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Zimbabwean banks overcharging clients

Multiple Zimbabwean banks are under scrutiny following explosive allegations that they systematically overcharged corporate clients millions of dollars through

Published: 25 Oct 2025 at 07:41hrs | | by Staff reporter

Infant dumped in bin at bank entrance

The Mutare community has been left in shock after the body of an infant was discovered dumped in a refuse bin outside First Capital Bank in the central business district.A passer-by made the grim discovery at around 5pm on Saturday and imm…

Published: 09 Sep 2025 at 19:50hrs | 102 | by Staff reporter

Pastors4ED question disbursement of Presidential fund method

Tension briefly flared at the Masvingo Agricultural Showgrounds when members of Pastors4ED voiced frustration over the method of receiving their share of the Presidential Empowerment Revolving Fund.The controversy arose after Pastors4ED me…

Published: 19 Aug 2025 at 19:09hrs | 396 | by Staff reporter

Ex-bank consultant jailed for US$23,000 fraud

A former ZB Bank loan consultant, Cosmas Bhude, has been sentenced to an effective three years and nine months in prison for defrauding clients of more than US$23,000 through a series of fraudulent loan transactions.The 41-year-old appeare…

Published: 16 Aug 2025 at 13:25hrs | | by Staff reporter

Zimbabwe banking sector profits drop

Zimbabwe's banking sector has reported a steep drop in earnings for the first half of 2025, with aggregate profits plunging to ZiG5,0 billion (US$184,07 million) from ZiG10,4 billion (US$760,37 million) in the same period last year, accord…

Published: 08 Aug 2025 at 08:30hrs | | by Staff reporter

ZB faces shareholder revolt

ZB Financial Holdings (ZBFH) is once again embroiled in a shareholder dispute, as long-simmering tensions with prominent investor Nicholas Vingirai flare up over allegations of flawed audit procedures and unfulfilled legacy agreements.Ving…

Published: 25 Jul 2025 at 14:09hrs | | by Staff reporter

Zimbabwe police arrest third suspect in $4 million Bulawayo bank robbery

Police have announced the arrest of a third suspect linked to the high-profile $4 million bank robbery that took place in Bulawayo last October, marking a significant breakthrough in the investigation.The suspect, 39-year-old Bhekani Mlilo…

Published: 18 Jul 2025 at 21:09hrs | 1721 | by Staff reporter

Zimbabwe central bank reports drop in inflation

The Reserve Bank of Zimbabwe (RBZ) has expressed cautious optimism about the country's economic trajectory, citing encouraging signs in inflation control, exchange rate stability, and foreign currency inflows. The outlook was contained in …

Published: 10 Jul 2025 at 10:11hrs | 181 | by Staff reporter

Zimbabwe women's bank opens 11 000 accounts in 2024

The Zimbabwe Women Microfinance Bank (ZWMB) opened 11,120 new savings accounts in 2024 as part of the Government's ongoing push to promote financial inclusion and empower marginalized groups - particularly women and youth - across the coun…

Published: 08 Jul 2025 at 09:52hrs | 3 | by Staff reporter

Bail ruling set for Ecobank fraud suspects

Three men accused of defrauding Ecobank of US$73,000 through a company called Jerrypat Electricals (Pvt) Ltd are set to appear in court tomorrow for a bail ruling.The accused, Nigel Gwanzura, Mluleki Dube (48), and Rasheed Mkwala (26), app…

Published: 03 Jul 2025 at 09:25hrs | 723 | by Staff reporter

ZBFH to surrender building society licence by year-end

Financial services group ZB Financial Holdings (ZBFH) has announced its intention to comply with the Reserve Bank of Zimbabwe's (RBZ) conditions to surrender the licence of its building society unit by the end of 2025.The central bank requ…

Published: 11 Jun 2025 at 08:40hrs | 130 | by Staff reporter

CABS renews US$40m facility to support the Zimbabwe economy

The Central Africa Building Society (CABS), a member of Old Mutual Zimbabwe, has reaffirmed its commitment to driving economic development and social impact across Zimbabwe, following the release of its financial results for the year ended…

Published: 21 Apr 2025 at 09:03hrs | 282 | by Staff reporter

Zimbabwean banks face backlash over excessive charges

Zimbabwe's banking sector is celebrating strong financial results, with shareholders across financial institutions enjoying substantial dividend payouts following another profitable year. However, the celebrations have been tempered by gro…

