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Why Zimbabweans keep watching their money go up in smoke
It was 10 p.m. when a frantic pounding on Modester Nyangoni's door dragged her out of a deep sleep.That hot October day, she had been on her feet manning her stall at the largest market in Zim...Published: 25 Dec 2024 at 08:24hrs | 1739 | by Staff reporter
Bulawayo thrives with festive shopping and holiday preparations
Bulawayo was buzzing with energy yesterday as last-minute Christmas shoppers filled the city, creating a festive and vibrant atmosphere. Banking halls, supermarkets, and beauty salons were packed, whi...Published: 25 Dec 2024 at 08:20hrs | 136 | by Staff reporter
Zimbabwean Nationals are a target of international cyber criminals
As more and more Zimbabweans embrace the digital economy, the rise of cybercrime has become a significant concern for its citizens. With increasing internet penetration, more individuals are engaging ...Published: 20 Dec 2024 at 12:19hrs | 298 | by Jacob Kudzayi Mutisi
Mukuru expanding into deposit-taking microfinance institution
Zimbabwe's rapidly growing remittance sector has prompted several money transfer platforms to diversify their services, with Mukuru Financial Services Zimbabwe Limited becoming the latest to be licens...Published: 19 Dec 2024 at 16:56hrs | 486 | 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 a...Published: 17 Dec 2024 at 15:23hrs | 1013 | by Staff reporter
Stanbic named best ovderall bank 2024
Harare, 17 December 2024 - Stanbic Bank Zimbabwe has been named the overall best performing bank at the Banks and Banking Survey Awards 2024 sponsored by First Capital Bank. Stanbic Bank has n...Published: 17 Dec 2024 at 09:15hrs | 323 | by Agencies
Infrastructure development takes centre stage at Zifa polls
In just eight days, the Zimbabwe Football Association (ZIFA) Electoral Committee will reveal the names of candidates who have passed the integrity test for the upcoming ZIFA board elections. Among the...Published: 15 Dec 2024 at 09:10hrs | 96 | by Staff reporter
Zimbabwe's banking sector sees surge in US dollar deposits
Zimbabwe's banking sector has experienced a remarkable increase in confidence, with foreign currency deposits rising by 13% to US$2.64 billion in October 2024, compared to the same period in 2023. Thi...Published: 14 Dec 2024 at 12:35hrs | 2129 | by Staff reporter
'Counterfeits, financial instability imperil manufacturing sector'
Zimbabwean consumers are grappling with increasing difficulties, including the proliferation of counterfeit goods and financial instability, as the country's manufacturing sector struggles to grow. Pa...Published: 13 Dec 2024 at 09:39hrs | 47 | by Staff reporter
RBZ deputy governor says Zimbabwe banking sector is resilient, stable
Reserve Bank of Zimbabwe (RBZ) Deputy Governor, Innocent Matshe, has highlighted the continued resilience and stability of the country's banking sector, despite facing challenges such as liquidity iss...Published: 13 Dec 2024 at 09:36hrs | 81 | by Staff reporter
HCCL Management Urged to Respect Workers' Rights
Hwange Colliery Company Limited (HCCL) Chief Executive Officer William Gambiza has been urged to prioritize workers' rights as he takes on his role as the company's permanent CEO, a position he offici...Published: 11 Dec 2024 at 19:51hrs | 599 | by Stephen Jakes
US, UK sanction Gold Mafia linked dealer
The United States and Britain imposed sanctions on several individuals and businesses linked to global gold smuggling and money laundering networks, with Zimbabwean businessman Kamlesh Pattni at the c...Published: 10 Dec 2024 at 07:08hrs | 948 | by Staff reporter
4 banks quit in South Africa in 2024
BNP Paribas, HSBC, Sasfin Bank, and Bidvest Bank have all announced massive changes to their South African operations in 2024.French-based BNP Paribas was the first bank of the four to announc...Published: 09 Dec 2024 at 15:19hrs | 777 | 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 | 299 | 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 | 1400 | 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 | 608 | by Eng. Jacob Kudzayi Mutisi
Ecobank reopens Parkade branch after $4 million heist
Ecobank Zimbabwe has reopened its Parkade branch in Bulawayo's Central Business District (CBD) after a two-month closure following a shocking armed robbery. The October 3 heist, described as Zimbabwe'...Published: 04 Dec 2024 at 06:40hrs | 156 | by Staff reporter
'Banks refuse to make salary payments on behalf of Zimbabwe govt'
A dramatic financial crisis has hit Zimbabwe's civil service as banks have reportedly withheld payments for thousands of public sector workers' salaries, citing the government's inability to meet its ...Published: 03 Dec 2024 at 09:58hrs | 12954 | by Staff reporter
RBZ assures bonus payments will not disrupt economic stability
Reserve Bank of Zimbabwe (RBZ) Governor Dr. John Mushayavanhu has assured that the payment of civil servant bonuses ahead of the festive season will not affect price stability or the exchange rate....Published: 01 Dec 2024 at 08:50hrs | 97 | by Staff reporter
