Articles tagged 'afrasia'

Chanakira's Botswana assets face auction 19 February 2016 HARARE - Businessman Nigel Chanakira's Kingdom Bank Africa Limited (KBAL) assets are set to go under the hammer in Botswana, in a move described by analysts as a final nail to the entrepreneur's crumbling empire. KBAL, which had no resident depositors based in Botswana, was in May last year pl...
AfrAsia depositors receive $1,4m 23 July 2015 HARARE - The Depositor Protection Corporation (DPC) has so far disbursed over $1,4 million to AfrAsia Bank (AfrAsia) — formerly Kingdom Bank — depositors, with about $2 million still outstanding, businessdaily has established. “As at July 20, 2015, DPC has paid 43 percent of the insured deposi...
6 banks fail to meet RBZ minimum capitalisation 3 December 2014 HARARE - Six banks have failed to meet the Reserve Bank of Zimbabwe (RBZ)’s $25 million minimum capitalisation whose deadline was June 2014, Finance minister Patrick Chinamasa has said. As at September 30, 2014, only 14 out of 20 operating banks — excluding POSB — were in compliance with the p...
Meikles not keen on banking 20 October 2014 HARARE - Listed retail and hospitality group Meikles Limited (Meikles) says it has no plans to venture into the banking industry again. The group, which recently diversified into mining and beauty sector, is planning to restructure and has once been involved in the financial sector. In 2008...
AfrAsia boss visits Zim 16 October 2014 HARARE - AfrAsia Bank Limited (ABL) Mauritius chief executive James Benoit was recently in Zimbabwe to “firm up” discussions on the hunt for a new managing director for AfrAsia Bank Zimbabwe (ABZ) and strategies to solve the banking unit’s solvency challenges, Business Live has established. Th...
Massive losses on ZSE 6 April 2014 HARARE - The Zimbabwe Stock Exchange (ZSE)’s market capitalisation slumped by $642,8 million to $4,56 billion in the first quarter of 2014 as stock prices plummeted, a latest market report reveals. In the report, financial group AfraAsia Holdings Zimbabwe Limited (AfrAsia) said the slackening ...
AfrAsia back in the black 4 March 2014 HARARE - Afrasia Zimbabwe Holdings Limited (AfrAsia) —  formerly Kingdom Financial Holdings Limited (KFHL) — recorded a $174 862 profit in the half year to December 2013, recovering from a $16 million loss incurred in the 18 months to June 2013. Charles Wawn, the group’s acting chairperson, sa...
AfrAsia appoints new MD 9 January 2014 HARARE - Afrasia Bank Zimbabwe (AfrAsia Bank) — formerly Kingdom Bank Limited — has appointed Tineyi Mawocha as managing director (MD). His appointment is with effect from January 6, 2014. Mawocha, former Tetrad Bank MD, replaces Francois Molife who resigned early last year. Sylvester De...
AfrAsia pays Chanakira $12m 21 October 2013 HARARE - Mauritius-based AfrAsia Bank Limited (AfrAsia) will pay prominent banker Nigel Chanakira $12 million following the disposal of his 30 percent stake in financial group AfrAsia Kingdom Zimbabwe Limited (AKZL). The transaction awaits shareholders' approval at an extraordinary general mee...
AfrAsia upbeat about Zim 11 June 2013 HARARE - Mautitius-based AfrAsia Bank Limited (ABL) says it remains upbeat about its investment in Zimbabwe despite the country s fragile economy and political uncertainty. ABL holds a 35 percent stake in financial group AfrAsia Kingdom Bank Limited (AKZL), formerly Kingdom Financial Holdings Lim...
AfrAsia scoops best bank award 7 June 2013 HARARE - AfrAsia Kingdom Zimbabwe Limited (AKZL) s anchor shareholder AfrAsia Bank Limited (ABL) has won the African Banker Awards (ABA) s best bank in southern Africa 2013 prize. The Mauritius-based regional banking group was acknowledged by ABA at an annual ceremony held in Morocco last week fo...
AfrAsia targets $50m capitalisation 30 May 2013 HARARE - AfrAsia Kingdom Zimbabwe Limited (AKZL) has embarked on initiatives to strengthen the group s businesses in response to regulatory requirements for additional capital and in preparation of an expected economic upturn, which will open new opportunities in the sector. The group said it wil...
AfrAsia to up AKZL stake? 13 May 2013 HARARE - A Reserve Bank of Zimbabwe (RBZ) announcement that it will approve and facilitate shareholding changes in AfrAsia Kingdom Zimbabwe Limited (AKZL) has raised speculation that Mauritius-based AfrAsia Bank Limited (ABL) could be planning to increase its stake in the financial group. This co...
AfrAsia mulls job cuts 1 May 2013 HARARE - AfrAsia Kingdom Zimbabwe Limited (AKZL) is retrenching part of its staff under a voluntary separation exercise , businessdaily has established. The financial services group recently said it was restructuring or streamlining operations as part of strategies to contain costs and improve ef...
AfrAsia restructures 22 April 2013 HARARE - A restructuring exercise looms at AfrAsia Kingdom Zimbabwe Limited (AKZL) as the financial services group plans to streamline operations to improve efficiency and contain costs. Sekai Chitemerere, AKZL s communications head, told businessdaily that the group was reviewing its business in...