Published: 06 Apr 2025 at 11:26hrs | 393 | by Staff reporter

Elderly Bulawayo couple sentenced for exploiting bank glitch

An elderly couple from Bulawayo, who took advantage of a technical glitch at Stanbic Bank Zimbabwe to embezzle over US$30,000, has been sentenced to seven years in prison.Frank Sibanda and his wife, Francisca Netsai, both aged 65, went on …

Published: 27 Mar 2025 at 06:06hrs | 727 | by Staff reporter

FBC Bank introduces 24/7 deposit-taking ATMs in Zimbabwe

FBC Bank has unveiled a 'groundbreaking' service in Zimbabwe with the launch of Deposit-Taking ATMs, enabling customers to deposit cash into their individual accounts or FBC Mastercard Prepaid cards at any time of the day.This innovative f…

Published: 17 Dec 2024 at 15:23hrs | 1033 | by Staff reporter

Time Bank offers war vets US$3,5bn

TIME Bank has offered a US$3.5 billion compensation package to Zimbabwe's liberation war veterans as part of its broader US$38 billion loan proposal to the government. This development follows significant pressure from war veterans, who we…

Published: 14 Dec 2024 at 12:33hrs | 431 | by Staff reporter

Top Bank executive slams RBZ tight policy measures

A prominent banking executive has criticized the Reserve Bank of Zimbabwe (RBZ) for focusing too heavily on exchange rate stability at the cost of economic growth, warning that the central bank's recent monetary policy measures could have …

Published: 10 Nov 2024 at 11:05hrs | 1830 | by Staff reporter

RBZ withdraws Avis Bank's licence for failing to start operations

The Reserve Bank of Zimbabwe (RBZ) has cancelled Avis Bank Limited licence after the financial institution failed to commence operations as per registration requirements.According to Legal Identity Identifier (LEI), the bank was registered…

Published: 25 Nov 2023 at 07:50hrs | 19 | by Staff reporter

Stanbic Bank Zimbabwe launches China export guide for local business

Stanbic Bank Zimbabwe on Friday launched an export guide for Zimbabwean exporters and business entities seeking to understand and penetrate the Chinese market.The export guide e-book, which gives in-depth information and guidance on naviga…

Published: 22 Oct 2023 at 14:17hrs | 3 | by Staff reporter

Zimbabwe gold smugglers use South African banks, bribes to launder money

Several key officials at three major South African banks are helping a gold smuggling gang launder millions of dollars of dirty cash in exchange for regular bribes, an Al Jazeera investigation has found.The officers at Standard Bank, ABSA …

Published: 01 Apr 2023 at 17:56hrs | 1 | by Staff reporter

Harare man fails explain source of US$300,000 deposit

A Harare man has had some US$300,000 frozen in a local bank after he failed reportedly failed to explain how and why he money came to be in his account, it has emergedThe High Court recently heard that the money was deposited into Meshack …

Published: 03 Jul 2022 at 09:25hrs | | by Staff reporter

Dembare bank on imports

DYNAMOS coach Tonderai Ndiraya says the lack of high calibre centre forwards in the country has forced his club to import strikers from outside, which he is hopeful will help win the league championship this year.The Harare giants, who alr…

Published: 25 Feb 2022 at 07:15hrs | 1 | by Staff reporter

Bank queues a Covid-19 time bomb

BANKS are not adhering to World Health Organisation (WHO) standards and national Covid-19 guidelines as evidenced by their failure to control clients to ensure social distancing. Social distancing is one of the major tools necessary to cur…

Published: 04 Mar 2021 at 06:21hrs | 1 | by Staff reporter

Bank workers demand US dollars

THE Zimbabwe Banks and Allied Workers Union (Zibawu) says it has rejected a wage increase of about 350% tabled by employers during ongoing negotiations.According to Zibawu, the minimum wage in the sector is currently $5 800 per month.The p…

Published: 27 Jan 2021 at 06:03hrs | | by Staff reporter

First Capital Bank axes 120 workers

FIRST Capital Bank Zimbabwe (FCB), formerly Barclays Bank, has laid off 120 workers as the economic crisis continues to take a toll on the beleaguered financial services sector, NewsDay can exclusively reveal.The workers were served with t…