Mphoko points to legal disputes as why Choppies is exiting Zimbabwe
Choppies Enterprises Limited has revealed plans to cease its operations in Zimbabwe, citing increased competition from the informal sector among other challenges. However, former Vice President Phelek...Published: 30 Nov 2024 at 15:42hrs | 2859 | by Staff reporter
All eyes on Professor Mthuli Ncube
As Zimbabwe prepares for the presentation of the 2025 National Budget, all eyes are on Finance, Economic Development, and Investment Promotion Minister, Professor Mthuli Ncube. The Budget, which serve...Published: 27 Nov 2024 at 08:13hrs | 1087 | by Staff reporter
Surge in US$ cash transactions triggers spike in armed robberies in Zimbabwe
Zimbabwe is experiencing an alarming rise in armed robberies, with the increasing use of US dollar cash transactions making businesses, banks, and individuals prime targets for criminals. Violent atta...Published: 27 Nov 2024 at 06:50hrs | 215 | by Staff reporter
Zimbabwean accountant in R17m theft from Joburg non-profit entity
A ZIMBABWEAN accountant is in trouble for the theft of over R17 million from his former employer, Johannesburg-based non-profit company Education and Training Unit (ETU), over a period of six years....Published: 24 Nov 2024 at 16:01hrs | 2525 | by Staff reporter
Zimbabwe banking sector strengthens amid declining non-performing loans
The Reserve Bank of Zimbabwe (RBZ) has reported a significant improvement in the country's banking sector credit risk landscape, marked by a decrease in the ratio of non-performing loans (NPLs) to tot...Published: 24 Nov 2024 at 09:55hrs | 76 | by Staff reporter
Zimbabwe teachers petition govt over 'farm-like' wages
The Progressive Teachers Union of Zimbabwe (PTUZ) has formally petitioned the government over the ongoing issue of erratic salary payments, particularly highlighting delays in the payment of the local...Published: 23 Nov 2024 at 13:31hrs | 1642 | by Staff reporter
Ecocash loses ZWG 148,7 million in conversion to new currency
Ecocash Holdings Zimbabwe Limited, a leading diversified digital solutions group, has reported a loss of ZWG 148.7 million following the transition to the newly introduced ZWG currency, which was intr...Published: 21 Nov 2024 at 06:35hrs | 1903 | by Staff reporter
EcoCash Holdings posts strong profit growth in half-year results
EcoCash Holdings Zimbabwe Limited has posted impressive results for the half-year ending August 31, 2024, highlighting the resilience of its business model and the effectiveness of its strategic initi...Published: 21 Nov 2024 at 06:21hrs | 33 | by Staff reporter
Stanbic Bank Steps up efforts to promote International Trade
Harare - 20 November 2024 - Leading financial services institution, Stanbic Bank Zimbabwe has stepped up efforts to promote international trade by launching an e-book which guides locals on how to sou...Published: 20 Nov 2024 at 21:09hrs | 179 | by Agencies
NMBZ turns to Rabobank for agric financing
NMBZ Holdings Limited, a leading financial services group, has announced a strategic partnership with Rabobank, a Dutch multinational specializing in banking and financial services, to implement an en...Published: 19 Nov 2024 at 08:49hrs | 219 | by Staff reporter
Civil servants start receiving annual bonuses
The Government has commenced the disbursement of annual bonuses to civil servants, fulfilling its promise of a 13th cheque to its workforce. Payments began last Friday, with banks and major supermarke...Published: 18 Nov 2024 at 15:00hrs | 234 | by Staff reporter
'Trump Presidency to hurt Zimbabwe's trade, investments'
Zimbabwe's trade and investment prospects could face significant challenges following United States President-elect Donald Trump's proposed tariff policies, according to an analysis by FBC Securities....Published: 11 Nov 2024 at 07:13hrs | 2295 | 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 rece...Published: 10 Nov 2024 at 11:05hrs | 1827 | by Staff reporter
Fired BancABC managers threaten to wash 'dirty linen' in public
A bitter and escalating dispute between dismissed BancABC managers and the bank's leadership is threatening to destabilize one of Zimbabwe's leading financial institutions. The conflict, which involve...Published: 10 Nov 2024 at 11:04hrs | 1487 | by Staff reporter
South Africans lost R1 billion to digital banking fraud
Money lost by South Africans to digital banking fraud increased from R735,000 in 2022 to R1.1 billion in 2023 - a 47% increase.This is according to the South African Banking Risk Centre's (Sab...Published: 08 Nov 2024 at 16:33hrs | 631 | by Staff reporter
Bank card fraud chaos in South Africa
In 2023, card-not-present (CNP) fraud accounted for over 68% of all card fraud committed in South Africa, costing citizens over R700 million.This is according to the South African Banking Risk...Published: 08 Nov 2024 at 16:31hrs | 2230 | by Staff reporter
BancABC uses 'dirty tactics' to silence bosses?
