New Zealander to inject $2 billion in new bank

New Zealander to inject $2 billion in new bank
Published: 22 June 2018
A New Zealand based investor, Worldwide Capital Corp, plans to invest over $2,2 billion in establishing and financing operations of a new commercial bank in Zimbabwe, according to documents seen by Business Weekly.

Registered already as Diamond Bank Ltd, the investor has received-in principle - approvals from the Reserve Bank of Zimbabwe after meeting general licensing conditions for a commercial bank.

The breakdown of the investment and timelines for deployment of the funds were, however, not immediately available but sources close to the development indicated this would entail lines of credit to various sectors of the economy, with much bias towards infrastructure and agriculture as well as capitalisation of the new financial institution.
- Business Weekly
Tags: Bank,

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