FINANCIAL SERVICES

Discovery granted a banking licence

The Registrar of Banks has granted Discovery a banking licence, the JSE-listed company said in a statement on Monday.This follows the decision by the Registrar of Banks in October 2016 to give Discove...

By Staff reporter | Published: 16 October 2017

FINANCIAL SERVICES

FMB completes acquisition of Barclays

MALAWI Stock Exchange listed FMB Capital Holdings has completed the acquisition of a majority stake in Barclays Bank Zimbabwe after receiving approvals for all regulatory requirements. This gives FMBC...

By Staff reporter | Published: 16 October 2017

FINANCIAL SERVICES

Barclays deal sealed

British lender Barclays Plc on Thursday sealed disposal of its local unit to Malawi's FMB Capital Holdings (FMBCH).Barclays Bank of Zimbabwe (BBZ) said completion of this transaction follows complianc...

By Staff reporter | Published: 15 October 2017

FINANCIAL SERVICES

Banks offload 2 000 workers

AT least 2 000 workers have lost their jobs in the banking sector over the past five years due to an escalating economic crisis underpinned by political turmoil, a trade union has said.More workers in...

By Staff reporter | Published: 05 October 2017

FINANCIAL SERVICES

Tetrad's judicial protection overturned by court

THE High Court has allowed a businessman owed more than $2 million by Tetrad Investment Bank (TIB) to institute legal proceedings to recover the debt, despite the financial institution being under jud...

By Staff reporter | Published: 05 October 2017

FINANCIAL SERVICES

Zim banks remodel operations

Finacial institutions are considering retraining their employees to ensure they fit into a new business model that is largely inclined to electronic banking. This comes as banks are increasingly movin...

By Staff reporter | Published: 05 October 2017

FINANCIAL SERVICES

Stanbic urges uptake of insurance products

STANBIC Bank has called for greater uptake of insurance products in the country.The financial institution has since ventured into the insurance business noting that only a handful of Zimbabweans posse...

By Staff reporter | Published: 04 October 2017

FINANCIAL SERVICES

Women's bank nears completion

The Minister of Women Affairs, Gender and Community Development, Nyasha Chikwinya says the much-awaited women's microfinance bank is now 85% complete.The first women's bank in the country set to provi...

By Staff reporter | Published: 03 October 2017

FINANCIAL SERVICES

Ecobank launches mVisa across African Countries

Ecobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers. The strategic tie-up signals interoperability on a cross-border level - and potentially huge gains -...

By APO | Published: 02 October 2017

FINANCIAL SERVICES

FMHL's RTG equity sale to boost its core assets

First Mutual Holdings Limited says the completion of the disposal of its 19,95 percent shareholding in Rainbow Tourism Group (RTG) to the National Social Security Authority (NSSA) will help the insura...

By Staff reporter | Published: 02 October 2017

FINANCIAL SERVICES

Stanbic warns of debit card fraudsters

STANBIC Bank has warned members of the public to guard against falling victim to debit card fraudsters.Acting head of personal and business Banking, Mr Patson Mahatchi said his bank has assumed respon...

By Staff reporter | Published: 29 September 2017

FINANCIAL SERVICES

ZSE mulls mobile share trading platform

THE Zimbabwe Stock Exchange plans to introduce a mobile share trading platform before the end of the year to allow potential and existing investors easy access to stock markets.As part of efforts to m...

By Staff reporter | Published: 28 September 2017

FINANCIAL SERVICES

Fidelity Life Assurance appoints substantive CEO

Diversified financial services group Fidelity Life Assurance of Zimbabwe has appointed Mr Rueben Java as its substantive chief executive effective October 1, 2017.Mr Java, who is also the current chai...

By Staff reporter | Published: 27 September 2017

FINANCIAL SERVICES

ZIPIT undergoes system upgrade

INTERBANK transaction processor, ZimSwitch, has allayed fears the Zimswitch Instant Payment Interchange Technology (ZIPIT) had been suspended or scrapped after the application went offline for the bet...

By Staff reporter | Published: 26 September 2017

FINANCIAL SERVICES

Zims banking system as a hindrance' to trade

Iranian MPs yesterday described Zimbabwe's banking system as a hindrance to business and trade between the two countries, as it had become a nightmare to transfer money across borders.MPs from the Ira...

By Staff reporter | Published: 21 September 2017

FINANCIAL SERVICES

Pensions sector boosts income

The pensions industry recorded total income of $112 million in the first quarter ended March this year attributable to contributions, rental and investment income, the sector regulator has said.The In...

By Staff reporter | Published: 20 September 2017

FINANCIAL SERVICES

ZB hails sanctions delisting

ZB FINANCIAL Holdings (ZB) has lauded the United States' decision to remove the institution from the sanctions list, saying the move re-opened avenues to work with other financial institutions across ...

By Staff reporter | Published: 20 September 2017

FINANCIAL SERVICES

Imara, Kura merge

Imara Asset Management Limited ('Imara') and Kura Capital Limited ('Kura') are merging to create a pan African fund manager with over USD200m of assets under management.Kura is a highly respected, awa...

By Agencies | Published: 15 September 2017

FINANCIAL SERVICES

CZI calls RBZ to release bond coins not notes

INDUSTRY lobby group, the Confederation of Zimbabwe Industries (CZI) has called on the Reserve Bank to release the additional $300 million, not in notes but in coins as a way of countering the black m...

By Staff reporter | Published: 15 September 2017

FINANCIAL SERVICES

Women's Empowerment Bank ready to roll

THE setting up of Women Empowerment Bank is at an advanced stage with the bank's chief executive officer already appointed to kick start the financial institution's operations before year-end.The bank...

By Staff reporter | Published: 15 September 2017

FINANCIAL SERVICES

Lending firms cry foul

ZIMBABWE'S micro finance institutions say they risk collapse due to the "unreasonable" interest rates imposed by the central bank. Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, last year ord...

By Staff reporter | Published: 14 September 2017

FINANCIAL SERVICES

BancABC's sweet $16m deal

BANCABC has set aside $16 million for the 2017 /2018 sugarcane production season in the Lowveld, as the financial services group consolidates its presence in this previously under-serviced but critica...

By Staff reporter | Published: 14 September 2017

FINANCIAL SERVICES

IPEC defends new requirements

The Insurance and Pensions Commission (IPEC) says it introduced a mandatory certificate of proficiency qualification for trustees of retirement funds to curb widespread mismanagement of the investment...

By Agencies | Published: 13 September 2017

FINANCIAL SERVICES

Whiteman supervision ends at Standard Bank

Standard Bank Group Ltd. appointed Sim Tshabalala as sole chief executive officer, ending a dual role he shared with Ben Kruger, and making him the first black person to lead Africa's largest lender i...

By Staff reporter | Published: 13 September 2017

FINANCIAL SERVICES

Kenyan firm to expand into Zimbabwe

Kenya's largest pension fund administrator Zamara is planning to expand into Africa, north of the Limpopo, over the next five years, using the East African country and Zimbabwe as focal points.In Zimb...

By Staff reporter | Published: 13 September 2017
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