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QV Pharmacies in trouble

QV Pharmacies in trouble

QV PHARMACIES has been placed under provisional judicial management after an urgent application by one of its creditors and faces eviction from its business premises  over rental arrears, according to court documents seen by The Source on Tuesday. The company is a subsidiary of troubled pharmaceutical group CAPS Holdings. The…

Zimbabwe economy to grow by 6.1 pct in 2014 – Chinamasa

Zimbabwe economy to grow by 6.1 pct in 2014 – Chinamasa

Zimbabwe’s economy is seen growing by 6.1 percent next year, rising to 6.4 in 2015 underpinned by ZimAsset, and recovery in agriculture, mining and construction, finance minister said as he presented a $4.4 billion national budget  on Thursday. Inflation, is seen ending the year at 1.5 percent but the rate…

2014 budget will be fictitious, govt too broke – Biti

2014 budget will be fictitious, govt too broke – Biti

Former finance minister, Tendai Biti  said the 2014 budget to be presented on Thursday will be ‘fictitious’ as the government does not have the funds to back it up.  Crystal Addressing journalists on the state of the economy on Tuesday, Biti condemned government for moving away from the cash budget which…

Zimbabwe cash crush: Angry customers assault local bank staff

Zimbabwe cash crush: Angry customers assault local bank staff

Angry Allied Bank depositors on Monday assaulted workers at the Third Street Branch and vandalised property after they failed to withdraw their money, a sign of deepening cash shortages in the country. Onlookers alleged that a group of soldiers who had been queuing to withdraw their salaries attacked the bank…

The curse of Zimbabwe’s indigenous owned banks

The curse of Zimbabwe’s indigenous owned banks

So Trust Bank is no more! Bill’s project has derailed. The one they call ‘Beans’ has joined the lengthening queue of ‘failed bankers’ of the indigenous ilk. The going might be tough, but surely something must be terribly wrong. Why is it that only indigenous banks are failing? Why are…