BancABC narrows losses

BancABC was taken over by Atlas Mara
BancABC was taken over by Atlas Mara

ABC Holdings Limited, the parent company to BancABC, narrowed losses it incurred in the first year of its acquisition by Atlas Mara Limited in July 2015.

This is evident from its preliminary group results for the year ended December 31, 2015. In comparison with its previous year’s performance, the group recorded an improvement of attributable loss of $0.6 million (P6.51 million), from the reported loss of $48.6 million (P527.23m) in 2014.

The group’s acting chief executive officer, Blessing Mudavanhu said while challenging, the first year of acquisition has been met with considerable success.

Editor's Comment
Tana project a welcome development

Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...

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