Vingirai threatens ZB pull out
Government is likely to regain its 23,5 percent stake in ZB Financial Holdings (ZBFH) after businessman Nicholas Vingirai threatened to pull out of the banking group due to shareholder disagreements.
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Government is likely to regain its 23,5 percent stake in ZB Financial Holdings (ZBFH) after businessman Nicholas Vingirai threatened to pull out of the banking group due to shareholder disagreements.
The split between ZB Financial Holdings (ZBFH) and Intermarket Holdings Limited (IHL) — which have been operating as a single entity for the past 11 years — seemed imminent last week after details emerged that their relationship had irretrievably broken down.
Embattled banker, Nicholas Vingirai, is seeking government intervention to rescue a deal in which he is expected to increase his shareholding in banking group, ZB Financial Holdings Limited (ZBFHL), from whose board he was booted out at a recent shareholder meeting.
Nicholas Vingirai, through his investment vehicle, Transnational Holdings Limited (THL), has taken control of Mashonaland Holdings (Mashold) following the appointment of his crony, Michael Mahachi, as chairman of the property investment and development concern.
Businessman Nicholas Vingirai has demanded $2,7 million from ZB Financial Holdings (ZBFH) in accruing dividends for the past 11 years.
The Reserve Bank of Zimbabwe (RBZ) is reportedly locked in negotiations with Time Bank Zimbabwe Limited over monies owed by to the latter and whose return may shape the local financial institution’s rebound to banking business. This also comes amid indications that Transnational Holdings Limited is set to reclaim a 26 percent stake in ZB […]
Former Intermarket Holdings Limited chief executive Nicholas Vingirai who was facing 11 counts of theft and two of externalisation involving US$300 000, R1 500 000 and Z$5 216 727 was freed yesterday.
FORMER Intermarket Holdings Limited chief executive Nicholas Vingirai, who is facing 11 counts of theft and two of externalising large sums of foreign currency, had his bail conditions relaxed yesterday.
Former Intermarket Holdings Limited Chief Executive Nicholas Vingirai, who fled Zimbabwe in 2004 after he was accused of illegally moving funds abroad, has been arrested by Interpol in Taiwan while on a trip from his safe haven in Singapore.