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Kereke wins legal battle
Former Zanu PF legislator Munyaradzi Kereke has won a legal battle against the Harare Municipal Medical Aid Society (HMMAS), which had sought a refund of US$138,000 over a failed bid to purchase Fortr...Published: 14 May 2025 at 08:48hrs | 997 | by Staff reporter
Zimbabwe's Banking Sector and No Arrests Years Down the Line
United Merchant Bank (UMB) - Closed in 1998 due to insider loans and mismanagement.Universal Merchant Bank (UMB) - Closed in 2003 struggled with negative perceptions after UMB's collapse....Published: 05 Dec 2024 at 20:15hrs | 306 | by Engineer Jacob Kudzayi Mutisi
Zimbabwe's errant bankers must be punished
Vocal Harare political activist and business advocate, Engineer Jacob Mutisi, has called for stringent accountability for bankers and financial institutions involved in the mismanagement and fraudulen...Published: 05 Dec 2024 at 09:19hrs | 1415 | by Staff reporter
Zimbabwe's banking sector and no arrests years down the line
United Merchant Bank (UMB) - Closed in 1998 due to insider loans and mismanagement.Universal Merchant Bank (UMB) - Closed in 2003 struggled with negative perceptions after UMB's collapse....Published: 05 Dec 2024 at 09:07hrs | 618 | by Eng. Jacob Kudzayi Mutisi
Failed banks creditors in fix
Creditors of six failed banks that are under final liquidation remain in a fix as the banks' liabilities far outweigh their cumulative assets, figures show. Latest figures from the Deposit Pro...Published: 25 Jul 2019 at 07:45hrs | 1 | by Staff reporter
Closed banks: Depositors to be compensated in Zimdollars
GOVERNMENT has instructed its insurer to compensate holders of nostro accounts in closed banks in either US dollars or the equivalent in local currency, it was revealed.Currently, the Deposit ...Published: 24 Jul 2019 at 08:20hrs | 3 | by Staff reporter
James Makamba's multi-million SA home to be auctioned over debt
The luxury multi-million rand Johannesburg mansion of top Zimbabwean businessman James Makamba is to go under the hammer at the end of the month following an order of the court.Makamba, who is...Published: 07 Nov 2018 at 10:51hrs | | by Staff reporter
BCC recovers only $32 000 of the $1 million from Metbank
THE Bulawayo City Council (BCC) has recovered from the Metbank $32 512 of the $1 million it lost after the financial institutions went under a few years ago.The local authority's finance depar...Published: 10 Jul 2018 at 07:26hrs | 11 | by Staff reporter
South Africa is the 33rd wealthiest country in the world
As part of the AfrAsia Bank South Africa Wealth Report 2018 we looked at where South Africa stands in the global wealth picture.According to the report, SA ranks 33rd worldwide in terms of tot...Published: 24 Apr 2018 at 16:01hrs | 1 | by Agencies
Failed banks haunt directors
THE Deposit Protection Corporation says there are sufficient legal instruments to facilitate successful prosecution of directors of failed banks for their roles in causing collapse of the institutions...Published: 19 Nov 2017 at 08:37hrs | | by Staff reporter
South Africa is making a 'historic mistake'
Proponents of the mantra of "radical economic empowerment" have found a new argument to the question whether it would destroy the South African economy as has happened in Venezuela and Zimbabwe: black...Published: 18 Oct 2017 at 18:01hrs | 20 | by Max Du Preez
'I'm bitter, paraded $1.5 m dishonour cheque,' says Mugabe - perish thought, what about $15b
In 2012, the late Edward Chindori-Chininga said in parliamentary report that no one, no one in the companies doing mining, the local partner (whoever it happened to be) or anyone in position of author...Published: 20 Jun 2017 at 09:48hrs | 3 | by Patrick Guramatunhu
Mujuru, contesting yet another flawed election is not new or 'strategic' - it is the crass of stupidity
