BUSINESS

South African Airways (SAA) has run out of money and is teetering on the edge of bankruptcy, according to information given to the country’s parliament. It is thought the national carrier may soon be unable to pay salaries. The cash-flow statement shown to MPs and seen by the BBC paints a picture of an airline haemorrhaging cash. It says that ...

Barclays Bank Zambia has announced a first quarter profit before tax of k88 million representing a growth of 60% compared to the same period last year. Announcing the bank’s quarterly financial results for the quarter ended 31st March 2017, Managing Director Mizinga Melu says the bank’s operating costs reduced by 9% remaining well controlled and producing cost to income ratio ...

Indo Zambia Bank is planning to roll out its micro-credit programme which aims at providing affordable loans to economically disadvantaged women. The programme is helping bridge the financial gap among poor communities through provision of loans to women’s clubs and inculcating in them, a culture of saving. Indo Zambia Bank Administration and Public Relations Manager Herbert Tembo has told QTV ...

Barclays Bank Africa Group Limited says it remains committed to shared growth across the African continent. Chief Executive Officer, Maria Ramos said this when she announced the bank’s half-year results for the period ending 30th June 2016 via a conference call in Lusaka today. Ms. Ramos also disclosed that Barclays bank Africa’s revenue from the rest of Africa increased to ...

Hong Kong shares joined the downward trend across Asia as trading resumed after the Lunar New Year break. The Hang Seng opened with a sharp 4% drop to 18,508.96 points. Markets in China remain closed due to a longer new year break. Those markets that were open in the region over the past days had all seen hefty losses. Japanese ...