Govt to force banks to list on the ZSE
2013 May 21 | 1695 Views
Government will enact laws requiring all banks to list on the Zimbabwe Stock Exchange to help them raise capital, Finance Minister Tendai Biti has said.Addressing journalists recently, Minister Biti said the proposed laws are meant to help prevent future bank failures in the country.Several banks ha...by New Ziana.
Gono draws attention to the inadvertent dangers of banks indigenisation
2013 May 18 | 2124 Views
Gideon Gono draws attention to the inadvertent dangers that could befall the economy if caution is thrown to the wind.President's adviceIT has been erroneously suggested in some publications this week that President Robert Mugabe has not given us direction on this important matter.During his 89th bi...by Gideon Gono
Forced indigenisation of banks is uninformed, says Gono
2013 May 10 | 2646 Views
Central Bank Governor Gideon Gono said plans to force foreign banks to sell majority stakes to black Zimbabweans are "uninformed.""The rush to indigenize the banking sector is more driven by emotions and uninformed perspective than necessity," Gono wrote in the Zimbabwe Independent today. "Internati...by Bloomberg
Banks adopt conservative lending as polls loom
2013 May 09 | 2150 Views
Local banks are expected to adopt a cautious lending approach due to the high levels of non-performing loans and uncertain economic environment as the country gears for elections later this year, a local research firm has said. In its full year 2012 (FY12) banking sector analysis, MMC Capital said d...by Business reporter
Banks ripping off customers
2013 April 05 | 2057 Views
AS the corporate reporting season for the financial year ended December 31 2012 draws to an end, the spotlight has been firmly focused on Zimbabwe's banks, with analysts saying the recently-published results by this key sector indicate it is largely on solid ground despite the country's economic cha...by Staff reporter
Banks cutting interest rates, says Gono
2013 March 30 | 2600 Views
Central Bank Governor Gideon Gono said some lenders are cutting interest rates and bank charges to comply with an agreement signed in January."It is heartening to note that some banks have already started to lower interest rates and bank charges," Gono said today at a meeting hosted by the Confedera...by Bloomberg
Gono has unleashed the Anti-Corruption body to scuttle indigenisation of banks
2013 March 18 | 3958 Views
If like most rational people you believe that everything happens for a reason, then you must be among the many who are wondering about the reasons behind the unprocedural, illegal and unlawful actions taken by the Zimbabwe Anti-Corruption Commission (ZACC) based on false allegations against the Nati...by Prof Jonathan Moyo
Biti threatens Zimbabwe banks over interest rates
2013 February 15 | 3172 Views
Government will codify into law the Memorandum of Understanding between the Reserve Bank of Zimbabwe and banks if the agreement is not fully implemented, Finance Minister Tendai Biti has said.The framework agreement on interest rates, bank charges and interest on prescribed amounts held in call acc...by Business reporter
Banks gang up against EcoCash
2013 February 04 | 9205 Views
LOCAL commercial banks have ganged up on EcoCash and other mobile money service providers by arm twisting the Reserve Bank of Zimbabwe (RBZ) to announce measures that compel telephone companies to conduct banking services through them.EcoCash, a mobile money service launched in late 2011 by the cou...by Staff reporter
14 banks have met first level of capital requirements
2013 February 01 | 2975 Views
The Reserve Bank of Zimbabwe governor Gideon Gono has said 14 out of 22 banks had met the first level of minimum requirements by December 31 last year. 5 other banks had made "significant" progress towards complying while 2 others needed to come up with more "credible" recapitalisation plans. Banks ...by Business reporter
Banks to reduce charges substantially
2013 February 01 | 2900 Views
BANK charges will soon be reduced substantially following negotiations between the banking sector and the Reserve Bank of Zimbabwe amid concerns that the current level of charges was against international banking practice.Reserve Bank Governor Dr Gideon Gono disclosed this while presenting his 2013...by Staff reporter
Kasukuwere says foreign banks free to leave
2013 January 25 | 3001 Views
Indigenisation and Empowerment minister Saviour Kasukuwere yesterday said foreign-owned banks were free to leave if they are not prepared to support the agricultural sector and emerging businesses in Zimbabwe. Addressing African editors who are in the country at the invitation of the Zimbabwe Nation...by Staff reporter
Econet lashes out at banks on mobile money
2013 January 11 | 5565 Views
ECONET Wireless Zimbabwe (Econet) has lashed out at banks for proposing amendments to government's banking reforms to include mobile money service providers, saying it was a selfish attempt by a clique of individuals to frustrate its operations.Econet owns EoCash, a mobile payments service.In his n...by Business reporter
Banks are ready to lower lending rates
2013 January 10 | 3426 Views
ZIMBABWEAN banks are prepared to lower lending rates and bank charges but are unlikely to meet recommendations by fiscal and monetary authorities. Banking sources said while no agreement had yetbeen reached between the authorities and the Bankers' Association of Zimbabwe, there was a "common u...by Staff Reporter
Banks first deadline lapses
2013 January 01 | 3467 Views
THE deadline for banks to raise $25 million of the new minimum capital requirements lapsed yesterday amid indications that a number of foreign and local banks had managed to raise the requisite funds.The deadline came amid reports that under-capitalised banks were finalising negotiations with partne...by Business reporter
News Updates
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UK terrorist proclaimed 'an eye for an eye' after attack
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