"You can lead a horse to the river but you cannot make it drive." So, goes the common proverb. People are like an animal, you can present them with a golden opportunity, but you cannot force the indiv...Published: 13 Jun 2017 at 08:28hrs | | by Wilbert Mukori
Professor Moyo top on agenda is reform, reform not 'liberation struggle'
AfrAsia Bank has just declared that Zimbabweans are today the poorest people in Africa and where there is poverty, hunger, disease and death are there too! The country is tittering on the edge of the ...Published: 09 Jun 2017 at 23:21hrs | | by Nomusa Garikai
Zanu PF is rigging elections already with Moyo's 'connectedness' - MDC must be forced to see it
Zanu PF is already busy rigging the elections, there is no chance of opposition dislodging them from power. The only reason Morgan Tsvangirai and his MDC friends will not give up the claim of winning ...Published: 07 Jun 2017 at 23:24hrs | | by Nomusa Garikai
Catholic Bishops call for 'peaceful' elections - wilfully inadequate to stop Mugabe rigging
Zimbabweans are the poorest in Africa said a recent AfrAsia Bank report.When the country gained her independence 37 years ago, Zimbabweans were amongst the richest in the world with potential ...Published: 06 Jun 2017 at 06:58hrs | | by Wilbert Mukori
'Zanu PF cannot be dislodge,' admit insane Biti, in a fleet moment of sanity
"Even on a day turned night by the black clouds, the sun will sometimes break through or be it for a fleeting moment!" my late mother, full of proverbs, would say. "You must always listen careful to e...Published: 19 May 2017 at 15:56hrs | 1 | by Patrick Guramatunhu
Ask what you can do for your country - 'I'm not a politician,' cop-out Mtukudzi
Zimbabwe's economic situation has reached the point where millions are suffered in dumb anguish and hundreds are dying every month unnecessarily for no other reason other than that they are poor. The ...Published: 19 May 2017 at 07:29hrs | 2 | by Wilbert Mukori
'Mugabe won 2013 with tangible deliveries,' says UK Book - where is he hiding them
In Zimbabwe the ordinary people, especially in rural areas with no access to internet, outside radio and newspapers, are starved of useful and quality information. The regime has stifled all meaningfu...Published: 15 May 2017 at 22:15hrs | 4 | by Wilbert Mukori
We cannot 'compete against mafia', complain MDC - no one by greed compel them to
"At a time that long-suffering Zimbabweans are struggling to make ends meet, President Robert Mugabe's ruling Zanu PF is splurging up to $60 million on a new fleet of cars, trucks and buses, ahead of ...Published: 15 May 2017 at 07:36hrs | 2 | by Wilbert Mukori
MDC-T fails to pay its workers
The MDC-T leadership has admitted that it is failing to pay about 110 employees after foreign donors dumped the party, which is now looking up to Government for salvation.The party, which clai...Published: 15 May 2017 at 06:47hrs | 1 | by Staff reporter
Dr Nkosana Moyo contesting flawed 2018 is adding spoon of sewage to glass of milk = glass of sewage
"You will not be awarded any marks for answering the question YOU wanted asked!" my High School teacher used to warn us at the beginning of each examination. Today, Zimbabweans we are ...Published: 12 May 2017 at 18:55hrs | | by Nomusa Garikai
'To save Zimbabwe, do something'
President Mugabe laughed at the suggestion that Zimbabwe is a fragile state. The question was put to him on Thursday at the World Economic Forum on Africa held in Durban.'That isn't true', he ...Published: 09 May 2017 at 10:05hrs | 1 | by ZimVigil
Zimbabwe not poor, not by a long shot
In 2013, a research website by the name New World Wealth published a "survey" report which bogusly claimed that Zimbabwe was the poorest country in Africa because of its "controversial indigenisation ...Published: 04 May 2017 at 06:37hrs | | by Bernard Bwoni
