FINANCIAL SERVICES

Banks consider relaxing lending terms to women

Banks are focusing on increasing the uptake of financial products by women through reviewing lending terms and conditions for opening bank accounts.Information released at a women excel conference ind...

By Staff reporter | Published: 14 hours ago

FINANCIAL SERVICES

'Banks prioritising Harare firms on forex allocations'

A NUMBER of Bulawayo companies have not been allocated foreign currency for raw material imports since last year from their banks, as priority is being given to Harare-based companies, an industry off...

By Staff reporter | Published: 20 hours ago

FINANCIAL SERVICES

Health insurers lose $160 million to fraud

CIMAS CEO Vulindlela Ndlovu says the health insurance industry in Zimbabwe could be losing $160 million annually through fraud, errors and leakages.Ndlovu told journalists attending the Zimselector me...

By Staff reporter | Published: 20 May 2018

FINANCIAL SERVICES

Cell Insurance spreads wings

CELL Insurance Group is planning to open two additional health facilities before year-end as part of efforts to spread its reach across the country, The Financial Gazette has reported.Addressing deleg...

By Staff reporter | Published: 17 May 2018

FINANCIAL SERVICES

$28m in benefits lie unclaimed, says IPEC

THE Insurance and Pension Commission of Zimbabwe (Ipec) says pension funds have more than $28 million worth of unclaimed benefits, a symptom of lack of knowledge, which is one of the problems burdenin...

By Staff reporter | Published: 16 May 2018

FINANCIAL SERVICES

RBZ ban hits Golix

Harare digital money exchange Golix.com has suspended plans to raise $35,8 million through an Initial Coin Offering (ICO) until further notice, after the Reserve Bank of Zimbabwe (RBZ) effectively shu...

By Staff reporter | Published: 15 May 2018

FINANCIAL SERVICES

Zimbabwe banks to revive long term loans

Zimbabwe's financial sector will soon revive long-term loans for the industry as the central bank is finalising affordable offshore credit line facilities with regional and global banks.  &n...

By Staff reporter | Published: 14 May 2018

FINANCIAL SERVICES

NMB secures forex clearing agent

NMB Bank says it has secured a corresponded agent for United States dollars and Euro clearing with a German bank to facilitate international transactions.The bank said in a notice that it has partnere...

By Staff reporter | Published: 13 May 2018

FINANCIAL SERVICES

Zim banks banned from trading in crypto currency

The Reserve Bank of Zimbabwe has, in the interest of public trust in the financial system, banned local banks from trading in crypto currency.The central bank issued local banks with a 60 days ultimat...

By Staff reporter | Published: 12 May 2018

FINANCIAL SERVICES

Zimpost scoops gold award at ZITF 2018

The newly branded Zimpost scooped a gold medal at the just ended Zimbabwe International Trade Fair held from April 23 to 28 2018 in Bulawayo. Zimpost came first in the Best Exhibit: Packaging, Plastic...

By Staff reporter | Published: 11 May 2018

FINANCIAL SERVICES

New rules to shake up insurance sector

Players in the local insurance industry will in three years' time be required to adopt a new version of the International Financial Reporting Standard 17 issued by the IASB. The new rules are expected...

By Staff reporter | Published: 11 May 2018

FINANCIAL SERVICES

Mswaka named Stockbrokers Association chair

VETERAN stockbroker, Bartholomew 'Bart' Mswaka, has been announced as the Stockbrokers Association of Zimbabwe's new chairperson.Mswaka takes over from FBC Stockbroking managing director Ben Gasura.Ba...

By Ngoni Shenjere | Published: 10 May 2018

FINANCIAL SERVICES

New accounting rules set to shake up banking sector

NEW accounting rules introduced in January this year to force banks to estimate future credit losses are likely to have a significant impact on the country's financial institutions, accountants have n...

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Banks collateral overrated, says Mukupe

LOCAL banks have been urged to remove collateral as a condition for extending lines of credit to entrepreneurs.Finance and Economic Development deputy minister Terrence Mukupe called on banks to be ac...

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Ecobank cost to income ratio lowest

ECOBANK Zimbabwe recorded the lowest cost to income ratio among the banks that announced financial results for the year to December 31, 2017, an analysis by Old Mutual Securities (OMSEC) has revealed....

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Zimbabwe lending rates too high

ZIMBABWE's high cost of borrowing, which is much higher than in regional economies, is rendering the country's products uncompetitive, a Zimbabwe Economic Policy Analysis and Research Unit (ZEPARU) re...

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Bankers elect new president, deputy

THE Bankers Association of Zimbabwe (BAZ) has elected FBC Bank managing director, Mr Webster Rusere, as its president taking over from Dr Charity Jinya. He would lead the organisation for two years an...

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Zimswitch eyes new platform for bulk payments

ZIMSWITCH is in final stages to introduce an electronic transacting system for bulk payments to relieve pressure on the Real Time Gross Settlement (RTGS) system.Zimswitch deputy general manager Zabron...

By Staff reporter | Published: 08 May 2018

FINANCIAL SERVICES

Banks urged to offer affordable financial services

BANKS have been urged to capitalise on technological developments, share information and offer affordable financial services to consumers to promote financial inclusion.The call was made by Reserve Ba...

By Staff reporter | Published: 08 May 2018

FINANCIAL SERVICES

Barclays' loan book improves

BARCLAYS Bank of Zimbabwe says its non-performing loans stood at 2,2% at the end of 2017, a reflection of a quality loan book, the bank's head of customer service and corporate affairs, Emily Nemapare...

By Staff reporter | Published: 08 May 2018

FINANCIAL SERVICES

ZHL bounces back to profitability

ZIMRE Holdings Limited (ZHL) has overturned its loss-making position by $4,36 million for the financial year ending December 31, 2017 on the back of cost reduction and an improvement in incomes from i...

By Staff reporter | Published: 08 May 2018

FINANCIAL SERVICES

Fidelity posts $1,3m loss on asset write-offs

Zimbabwe Stock Exchange-listed Fidelity Life Assurance tumbled to a loss of $1,3 million in 2017 against the restated profit of $6,4 million in the prior year attributed to shareholder asset write-off...

By Staff reporter | Published: 07 May 2018

FINANCIAL SERVICES

CBZ embraces digital banking

CBZ Bank has joined its peers in discarding manual or paper transactions and adopting digital transacting.The bank has given its customers up to May 31 to register with its digital platforms — "CBZ ...

By Staff reporter | Published: 07 May 2018

FINANCIAL SERVICES

Accountants issue TBs warning

Chartered Accountants have warned of the need to put parameters guarding against Treasury Bills (TBs) losing their intrinsic value.TBs are used by government when borrowing from the domestic market to...

By Staff reporter | Published: 04 May 2018

FINANCIAL SERVICES

Stanbic Zim unveils special financing for exporters

Stanbic Bank Zimbabwe (Stanbic) on Monday unveiled a special facility under which it will provide financing to struggling companies involved in the export business to meet their capital needs.Under th...

By Staff reporter | Published: 02 May 2018
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