Published: 05 Sep 2019 at 08:09hrs | 4 | by Staff reporter

Nobuntu in second padbank concert

BULAWAYO'S dazzling all-female ensemble Nobuntu is set to hold its second padbank concert dubbed Nobuntu Padbank show on Saturday at the National Gallery of Zimbabwe.The initiative is aimed at establishing padbanks at youth centres in Bula…

Published: 03 Sep 2019 at 07:56hrs | 3 | by Staff reporter

Let the elders catch fish for themselves

A bank for women, a bank for youths, a bank for..........etc, when will there be a bank for pensioners? Maybe its because of the general notion that pensioners are destined to expire but, who does not? The founder and owner of KFC is said …

Published: 16 Mar 2019 at 20:25hrs | 2 | by Tondo Murisa

Tetrad Bank removed from judicial management

Following the placement of Tetrad Investment Bank under provisional judicial management on 29 January 2015 and the subsequent implementation of a scheme of arrangement on 15 November 2017, the Deposit Protection Corporation (DPC) advised t…

Published: 07 Dec 2018 at 12:01hrs | 5 | by Ndou Paul

Zimbabwe Ministers, MPs must bank their money and pay tax

Editor, If Zimbabwe is to revive its economy which has/had taken a nose dive, then every citizen in Zimbabwe or not domicile in Zimbabwe must play a pivotal role in helping the economy to appreciate. It does not matter your social standing…

Published: 25 Jun 2017 at 09:26hrs | 1 | by Njabulo

Forecast: Bank failure to hit Africa

AFRICA, through drastic banking sector overhauling initiatives may indeed recover all, including her debased economy and soon turn around her fortunes to become the world's fastest growing economy, alleviating and gradually eradicating acu…

Published: 04 Feb 2016 at 18:50hrs | 2 | by Maxwell Teedzai - Southern Africa Political Analyst

Zim Bank Lending on the Decline: What Will Drive Economic Recovery?

Since the turn of the new millennium, Zimbabwe's economy has been on a downward trajectory, characterised by hyperinflation, chronic unemployment and soaring national debt levels. The introduction of the multi-currency system reversed this…

Published: 21 Mar 2014 at 15:06hrs | | by Perry Munzwembiri

Muponda seeks to block the Liquidation of CFX Bank

One of Zimbabwe's exiled businessman Gilbert Muponda who was recently de-specified by the Government has started taking legal steps to reclaim some of the assets he lost during the time he was specified. Muponda has filed a notice to block…

Published: 19 May 2011 at 04:59hrs | | by Matthews Estell

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Bulawayo water shortages a critical problem

Nyambirai stirs succession troubled waters

Zanu PF appoints new Director General

Dangote to invest US$1 billion in Zimbabwe

Zimbabwe speeds up mercury phase-out

Girls warned against visiting 'prophets' alone

Domestic worker fined for assaulting employer's toddler

Baby dies after slipping from mother's back as parents fight

Govt approves 5,000 health posts to boost sector capacity

Police arrest suspect in fatal shooting of officer

Minister's aide arrested over gun at Zanu PF Conference

Mnangagwa critic arrested in US$10,000 trap

Chivayo gifts comedian US$150,000 for 'making Mnangagwa laugh'

Dembare edge Bosso on penalties

Man rapes woman at axe point

Security guards convicted for stealing company truck

US flags Zimbabwe's rigid labour laws

Cameroon elects world's oldest president at 92

ZIMSWA applauds push to decriminalise sex work in Zimbabwe

CCC MP Hwende Commends President Mnangagwa for Recognizing ZINARA’s Accountability Progress

Cyclones predicted

Fired cops reinstated after 10-year legal battle

Zanu-PF UK women donate sewing machines to Mnangagwa's wife

Zimbabwe approves scheme to protect workers in diaspora

ZRA warns ZESCO over excessive water use at Kariba dam

'Incompetent' magistrate banned from criminal trials

Mnangagwa launches book on Zimbabwe's economic revival

Pupil kidnapped, sexually violated

Cop fatally shot at police station

2 dead, several injured in head-on crash

There is no constitutional loophole

5 Zimbabweans convicted in £300,000 NHS fraud in UK

Extending Zimbabwe's Presidential term of office

Cyclones predicted

Cameroon elects world's oldest president at 92

Charamba 'explains' the Catholic land saga

Man rapes woman at axe point

Fired cops reinstated after 10-year legal battle

Mnangagwa's camp left in disarray

'Incompetent' magistrate banned from criminal trials

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