Articles tagged 'bancabc'

NetOne, BancABC in $10m partnership 18 August 2017 HARARE - Mobile network operator NetOne has partnered BancABC in a $10 million deal that will see the company’s subscribers buying smart phones over a 12-month period. The State-owned NetOne’s acting chief executive, Brian Mutandiro, said the company’s over 6,5 million subscribers will have an...
Cuthbert Dube's home seized over debt 23 June 2017 HARARE - African Banking Corporation is  foreclosing former Premier Service Medical Aid Society (Psmas) chief executive officer Cuthbert Dube’s four-bed roomed home, seized after failing to settle bad debt. This comes amid a surge in foreclosures representing a new wave of distressed property ...
Atlas Mara CEO resigns 17 February 2017 HARARE - Dubai-based financial executive John Vitalo has inexplicably resigned from Atlas Mara, the seven-tier banking group and BancABC Zimbabwe parent, as the sub-Sahara Africa-focussed firm’s share price and continental fortunes continue to tumble. This also comes as the London-listed finan...
Matemera removed from remand 9 February 2017 HARARE - Financial executive and farmer Hashmon Matemera — accused of externalising $300 million — was yesterday removed from remand after the State kept requesting for more time to institute extra-territorial investigations. The ex-BancABC managing director appeared before Harare magistrate R...
Atlas Mara records $4m profit 26 October 2016 HARARE - London-listed Stock Exchange-listed financial services group, Atlas Mara, has recorded a $4 million profit in the nine months to September 2016, down 44 percent from $7,1 million registered in the same period last year. Atlas Mara, which owns BancABC Zimbabwe, yesterday attributed the...
Extra territorial investigations for Matemera's case 3 October 2016 HARARE - Investigating officers handling an externalisation case involving former BancABC managing director Hashmon Matemera are set to travel to Sierra Leone and Tanzania as the probe on how $300 000 000 was taken out of the country rages on.
Atlas Mara to cut jobs, costs 29 August 2016 HARARE - BancABC Zimbabwe parent company, Atlas Mara, said it plans to cut staff as part of an $8 million cost-cutting drive following a difficult first half of the year, during which net profits slumped 71 percent. The group, which buys banking assets in Africa to try and benefit from the reg...
NSSA fires Matemera 12 May 2016 HARARE - The National Social Security Authority (Nssa) has sacked its acting general manager (GM) Hashmon Matemera who is facing charges of conniving with Chinese nationals to facilitate the externalisation of over $300 million. In a staff announcement released yesterday, Nssa said while the a...
Atlas Mara secures $200m for BancABC 11 April 2016 HARARE - Financial services group Atlas Mara has secured a $200 million loan facility from an American firm aimed at capacitating its Africa-focused BancABC subsidiaries. According to the agreement signed between Atlas Mara, which acquired 95,8 percent in BancABC’s operations in Botswana, Zimb...
Atlas Mara eyes Barclays' Africa units 3 March 2016 HARARE - BancABC Zimbabwe's parent company, Atlas Mara Plc (Atlas Mara), is likely to emerge as the front runner to acquire Barclays Plc African assets. This comes as the British bank this week indicated its intention to sell down its 62,3 percent interest in Barclays Africa Group and its shar...
Atlas Mara targets more African acquisitions 30 October 2015 HARARE - BancABC Zimbabwe's parent company, Atlas Mara Plc, says it is close to acquiring two more banks in Rwanda and Zambia as the financial services group moves to consolidate its footprint in Africa. The group's chief executive, John Vitalo, yesterday said his company had reached agreement...
'Zim economic meltdown impacts BancABC' 28 August 2015 HARARE - London-listed financial services group, Atlas Mara, says Zimbabwe’s economic challenges continue to put negative pressure on business performance. The group’s chief executive, John Vitalo, said in the absence of strong economic policies, the slowdown in economic activity in the southe...
BancABC clinches $300m financing deal 12 August 2015 HARARE - BancABC’s parent company, Atlas Mara, has partnered with the United States (US) government’s development finance institution, the Overseas Private Investment Corporation (OPIC), for a $300 million project to finance acquisitions and on-lending across Africa. Under the terms of the agr...
