Zamco ready to bail out Merlin
The Zimbabwe Asset Management Company (Zamco) says it is ready to disburse a $5 million recapitalisation facility to Merlin once the company is handed over to its shareholders by the judicial manager.
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The Zimbabwe Asset Management Company (Zamco) says it is ready to disburse a $5 million recapitalisation facility to Merlin once the company is handed over to its shareholders by the judicial manager.
David Whitehead Limited has dismissed claims by Chegutu West Member of Parliament Dexter Nduna that the company was failing to account for a $2 million facility extended by the Reserve Bank of Zimbabwe last year, saying at no point were the funds directly handled by the management.
The revival of operations at David Whitehead Textiles is in limbo after the judicial manager failed to account for the $2 million bailout the ailing firm received from the Zimbabwe Asset Management Company.
By MacDonald Dzirutwe Zimbabwean state-owned asset management firm has taken up $480 million in bad loans from banks to help restore viability in the financial sector since its launch two years ago, its chief executive said on Thursday. The Zimbabwe Asset Management Company (ZAMCO) was created by the central bank in August 2014 to take over […]
HARARE – Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says banks must not attach defaulting debtors’ properties, but restructure bad debts instead.
By MacDonald Dzirutwe Zimbabwe’s central bank has through its asset management company taken over $65 million in non-performing loans from banks to help restore viability in the sector, central bank governor John Mangudya said in a monetary policy statement on Wednesday. The Zimbabwe Asset Management Company (ZAMCO) was created by the central bank last August […]