Dokora's Muslim syllabus
The diaspora was surprised to learn from the Primary and Secondary Education Minister, Lazarus Dokora, that Islam was Zimbabwe's biggest religion in 1980 and was the country's 'designated' indigen...Published: 10 Apr 2017 at 11:34hrs | 2 | by Zimvigil
Zimbabweans ranked among Africa's poorest citizens
Zimbabweans have been ranked among Africa's poorest citizens, with an average wealth of $200 per person, a survey by AfrAsia Bank (AfrAsia) has revealed.According to the study - Africa Wea...Published: 04 Apr 2017 at 12:21hrs | | by Staff reporter
Tsvangirai's MDC-T fails to pay employees
More than 62 MDC-T workers on Wednesday held a demonstration at the opposition party's headquarters in Harare after going for more than 17 months without salaries.The Herald has it on good...Published: 31 Mar 2017 at 06:19hrs | 3 | by Staff reporter
Mugabe ally loses home over debt
AN up market property belonging to Zanu-PF Harare East legislator, Terrence Mukupe will be auctioned by the Deputy Sheriff today to recover debts owed to FBC Bank.According to a Government...Published: 06 Oct 2016 at 07:56hrs | | by Staff reporter
MDC-T sell cars to bail out Tsvangirai
MDC-T has sacrificed three vehicles to save party leader Mr Morgan Tsvangirai's house in Strathaven, Harare, from being auctioned over $55 000 owed to a local bank.The broke politician had his...Published: 08 Sep 2016 at 06:38hrs | 1 | by Court Reporter
Account holders with closed banks to be paid by April
THE Deposit Protection Corporation (DPC) and the Reserve Bank of Zimbabwe (RBZ) have finished compiling the list of Zimbabwe dollar account holders whose money was locked in banks that were closed aft...Published: 07 Feb 2016 at 08:13hrs | 1 | by Roberta Katunga
Chief impersonator swindles home-seekers
A Harare man, Tonderai Chitsinde allegedly masqueraded as Mashonaland Central traditional leader, Chief Negomo, born Luscious Chitsinde and swindled home seekers and a bank after promising to offer th...Published: 22 Jan 2016 at 05:15hrs | 1 | by Tendai Rupapa
South African lender Nedbank expands its footprint in Zimbabwe
South African lender Nedbank is expanding its footprint in Zimbabwe, despite the economic turbulence, which the company is sizing up to determine if it can avail more funding facilities for on-lending...Published: 11 Nov 2015 at 21:29hrs | 1 | by Tawanda Karombo
Deposit Protection Corporation pays out $2.6 million
The Deposit Protection Corporation (DPC) has so far paid out $2,6 million to 9 495 depositors of six banks that were closed since 2012 and says it is lobbying for a separate insolvency regime or a...Published: 17 Aug 2015 at 08:27hrs | | by Staff reporter
European investors target AfrAsia Bank
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...Published: 12 Aug 2015 at 07:13hrs | | by Staff reporter
Open letter to Tsvangirai
Dear Morgan, I thought I should write to you this short memo, advising you on some of the aspects and characteristics that you, as a leader of a political party is expected to do. Without ...Published: 04 Jun 2015 at 08:20hrs | 1 | by Peacemaker Zano
Tsvangirai defaults on $60k bank loan, issued summons
Zimbabwe's former Prime Minister and opposition leader Morgan Tsvangirai is currently locked in a legal battle with a local financial institution over a $60 000 loan.AfrAsia Bank recently issu...Published: 30 May 2015 at 17:18hrs | | by Staff reporter
Kingdom Bank Africa under final liquidation
The High Court has appointed Max Marinelli and Chris Bray, both chartered accountants in Gaborone to oversee the liquidation of Kingdom Bank Africa. Nigel Chanakira remained invested in KB...Published: 20 May 2015 at 07:20hrs | | by Staff reporter
UK's $800k trapped in collapsed Zimbabwe bank