Chitiyo boost for DeMbare 7 August 2015 HARARE - Dynamos have received a major boost ahead of their Chibuku Super Cup first round clash against Whawha with the return to full fitness of star midfielder Ronald Chitiyo. DeMbare hosts the Zimbabwe Prison Correctional Services side at Rufaro Stadium on Saturday with new coach Tonderai N...
Atlas Mara gives ABCH minority shareholders ultimatum 28 April 2015 HARARE - Atlas Mara Co-Nvest Limited (Atlas Mara) has given minority shareholders an ultimatum to sell their shares within six weeks to the United Kingdom-based company for $0,82 per share. This comes after shareholders holding 1,3 percent (3,34 million shares) of Pan African banking group ABC...
Matemera appointed AfrAsia Bank MD 6 January 2015 HARARE – EX-BANCABC Zimbabwe (BancABC) managing director Hashmon Matemera,  has been appointed AfrAsia Bank Zimbabwe Limited (ABZL) managing director – nearly 10 months after Tineyi Mawocha’s departure. As exclusively revealed by Business Live  in September last year, the ex-central banker has...
Atlas Mara reshuffles ABCH top management 9 December 2014 HARARE - ABC Holdings (ABCH)'s top management has been reshuffled — with its chief executive Douglas Munatsi leaving — following the banking group's takeover by Atlas Mara Co-Nvest Limited (Atlas Mara). In August, Atlas Mara — founded by former Barclays Plc boss Bob Diamond and Africa's younge...
DeMbare unlikely to play in Africa 25 November 2014 HARARE - Dynamos' participation in the African Champions League next year has been thrown into uncertainty due to a lack of funds, the Daily News has learnt. The Glamour Boys sealed a record 21 league titles at the weekend after beating How Mine 2-0 to pip ZPC Kariba to the Castle Premiership ...
Hwange draws down $6m BancABC loan 30 October 2014 HARARE - Listed Hwange Colliery Company Limited (Hwange) has drawn down $1,8 million from a $6 million BancABC loan. Its managing director, Thomas Makore, said the drawdown period for the funds, earmarked as working capital for the hard pressed coal producer, is three months. “So far we hav...
Zim bad loans weigh down ABCH 8 October 2014 HARARE - ABC Holdings (ABCH) says its Zimbabwean BancABC unit constituted 42 percent — BWP64 million or $6,9 million — of the banking group's BWP152 million loan impairment charges in the half year to June 2014. The other 58 percent was shared almost equally among its BancABC subsidiaries in B...
Atlas Mara plans $100m ABCH capitalisation 5 September 2014 HARARE - Atlas Mara Co-Nvest Limited (Atlas Mara) plans to inject $100 million into pan-African banking group ABC Holdings (ABCH)'s three major subsidiaries. ABCH’s chief executive, Douglas Munatsi, said the funds will boost capital levels of the group’s Botswana, Zambia and Zimbabwe units. ...
Atlas Mara completes BancABC, ADC acquisitions 23 August 2014 HARARE - Atlas Mara Co-Nvest Limited (Atlas Mara) says it has completed the acquisitions of ABC Holdings Limited (BancABC) and ADC African Development Corporation AG (ADC). “With the successful completion of these acquisitions, Atlas Mara is now a fully operational entity and able to continue ...
Atlas Mara, ADC deal conditions satisfied 19 August 2014 HARARE - Atlas Mara Co-Nvest Limited (Atlas Mara) says the completion conditions for the voluntary public offer of Atlas Mara Beteiligungs AG for African Development Corporation (ADC) have been satisfied. The deal now awaits regulatory approval and the “settlement will take place in accordance...
DeMbare, Bosso in a fix 16 July 2014 HARARE - Dynamos and Highlanders are set for a collision course with their sponsor BancABC if they participate in the One Wallet Cup to be launched this afternoon by mobile service providers NetOne. NetOne, who have sponsored the season opener – Charity Shield - for the past three years, will ...
Atlas Mara's ADC acquisition on course 7 July 2014 HARARE - ATLAS Mara Co-Nvest Limited (Atlas Mara)'s acquisition of banking group ABC Holdings (ABCH, parent company of BancABC) is on course following its announcement of the voluntary public share-for-share offer for all shares of ABC major shareholder African Development Corporation AG (ADC). ...