Breaking News

Government cedes 49% in Agribank

by Business reporter
26 February 2013 | 2116 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 Zimbabweans be deported from the UK?

Yes
25.54%
No
72.28%
Not sure
2.17%
184

Comments

News Updates

Email:

Latest News

No water for five days - WhatsApp update - Please note that Bulawayo24...

by Beitbridge Resident | 18 April 2014 | 552 Views

Heavy police deployment for ZITF - Bulawayo police have increased thei...

by Staff Reporter | 18 April 2014 | 502 Views

Leave serial womanising to Morgan Tsvangirai - Mugabe

by Staff Reporter | 18 April 2014 | 2028 Views

Stepfather disappears after rape incident - POLICE in Mutare have laun...

by Takudzwa Nderere | 18 April 2014 | 1480 Views

Woman kills son (3) to please lover - A MUTASA woman was last week arr...

by Brenda Saburi | 18 April 2014 | 1693 Views

Mystery murder, mutilation - MUTASA villagers were left weak-kneed fol...

by Liberty Dube | 18 April 2014 | 1348 Views

Didymus Mutasa now 'fit as a fiddle' - ZANU-PF secretary for administr...

by Abel Zhakata | 18 April 2014 | 1224 Views

Assassination attempt on Mugabe - During the struggle for independence...

by Staff reporter | 18 April 2014 | 3950 Views

Zim woman nabbed with 25kgs of drugs in India - India's Customs and C...

by Staff reporter | 18 April 2014 | 1022 Views

FC Platinum thrash Dembare to lift Uhuru Cup - Dynamos 0 - 3 FC Platin...

by Staff reporter | 18 April 2014 | 1480 Views

MDC-T top gun attends Independence celebrations - In what could be bes...

by Staff reporter | 18 April 2014 | 2010 Views

Corrupt people will be punished, says Mugabe - President Robert Mugabe...

by Staff reporter | 18 April 2014 | 718 Views

Mugabe reverses on indigenisation

by Staff reporter | 18 April 2014 | 3757 Views

'I was forced to give him a blow job' - A Police officer has been for...

by Staff reporter | 18 April 2014 | 4693 Views

Tsvangirai prays for 'betrayers' - Opposition leader, Morgan Tsvangira...

by Staff reporter | 18 April 2014 | 2125 Views

Zimbabwean woman murdered in Namibia - The lifeless body of a 43-year-...

by Staff reporter | 18 April 2014 | 2578 Views

Prophet Makandiwa promises freedom - United Family International Churc...

by Staff reporter | 18 April 2014 | 2367 Views

MDC-T, Zapu boycott Independence celebrations - The MDC-T has revealed...

by Staff reporter | 18 April 2014 | 1541 Views

Boy (16) impregnates cousin - A 16-YEAR-OLD Bulawayo boy and his cousi...

by Staff reporter | 18 April 2014 | 2575 Views

Zanu-PF chéf bashes lpregnant over - A 61-YEAR-OLD senior Zanu-PF off...

by Staff reporter | 18 April 2014 | 1517 Views

5 arrested over Emakhandeni murder - POLICE in Bulawayo have arrested ...

by Staff reporter | 18 April 2014 | 1489 Views

Welshman Ncube not bothered by resignations of senior members - MDC l...

by Staff reporter | 18 April 2014 | 807 Views

Welshman Ncube's Independence Day message - Today we celebrate our 34t...

by Welshman Ncube | 18 April 2014 | 603 Views

'Zimbabweans voted for a clueless party,' says Prof Ncube - MDC presid...

by Lulu Brenda Harris | 18 April 2014 | 922 Views

MDC-T official assaulted in Bulawayo

by Ndou Paul | 18 April 2014 | 1394 Views

Mukanya's independence message - I wish to send my revolutionary greet...

by Thomas Mukanya Tafirenyika Mapfumo | 18 April 2014 | 1401 Views

MDC-T activists arrested for intra-party violence released on bail - E...

by Staff reporter | 18 April 2014 | 575 Views

Entertainment

All-white party for Dongo - Soulful singer Trevor Dongo is set perform...

by Jonathan Mbiriyamveka | 18 April 2014 | 1727 Views

Tuku Greatest Hits Concert postponed - Oliver Mtukudzi's Greatest Hits...

by Staff reporter | 16 April 2014 | 1275 Views

'Corruption is betrayal of the values of the liberation struggle' says...

by Jonathan Mbiriyamveka | 16 April 2014 | 1780 Views

Stand Up comedian to record one man show in Zimbabwe - Daliso Chaponda...

by Staff reporter | 16 April 2014 | 1139 Views

L'Vovo Derrango billed for Bulawayo show - THOSE attending the Zimbabw...

by Bongani Ndlovu | 16 April 2014 | 1203 Views

Artist Profile - Interview with D2X

by Staff Reporter | 14 April 2014 | 1558 Views

Generations actor's Bulawayo show flops

by Showbiz Reporter | 14 April 2014 | 5922 Views

Mukanya gets 'wild' applause - Self exiled legendary musician Dr Thoma...

by Staff reporter | 13 April 2014 | 5219 Views

Freshlyground to perform in Zim's HIFA after insulting Mugabe - South...

by Arts reporter | 13 April 2014 | 3589 Views

Generations' actress draws big crowd

by Staff Reporter | 13 April 2014 | 5479 Views

Generations actress in Zimbabwe - GENERATIONS, a South African soapie ...

by Bongani Ndlovu | 12 April 2014 | 3053 Views
iBlog

Magic Spells To Get Want +919828027633

If you are looking for happiness, prosperity, success, and health in your life then ahmed molvi ji is the right stoppagehe helped many peoples who have lost their track to live life, who were depressed and specially helped addicted person to lead a n... Read More
ahmedmolvi 14 hours ago ago

Galileo Is A Tool That Can Spy All Kinds Of Mobile Devices

hackers from italy said that they could hack any smartphone.there is a tool in the software market, that can spy the owners of devices running ios, android, windows phone, blackberry, as well as mac and pc. italian hackers from hacking team reporte... Read More
ITnews 25 January 2014 ago