in paradise: Beyonce, Jay Z barely talking, claim

by Agencies | 28 July 2014 | 1939 Views

Tsvangirai's ex-general joins MDC Renewal

by Staff reporter | 28 July 2014 | 2355 Views

'Tsvangirai trying to return to government via dubious means'

by Staff reporter | 28 July 2014 | 1693 Views

Makorokoza axe colleague to death

by Staff reporter | 28 July 2014 | 1425 Views

Zanu-PF tense over Grace Mugabe

by Staff reporter | 28 July 2014 | 2562 Views

Mutumwa Mawere joins Tendai Biti

by Staff reporter | 28 July 2014 | 2499 Views

Dembare beat Caps United

by Eddie Chikamhi | 28 July 2014 | 1071 Views

Bosso, Bantu in a stalemate

by Sports reporter | 28 July 2014 | 900 Views

'Mugabe promoting a culture of political dynasty,' says Biti

by Staff reporter | 28 July 2014 | 1184 Views

Mtukudzi doctorate 'null and void'

by Staff reporter | 28 July 2014 | 1368 Views

Soldiers in robbery spree

by Staff reporter | 28 July 2014 | 1832 Views

Deadly Ebola virus, Zimbabwe in red alert - ZIMBABWE is on high alert ...

by Staff reporter | 28 July 2014 | 1588 Views

Woman fakes mother's death, jailed 2 years

by Staff reporter | 28 July 2014 | 1370 Views

Tsvangirai extends begging bowl to the British - MDC-T leader Mr Morga...

by Daniel Nemukuyu | 28 July 2014 | 1211 Views

Mentally ill woman crushes niece's head - POLICE have arrested a 29-ye...

by Thupeyo Muleya | 28 July 2014 | 824 Views

College banned from awarding degrees - THE Zimbabwe Council for Higher...

by Mpumelelo Nyoni | 28 July 2014 | 1443 Views

Student teacher steals to pay prostitute - A STUDENT teacher at Joshua...

by Marvelous Moyo | 28 July 2014 | 1566 Views

Baba Jukwa saga: Cops to interview everyone mentioned - POLICE yesterd...

by Freeman Razemba | 28 July 2014 | 1319 Views

Tsvangirai 'nikuved' in UK - MDC-T leader Morgan Tsvangirai was last w...

by Staff reporter | 28 July 2014 | 2292 Views

Entertainment

Gospel singer wants prostitution to be legalised - Controversial gospe...

by Staff reporter | 27 July 2014 | 2653 Views

Zimbabwean boy revels in Soul Brothers music

by Lovemore Dube | 26 July 2014 | 5958 Views

Carl Joshua Ncube to tour with brand new material - The brand new stan...

by Staff Reporter | 24 July 2014 | 899 Views

Macheso gears up for UK tours - In an apparent joint preparation for t...

by Entertainment reporters | 23 July 2014 | 1754 Views

DJ Munya is back - After a two-year hiatus, DJ Munya - real name Munya...

by Entertainment Reporter | 23 July 2014 | 3155 Views

White guy plays chitekete - https://www.youtube.com/watch?v=kp16XF-Tcf...

by Staff Reporter | 23 July 2014 | 5006 Views

Beyonce and Jay Z to separate - claims - Jay Z and Beyonce are reporte...

by Staff reporter | 22 July 2014 | 4125 Views