Breaking News

Government cedes 49% in Agribank

by Business reporter
26 February 2013 | 2227 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

Should airtime and street vendors pay the $1 a day State levy?

Yes
11.69%
No
81.95%
Desperation
6.36%
881

Comments

News Updates

Email:

Latest News

MLF's Magagula and Mugabe can never be Leaders of a Diverse Country - ...

by Ryton Dzimiri | 01 September 2014 | 131 Views

Jonathan Moyo, Obert Mpofu eye Zanu PF chairmanship - Zanu PF politbur...

by Staff Reporter | 01 September 2014 | 206 Views

China was Mugabe's last chance to get ZimAsset funding he got nothing ...

by Wilbert Mukori, Secretary General Zimbabwe Social Democrats | 01 September 2014 | 233 Views

Highlanders, Dynamos clash in TM-Pick'n'Pay challenge - A new sponsor ...

by Staff Reporter | 01 September 2014 | 715 Views

Two more toll gates open

by Staff Reporter | 01 September 2014 | 1555 Views

'I am looking for Sidanile and Nkosilathi Nyathi' - WhatsApp update - ...

by Gervasio Tshuma | 01 September 2014 | 790 Views

Shame on you! - We are living on precious time. The young Zimbabwean ...

by Tafadzwa Murwisi | 01 September 2014 | 2182 Views

Six injured in road accident - Pictures - Six people were reportedly i...

by Staff reporter | 01 September 2014 | 2861 Views

Song on MDC-T's call for donations - Video - Song on MDC-T's call for ...

by Youtube | 01 September 2014 | 1316 Views

'New Zimbabwe' by 2018 - The year is 2018 and the spotlight is on a sm...

by Obert Gutu | 01 September 2014 | 2435 Views

Mugabe raps Zanu-PF Harare leadership - President Robert Mugabe has sl...

by Staff reporter | 01 September 2014 | 1567 Views

Australia's shock one-day defeat to Zimbabwe raise alarm bells - Melbo...

by Reuters | 01 September 2014 | 1377 Views

Mthwakazi does not need sympathy from Zimbabweans - Editor,The recentl...

by David Magagula | 01 September 2014 | 1762 Views

Zimbabwe Chief Justice's offices burgled - Unknown people broke into C...

by Staff reporter | 01 September 2014 | 1616 Views

'I'm in control,' says Mugabe - President Robert Mugabe has stamped au...

by Staff reporter | 01 September 2014 | 4004 Views

'Mugabe's octopus grip on power has impoverished Zimbabwe' - MDC-T lea...

by Staff reporter | 01 September 2014 | 1282 Views

Avenging spirit kills 20 family members in 2 years

by Danisa Masuku | 01 September 2014 | 4547 Views

Sister attempts to bed brother

by Chido Macherenje | 01 September 2014 | 5146 Views

Marriage collapses as uncle sends married niece explicit pictures

by Staff reporter | 01 September 2014 | 5453 Views

Brutal attack over missing foreskins - AN action-packed drama reported...

by Staff reporter | 01 September 2014 | 3077 Views

Man displays 'girlfriend's' picture in matrimonial bedroom - A MADLY i...

by Staff reporter | 01 September 2014 | 3866 Views

Drama as man breaks woman's leg for dancing with another man - HELL ha...

by Michael Magoronga | 01 September 2014 | 2848 Views

Haulage truck accident survivors speak out - TWO passengers who surviv...

by Staff Reporter | 01 September 2014 | 2398 Views

Meet the new Miss Gweru

by Sukoluhle Ndlovu | 01 September 2014 | 1743 Views

Stillborn baby goes missing from hospital - A STILLBORN baby reportedl...

by Danisa Masuku | 01 September 2014 | 1684 Views

Uncle rapes pregnant new bride - INSTEAD of ensuring her niece's safet...

by Michael Magoronga | 01 September 2014 | 3415 Views

'Ngidinga izihlobo zakithi' - jhb south Africa 2014-08-22 19:13:38Mina...

by Thabani Dlamini | 01 September 2014 | 1699 Views

Mugabe returns from China with a bag of secretive agreements

by Staff reporter | 01 September 2014 | 2641 Views

Gono mysteriously travelled to US while under US travel embargo

by Staff reporter | 01 September 2014 | 3735 Views

Rapist claims he owns teen victim's privates

by Auxilia Katongomara | 01 September 2014 | 2484 Views

Entertainment

ZBC receives TV programmes from South Korea - The Korean Ambassador to...

by Staff Reporter | 29 August 2014 | 2185 Views

Roki cancels SA show

by Sophia Chese | 29 August 2014 | 1939 Views

Zimbabwe Got Talent on the cards - CHINESE Federation of Zimbabwe (CFZ...

by Staff reporter | 28 August 2014 | 1659 Views

Tuku to Deliver Inaugural Hugh Masekela Lecture

by Staff Reporter | 28 August 2014 | 2151 Views

Controversy over Bev's album - Newly-appointed Msasa Bricks Ambassador...

by Staff reporter | 27 August 2014 | 2599 Views

Viewers slam 'sub-standard' ZBCtv program - VARIOUS ZBCtv viewers have...

by Staff reporter | 27 August 2014 | 2549 Views

John Legend cancels Zimbabwe show

by Showbiz Reporter | 27 August 2014 | 4862 Views

Macheso's yet to be released album sold on Harare streets - Pirates ha...

by Staff reporter | 26 August 2014 | 3858 Views