The United Kingdom (UK) Department for International Development (DFID)'s $800 000 has been trapped in AfrAsia Zimbabwe Holdings Limited (AZHL)'s lending unit, Microking, following collapse of the fin...Published: 07 Mar 2015 at 15:09hrs | 1 | by Staff reporter
Workers' wages locked up in defunct bank
It never rains for employees of AfrAsia Bank Zimbabwe Ltd, which was closed on Tuesday last week, as it emerged this week that a significant chunk of their January and February salaries are locked...Published: 06 Mar 2015 at 08:33hrs | | by Staff reporter
Chanakira mourns AfrAsia collapse
KINGDOM Bank founder Nigel Chanakira says the collapse of AfrAsia Bank - an institution he moulded to iconic status - is a sad development in the history of the financial service institutions in Zimba...Published: 27 Feb 2015 at 10:35hrs | 1 | by Charity Ruzvidzo
Mugabe destined to leave Zimbabwe without currency
PRESIDENT Robert Mugabe (91 next week) appears destined to leave the country whenever he would go without its own local currency amid clear indications by the Reserve Bank of Zimbabwe (RBZ) governor ...Published: 13 Feb 2015 at 14:47hrs | 2 | by Kudzai Kuwaza
Another bank faces collapse
TETRAD Investment Bank has been placed under judicial management after the financial institution fell short of funds to run its daily operations.The bank is part of Tetrad Holdings group compr...Published: 03 Feb 2015 at 06:56hrs | 1 | by Staff reporter
AfrAsia excludes Zim unit from the group's consolidated accounts
Mauritius based AfrAsia Bank Limited (AfrAsia) has decided to exclude its trouble Zimbabwean unit AfrAsia Zimbabwe Holdings Limited (AZHL) from the group's consolidated accounts in a move it said...Published: 08 Jan 2015 at 06:40hrs | | by Staff reporter
Kingdom bank crisis continues as people spend nights for $50
SCORES of people have set up camp at AfrAsia Bank (formerly Kingdom), where they are spending nights in queues hoping they could withdraw as little as $50 the following day, in scenes reminiscent ...Published: 20 Oct 2014 at 06:38hrs | | by Business reporter
Teachers abandon classes to queue for cash
THE cash crisis continues unabated at the troubled AfrAsia Bank, forcing teachers who have accounts with the bank in the Matabeleland region to abandon classes for days while trying to get their pay f...Published: 19 Oct 2014 at 14:25hrs | 1 | by Staff reporter
AfrAsia bosses hint at $10million cash injection to ease woes
AfrAsia bosses were in Zimbabwe last week and indicated that a US$10 million cash injection will be made into the lender in the short term to try and ease the problems faced by the Mauritian-based par...Published: 19 Oct 2014 at 10:22hrs | | by Staff Reporter
AfrAsia boss visits Zimbabwe
AfrAsia Bank Mauritius CE James Benoit was recently in Zimbabwe to firm up discussions on the hunt for a new managing director for AfrAsia Bank Zimbabwe and strategies to solve the banking unit's...Published: 16 Oct 2014 at 07:00hrs | | by Staff reporter
AfrAsia Bank slapped with $200 000 lawsuit
CHRIS-DAVID Marketing, a Bulawayo-based company is suing Microking Finance (Pvt) Ltd, a subsidiary of AfrAsia Bank Zimbabwe Limited (formerly Kingdom Bank).Chris-David Marketing filed a lawsui...Published: 12 Oct 2014 at 09:07hrs | | by Staff Reporter
Irate depositors besiege AfrAsia Bank Bulawayo branch - Video
There were bouts of violence at the embattled AfrAsia Bank Limited, formerly Kingdom Bank in Bulawayo as angry depositors stormed the banking hall demanding their cash.AfrAsia, which reb...Published: 09 Oct 2014 at 15:47hrs | | by Makhosi Sibanda
AfrAsia finally pays Chanakira
Mauritian group, AfrAsia Holdings Limited has finally paid for Nigel Chanakira's 30 percent stake in financial services group, AfrAsia Zimbabwe Limited.Chanakira was paid about $2.5 millio...Published: 09 Oct 2014 at 08:11hrs | | by Staff reporter
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