Breaking News

Government cedes 49% in Agribank

by Business reporter
26 February 2013 | 1901 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

Comments

Latest News

96 illegal immigrants including Zimbabweans arrested in SA - Johannesb...

by Staff reporter | 06 May 2016 | 1513 Views

Panic as Zimbabwe economy dies - There is palpable fear that the count...

by Staff reporter | 06 May 2016 | 2006 Views

Satanist convicted of 17 counts of rape - Timothy Musakanya a 27 year ...

by Staff reporter | 06 May 2016 | 1056 Views

Outrage over bond notes - Economic analysts, opposition parties and or...

by Staff reporter | 06 May 2016 | 1255 Views

'We know how Zanu-PF steals elections,' says Mujuru's allies - Zimbabw...

by Staff reporter | 06 May 2016 | 1113 Views

Grace Mugabe courts Zanu-PF infamous seven - First Lady Grace Mugabe h...

by Staff reporter | 06 May 2016 | 1214 Views

Family demands lobola for dead daughter - A FAMILY from Mawabeni in Ma...

by Nqobile Tshili | 06 May 2016 | 999 Views

Mugabe delegates Grace to conduct some national assignments - THE budg...

by Nduduzo Tshuma | 06 May 2016 | 1024 Views

Businessman sues Magaya for $27,000 - A ZVISHAVANE-based businessman, ...

by Mashudu Netsianda | 06 May 2016 | 982 Views

Zimbabwe Bond notes: Key questions answered - The Reserve Bank of Zimb...

by Staff reporter | 06 May 2016 | 907 Views

'Bond notes good BUT . . !' - ECONOMIC analysts say the proposed $200 ...

by Business Reporters | 06 May 2016 | 923 Views

Keep your quail birds, says Mnangagwa - THE government supports the pr...

by Elita Chikwati | 06 May 2016 | 758 Views

Horror as 5 family members are killed in inferno - FIVE members of the...

by Nqobile Tshili | 06 May 2016 | 665 Views

Pirate taxis wreak havoc - Commuter omnibuses and pirate taxis are wre...

by Innocent Ruwende | 06 May 2016 | 601 Views

Nissan unveils Navara 2015 - Nissan last week unveiled the 2015 Nissan...

by Tinashe Makichi | 06 May 2016 | 614 Views

Zimbabweans expressed mixed feelings on bond notes - Zimbabweans have ...

by Abigail Mawonde and Bianca Leboho | 06 May 2016 | 472 Views

Billiat sets new benchmark of excellence in the South African Premiers...

by Robson Sharuko | 06 May 2016 | 567 Views

Econet launches massive consumer promotion - Zimbabwe's biggest teleco...

by Business Reporter | 06 May 2016 | 476 Views

Tsvangirai must come out clear on homosexuality

by Tafara Shumba | 06 May 2016 | 821 Views

The Truth: Only Christians in Politics Can Improve Society - Ever sinc...

by Wilbert Mukori | 06 May 2016 | 289 Views

Chinamasa ignorant of how much PSMAS owes employees

by Stephen Jakes | 06 May 2016 | 695 Views

MP confront Minister over NRZ workers problems

by Stephen Jakes | 06 May 2016 | 933 Views

Zanu PF MP accuses BCC of not fully utilising ZINARA allocation

by Stephen Jakes | 06 May 2016 | 659 Views

Overcrowding rocks Harare flats

by Stephen Jakes | 06 May 2016 | 782 Views

Zapu reshuffles RSA province

by Stephen Jakes | 06 May 2016 | 642 Views

Pastor apologizes for raping and murdering woman - UKHOZI FM’s forme...

by Staff Reporter | 06 May 2016 | 1097 Views

Entertainment

Dr Rebecca Malope to perform in Birmingham

by Admore Tshuma | 04 May 2016 | 2773 Views

Charambas to unleash new gospel videos - Gospel music star Charles Cha...

by Staff reporter | 04 May 2016 | 1429 Views

Muna Hacha Maive Nei? The first speculative fiction novel in ChiShona ...

by Stephen Jakes | 04 May 2016 | 1569 Views

Tupac's mother, Afeni Shakur Davis, dies at 69

by Staff Reporter | 04 May 2016 | 3222 Views

'Ekhweni lami' a classic value for money project

by Vusmann | 03 May 2016 | 2805 Views

Macheso relishes SA tour - "We have performed in South Africa before, ...

by Tawanda Marwizi | 03 May 2016 | 2310 Views
iBlog

Hp Omen 15-5116tx – The Next Generation Gaming Laptop

the hp omen 15-5116tx is being targeted at the performance hungry gamers. it comes in a single variant boasting an eye-catching attractive design. the notebook offers a slim, lightweight chassis and appears like a piece of art than an actual gaming... Read More
Sergey 11 June 2015 ago

Mobile Spy Software Maker Mspy Hacked

mspy, the makers of a software-as-a-service product that claims to help more than two million people spy on the mobile devices of their kids and partners, to have been massively hacked. a public relations pitch from mspy to krebsonsecurity in march ... Read More
SecNews 17 May 2015 ago