FINANCIAL SERVICES

Zimbabwe banks reject EU financial bailout

Zimbabwean banks have since last year been rejecting access to credit facilities from European banks for on-lending to productive sectors, citing the possibility of failure to repay the loans because ...

By Staff reporter | Published: 19 January 2018

FINANCIAL SERVICES

'Banks have right to refuse opening accounts'

FINANCE deputy minister Terrence Mukupe has said banks have the right to refuse opening accounts for new clients as they are private enterprises.Responding to MDC-T legislator Bacilli Majaya in the Na...

By Staff reporter | Published: 12 January 2018

BUSINESS NEWS

Blackout hit Zimbabwe banks hard

THE banking sector lost an estimated $70 million after many internet-dependent transactions could not be processed because of the recent data blackout which lasted six hours.On December 5, Zimbabwe ex...

By Staff reporter | Published: 17 December 2017

BUSINESS NEWS

Banks accept 99-year leases

The Bankers' Association of Zimbabwe (BAZ) said on Friday it will now accept 99-year leases that were given to resettled farmers by Government as collateral for bank loans.Since Zimbabwe embarked on t...

By Staff reporter | Published: 12 December 2017

BUSINESS NEWS

Banks in 99-year leases U-turn

Banks are waiting for the government to start rolling out the 99-year leases to farmers so that they can start accessing loans backed by the instrument, an official has said.A 99-year lease is a legal...

By The Source | Published: 10 December 2017

FINANCIAL SERVICES

US dollars return to Zim banks and ATMs

Information that is circulating online is indicating that the US dollar has made its way back to the economy, TechZim reported.For some who are out of the country this may seem to be silly news, but f...

By Staff reporter | Published: 30 November 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

CONSTRUCTION & PROPERTY

Lafarge banks on highway upgrade

LAFARGE Cement Zimbabwe, a member of the Swiss-headquartered LafargeHolcim, last week reported declines in volumes and turnover for the half year ended June 30, 2017 but hopes major public infrastruct...

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

BUSINESS NEWS

NSSA strikes deal with local banks

The National Social Security Authority has reached an agreement with at least 12 banks which will see pensioners aged above 60 years being exempted from paying transaction charges.NSSA has previously ...

By Staff reporter | Published: 04 October 2017

BUSINESS NEWS

'Banks pumping cash into black market'

Banks have been fuelling the currency black market in Zimbabwe by moving bond notes onto the streets in search of the now elusive US dollar, economic experts, monetary and fiscal authorities have conf...

By Staff reporter | Published: 29 September 2017

BUSINESS NEWS

Harare City Council, banks in housing deal

Harare City Council has partnered two local banks to develop residential stands for low-income earners around the city with an initial project targeting more than 1 200 stands.The city entered into a ...

By Staff reporter | Published: 04 September 2017

FINANCIAL SERVICES

Zim banks go paperless

Zimbabwean banks are phasing out paper-based Real Time Gross Settlement (RTGS) transactions, with Standard Chartered (Stanchart) being the latest in announcing the move.This comes as banks have record...

By Staff reporter | Published: 03 September 2017

FINANCIAL SERVICES

Errant banks divert forex allocations

Some errant banks could be diverting to other uses, foreign currency allocated to companies by the Reserve Bank of Zimbabwe (RBZ) towards procurement of critical imports, Confederation of Zimbabwe Ind...

By Staff reporter | Published: 30 August 2017

AFRICA BUSINESS

SA banks sued for R60bn in home repossession case

More than 225 applicants, mostly from Gauteng townships, have launched a suit in the Constitutional Court, claiming damages from the big banks for home repossession abuse.The applicants are claiming R...

By Staff reporter | Published: 16 August 2017

FINANCIAL SERVICES

Zim banks face confidence crisis

MINISTER of Information, Communication and Technology and Courier Services, Supa Mandiwanzira, says Zimbabweans have lost trust in banks because of bank failures and cash shortages in the economy.Spea...

By Staff reporter | Published: 10 August 2017

FINANCIAL SERVICES

WannaCry virus hit Zimbabwe banks

The government says it has identified two banks which were among several institutions affected by the WannaCry virus global attack from May 12 to 15 that affected a cross section of institutions.Speak...

By Staff reporter | Published: 04 August 2017

FINANCIAL SERVICES

Banks record $100m profit

Zimbabwean banks have made $100,59 million profit in the half year to June 30, 2017, representing an increase of 47,99 percent from $67,97 million reported in the corresponding period last year, the c...

By Staff reporter | Published: 03 August 2017

FINANCIAL SERVICES

DPC sues failed banks' executives

THE Deposit Protection Corporation (DPC) has started taking legal action against shareholders and directors of banks whose institutions failed due to poor corporate governance.DPC chief executive offi...

By Staff reporter | Published: 02 August 2017

FINANCIAL SERVICES

Banks freeze out ailing companies

THE Directors Protection Council of Zimbabwe (DPCZ) is fighting to save Bulawayo companies sinking in bank debts pleading with financial institutions to transfer their non-performing loans (NPLs) amou...

By Staff reporter | Published: 30 July 2017

FINANCIAL SERVICES

RBZ tightens screws on banks

The Reserve Bank of Zimbabwe (RBZ) is considering tightening screws on the banking sector by planning to make public bank ratings which show the health of banks to protect depositors, a senior central...

By Staff reporter | Published: 28 July 2017

FINANCIAL SERVICES

Banks disbursing funds for retooling of companies

THE Reserve Bank of Zimbabwe (RBZ) and a number of financial institutions have started disbursing funds for the recapitalisation of companies whose products were placed on import restriction under th...

By Staff reporter | Published: 23 July 2017

FINANCIAL SERVICES

Treasury Bills outstrip banks' equity

THE value of Treasury Bills (TBs) has outstripped bank equity capital by 1,7 times, a new report indicated this week, raising questions over the financial sector's ability to continue absorbing the pa...

By Staff reporter | Published: 20 July 2017

INDUSTRIALS & ENERGY

'Banks propel importation of finished products'

ZIMBABWEAN banks have been accused of allocating foreign currency for the importation of finished garments instead of raw materials, thereby pushing local clothing manufacturers further towards the ed...

By Staff reporter | Published: 18 July 2017

FINANCIAL SERVICES

Zimbabwe faces financial meltdown

GOVERNMENT is facing a fiscal meltdown triggered by excessive borrowing that has crowded out private sector lending, while destabilising the banking sector at the same time, it has been established.Zi...

By Staff reporter | Published: 14 July 2017
Pages:
1
2
3
4
5
6

Latest News

Latest Published Reports

Latest jobs