BancABC is engulfed in controversy, facing accusations of fabricating charges against at least nine top managers as part of a strategy to evade paying retrenchment packages, NewZimbabwe.com has learne...Published: 04 Nov 2024 at 06:50hrs | 1349 | by Staff reporter
CABS bank manager accused of stealing depositors' funds
A manager at the CABS Highlands branch, Raymond Chikonyora, faced court last week on serious charges related to the unauthorized withdrawal of funds from clients' accounts. The allegations have raised...Published: 03 Nov 2024 at 10:17hrs | 5346 | by Staff reporter
Bonuses for civil servants will be paid starting Friday next week
Starting Friday next week, Zimbabwean public sector employees will begin receiving their 2024 annual bonuses, with the first 50 percent instalment to be paid alongside November salaries and the remain...Published: 03 Nov 2024 at 10:05hrs | 1455 | by Staff reporter
Management shake up at RBZ
The Reserve Bank of Zimbabwe (RBZ) is initiating a significant remodelling of its management structure as newly appointed Governor John Mushayavanhu aims to assemble a capable team to address the coun...Published: 01 Nov 2024 at 06:48hrs | 2552 | by Staff reporter
China opposes coercive measures against developing countries
China on Tuesday represented 28 Global South countries and delivered a joint statement at the United Nations opposing unilateral coercive measures and urging countries imposing them to "immediately an...Published: 25 Oct 2024 at 15:52hrs | 132 | by Staff reporter
US Ambassador agrees that Zimbabwe was under sanctions
In a recently published op-ed, US Ambassador to Zimbabwe, Pamela M. Tremont, provided clarity on the sanctions imposed on Zimbabwe, emphasizing the limited scope and specific targets of these measures...Published: 25 Oct 2024 at 12:54hrs | 603 | by Ambassador Pamela M. Tremont
Innovate Change: Best Online Casinos in New Zealand | Where to Play and Win Real Money
Multiple online casinos offer players the chance to win big while enjoying their favorite games from the comfort of home. However, not all online casinos are created equal. To help Kiwi players fin...Published: 24 Oct 2024 at 14:59hrs | 196 | by Staff Reporter
Jamboo joins Crowdcube in groundbreaking fundraising campaign
Fintech company Jamboo has embarked on an exciting new chapter, launching its fundraising campaign on Crowdcube, the UK's largest crowdfunding platform. Jamboo, co-founded by Zimbabwean entrep...Published: 23 Oct 2024 at 20:23hrs | 286 | by Agencies
ED2030 campaign suffers setback
An ambitious campaign to extend President Emmerson Mnangagwa's term beyond 2028 has suffered a significant setback, with a key faction of the ruling Zanu-PF party failing to endorse the move in resolu...Published: 22 Oct 2024 at 08:05hrs | 1750 | by Staff reporter
BRICs payment system being tested
A new digital payments system, BRICS Pay, debuted for live testing at this week's BRICS Business Forum at the International Trade Center in Moscow.During the trial - on 17 and 18 October - for...Published: 19 Oct 2024 at 15:54hrs | 1751 | by Staff reporter
Billions 'wiped off' Zimbabwe banks
Bankers in Zimbabwe have attributed a significant downturn in revenues to frequent changes in the country's functional currency, as first-half financial statements revealed a staggering loss of billio...Published: 18 Oct 2024 at 12:28hrs | 1433 | by Staff reporter
Tafadzwa Bandama appointed new Director-General of Zimstat
Local economist Tafadzwa Bandama has been appointed the new Director-General of the Zimbabwe National Statistics Agency (Zimstat), the country's primary statistics agency. This appointment follows the...Published: 18 Oct 2024 at 10:34hrs | 350 | by Staff reporter
Standard Bank employee jumps to death at workplace
A Standard Bank employee has tragically died after jumping from the 7th floor of the bank's head offices on Baker Street in Rosebank, Johannesburg, in what is believed to be a suicide. The incident oc...Published: 12 Oct 2024 at 16:35hrs | 5848 | by Staff reporter
Mthuli Ncube assures Zimbabweans amid ZiG volatility concerns
Finance Minister Mthuli Ncube has reassured Zimbabweans that there is no cause for alarm regarding potential volatility of the Zimbabwe Gold (ZWG) currency, citing the country's balanced local currenc...Published: 12 Oct 2024 at 11:22hrs | 376 | by Staff reporter
Harare City Council uncovers $2 million scandal
A seven-member sub-committee appointed by the Harare City Council has uncovered a scandal that has cost the municipality over US$2 million in a dubious land deal. The investigation, initiated in May 2...Published: 08 Oct 2024 at 07:32hrs | 551 | by Staff reporter
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