4 firms warn shareholders

Four companies listed on the Zimbabwe Stock Exchange are trading under Cautionary Statements, a stock market analyst has revealed.

CFI Holdings, Rio Zimbabwe, Afre Limited and AICO Limited are battling as the country faces a severe cash crisis reminiscent of the days of hyperinflation.

A major financial scam was recently uncovered at Afre, while RioZimfaces a cash crisis.

It is reliably understood that the mining giantRio is over borrowed to the tune of about $50 million from Barclays Bank. A boardroom reshuffle is pending as some shareholders are disgruntled about the way the company is being run by the present board

Post published in: Business

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