BUSINESS NEWS

RBZ turns screws on banks

THE Reserve Bank of Zimbabwe (RBZ) has castigated banks for keeping huge sums of money with the central bank instead of lending it to the productive sector.Responding to questions from delegates atten...

By Staff reporter | Published: 09 July 2018

FINANCIAL SERVICES

Banks to prioritise importers over depositors

BANKERS Association of Zimbabwe (BAZ) vice-president Benefit Washaya says banks were still to decide whether they should continue importing cash to distribute to the depositors considering that the mo...

By Staff reporter | Published: 05 July 2018

BUSINESS NEWS

RBZ stops issuing $ to banks

THE Reserve Bank of Zimbabwe has temporarily stopped giving US dollars to banks for withdrawal by individuals, as the latter are said to be at the centre of black market currency dealings.The central ...

By Staff reporter | Published: 01 July 2018

FINANCIAL SERVICES

'Banks to lead economic recovery'

Government is working with the Reserve Bank of Zimbabwe (RBZ) and other relevant bodies to ensure the country's banking sector is in a position to play key intermediary roles in the recovery of the ec...

By Staff reporter | Published: 26 June 2018

BUSINESS NEWS

Lawsuits for failed banks executives

THE Deposit Protection Corporation (DPC) has sued directors of four failed banks for lack of corporate governance and abuse of depositors' funds.Last year, the deposit protection entity said that it h...

By Staff reporter | Published: 25 June 2018

INDUSTRIALS & ENERGY

PPC banks on Zimbabwe polls

SOUTH African cement producer PPC says Zimbabwe's political landscape has improved with the cement maker eyeing positive growth after the July 30 general elections.This week PPC group chief financial ...

By Staff reporter | Published: 22 June 2018

FINANCIAL SERVICES

Banks set to cut transaction costs

The cost of mobile and internet-based financial services is set for a significant drop after Government directed that the charge for Unstructured Supplementary Service Data (USSD), the technology plat...

By Staff reporter | Published: 21 June 2018

BUSINESS NEWS

RBZ must 'delegate forex allocation to banks'

THE Reserve Bank of Zimbabwe should abandon its foreign currency allocation framework and delegate the role to individual banks as this gives the impression of a distorted economy, the Zimbabwe Nation...

By Staff reporter | Published: 19 June 2018

TRANSPORT & TOURISM

RTG banks on elections

THE Rainbow Tourism Group (RTG) is banking on next month's general elections to boost its revenues further after posting a 16% increase in revenue to $11,1 million in the first five months of the year...

By Staff reporter | Published: 15 June 2018

FINANCIAL SERVICES

Zim banks' difficulties in sourcing credit lines

Zimbabwean banks - which include units of Standard Bank, Nedbank and Standard Chartered - are facing challenges in sourcing lines of credit, and this has seen their foreign liabilities declining, poin...

By Staff reporter | Published: 12 June 2018

BUSINESS NEWS

Tongaat banks on new political climate

SOUTH African sugar producer Tongaat Hulett is planning to ramp up production in Zimbabwe due to an anticipated economic recovery ushered in by the new political environment.The Johannesburg Stock Exc...

By Staff reporter | Published: 07 June 2018

BUSINESS NEWS

Troubled Zimbabwe banks seeks respite

ROYAL Bank Zimbabwe Limited, which has been placed under liquidation, has indicated that it will lodge an application with the High Court for the extension of time for its liquidation.A notice release...

By Staff reporter | Published: 07 June 2018

BUSINESS NEWS

Mash Holdings reviews land banks

Listed property development firm, Mash Holdings says it is reviewing its land banks as a way of unlocking value for shareholders. The group's chairperson, Ron Mutandagayi said the company will maintai...

By Staff reporter | Published: 04 June 2018

FINANCIAL SERVICES

'Zimbabwe banks ripping-off clients'

Employees in the financial and banking sector under the Zimbabwe Banks and Allied Workers Union (Zibawu) have accused banks of ripping-off clients while paying them slave wages.The workers, in a lett...

By Staff reporter | Published: 04 June 2018

FINANCIAL SERVICES

'Banks need mindset change' - Homelink

ZIMBABWE's banking sector needs a mind-set change in its business modelling to ensure provision of funding facilities that support business growth and complement the country's economic development goa...

By Staff reporter | Published: 30 May 2018

BUSINESS NEWS

Banks move to curb card fraud

SOME local banks have partnered with international experts to curb bank card fraud which police say is on the increase in the country. The institutions have singled out supermarket employees as the bi...

By Staff reporter | Published: 28 May 2018

BUSINESS NEWS

Zimbabwe banks go paperless

Like ducks to water, Zimbabwean retail banks are embracing technology to the point of doing away with paper transactions in their banking halls.This week, CABS became the latest institution to ditch p...

By Staff reporter | Published: 25 May 2018

BUSINESS NEWS

Zim moves to establish correspondent banks

FINANCE minister Patrick Chinamasa says the country is making frantic efforts to re-establish international correspondent banks through the enactment of morden financial laws that are aligned to lates...

By Staff reporter | Published: 24 May 2018

FINANCIAL SERVICES

Banks discontinue manual RTGS payments

A NUMBER of financial institutions in Zimbabwe have discontinued manual real-time gross settlement (RTGS) payments, as they go paperless, banking on increasing their efficiencies.Some of these banks i...

By Staff reporter | Published: 22 May 2018

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: 21 May 2018

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: 21 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

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

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

MINING & RETAIL

Lafarge banks on affordable housing

LAFARGE Cement Zimbabwe is prospecting for affordable housing projects in and around Harare after it delivered 85 housing units in the capital.The company's communications manager, Tsungie Manyeza tol...

By Staff reporter | Published: 09 May 2018
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