Business / Companies
European investors target AfrAsia Bank
12 Aug 2015 at 07:13hrs | Views
European investors are set to acquire a majority stake in MicroKing a subsidiary of AfrAsia Banking Zimbabwe Limited (ABZL).
The consortium of European investors, Microcred and AfricInvest, will invest $25 million in the microfinance unit, Reserve Bank governor John Mangudya said.
"We are concerned about the depositors' funds and the resuscitation of the bank," he said.
Mangudya said the proposed investment in the microfinance unit will contribute to financial inclusion.
Source - newsday
