Arsenal and WorldRemit launch second edition of Future Stars

Arsenal and WorldRemit launch second edition of Future Stars 1

Arsenal and online money transfer service, WorldRemit, are offering one male and one female football coach from Africa or the Americas the chance to attend an exclusive training programme with Arsenal Football Development coaches in London. Now in its second edition, the “Future Stars” programme was developed by WorldRemit and Arsenal to celebrate the positive impact that grassroots youth football coaches have on their communities, helping the children they train to develop life skills both on and off the pitch. Future Stars is free to apply for and open to…

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Nedbank Zim posts $14m profit

Nedbank Zim posts $14m profit 2

By Michael Tome Nedbank Zimbabwe Limited posted a profit after tax of $14,3 million for the six months to June 30, 2019 amid economic difficulties being experienced in the country. The financial institution’s operating income grew to $47,564 million from $21,178 million realised in the comparable period in 2018 as total deposits stood at $915,731 million in the period under review. Profit before tax was reported at $18,425 million as gross loans and advances grew to $278,1 million. In a statement accompanying the results, Nedbank chairman Shepherd Shonhiwa highlighted headwinds…

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Hippo Valley Estates faces ZSE delisting after failing to declare financial results

Hippo Valley Estates faces ZSE delisting after failing to declare financial results 3

By Alois Vinga HIPPO Valley Estates is left with less than a week to declare financial results or risk being removed from the Zimbabwe Stock Exchange (ZSE). In a recent announcement, ZSE chief executive Justin Bgoni said that if the company did not declare its results within a week, steps to suspend the firm will be taken. “Hippo was informed of the breach and directed to publish their audited financial statements on or before Monday 19 August 2019 as a corrective measure. ZSE shall commence steps to unilaterally suspend trading…

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Old Mutual refuses to take Moyo back

Old Mutual refuses to take Moyo back 5

Last updated Aug 18, 2019 32,619 Lawyers for Old Mutual submitted to the Johannesburg High Court on Friday that there was a clear breakdown of trust in the relationship between Peter Moyo and the board. Old Mutual CEO Peter Moyo Old Mutual has taken its Zimbabwean born CEO to court for clarity on whether a ruling by the same court in July directed the company to allow him to return to work. Moyo arrived at the insurance giant’s Sandton offices after the court ruled that his dismissal was unlawful. Representing…

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ZB to launch aggressive diaspora banking product, ropes in Ria Money Transfer

ZB to launch aggressive diaspora banking product, ropes in Ria Money Transfer 7

By Alois Vinga FINANCIAL services group, ZB Financial Holdings (ZBHF) will soon launch an aggressive diaspora banking product which will lessen the risk associated with sending money for targeted use through dishonest family members. This comes at a time when the institution has also partnered globally acclaimed Ria Money Transfer to serve its client base. Speaking to NewZimbabwe.com Business Friday, ZBFH chief executive, Ron Mutandagayi said that the new product whose launch was delayed by the recent policy shifts but currently awaiting the central bank’s nod, is tailor-made to simplify…

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English football giants Arsenal, WorldRemit re-launch Future Stars

English football giants Arsenal, WorldRemit re-launch Future Stars 10

By Staff Reporter ENGLISH football powerhouse, Arsenal has partnered mobile money transfer agency, World Remit to sponsor a male and female coach from Africa or the Americas to attend an exclusive training programme with the London club. The training programme, launched by the club and World Remit, is being held under the auspices of the Arsenal Football Development coaches in the British capital. The Future Stars programme is the second edition and was introduced to celebrate the positive impact that grassroots youth football coaches have on their communities through helping…

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Caledonia targets 80 000 ounces yearly at Blanket Mine

Caledonia targets 80 000 ounces yearly at Blanket Mine 12

By Alois Vinga LONDON Stock Exchange (LSE) listed mining giant, Caledonia Mining Corporation says plans to increase gold output to 80 000 ounces per year at its Zimbabwean subsidiary, Blanket Mine, are still on course. The company’s chief executive, Steve Curtis, in a recent production update, said plans were on track to achieve the production target of 80 000 ounces per year by 2022 at Blanket Mine. “The Company’s strategic focus continues to be the implementation of the Investment Plan at Blanket, which was announced in November 2014 and revised…

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Alibaba co-founder Tsai set to own all of NBA Nets: reports

Alibaba co-founder Tsai set to own all of NBA Nets: reports 14

Joseph Tsai, co-founder of Chinese e-commerce giant Alibaba, is expected to purchase full control of the NBA’s Brooklyn Nets from Russian businessman Mikhail Prokhorov, according to multiple reports Thursday. Joseph Tsai, co-founder of Chinese e-commerce giant Alibaba The New York Post, New York Times and ESPN reported a deal is close to completion that would have the Taiwanese-Canadian businessman buy the remaining 51 percent of the club he doesn’t currently own. Tsai bought 49 percent of the Nets last year for $1 billion, with the chance to purchase more shares…

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