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High bank charges hindering financial inclusion in Zimbabwe

High bank charges imposed by local financial institutions are choking financial inclusion in Zimbabwe and running contrary to best practices across the region, a new National Economic Consultative Forum (NECF) report has revealed.The repor…

Published: 29 Aug 2025 at 06:01hrs | 589 | by Staff reporter

RBZ slams Zimbabwe banks over punitive fees

Zimbabwe's banks are facing criticism from both depositors and the Reserve Bank of Zimbabwe (RBZ) over the imposition of high fees and charges, which are increasingly seen as exploitative.RBZ Deputy Governor Dr Innocent Matshe, speaking at…

Published: 28 Aug 2025 at 22:32hrs | 158 | by Staff reporter

Zimbabwe's 2008 financial crash continues to haunt regulators

More than 15 years after Zimbabwe's 2008 financial collapse, the country's financial sector is once again under scrutiny as an estate developer has taken legal action against the Reserve Bank of Zimbabwe (RBZ), the Zimbabwe Revenue Authori…

Published: 22 Aug 2025 at 13:20hrs | 266 | by Staff reporter

Zimbabwe FIU fines 4 banks over weak AML Controls

Zimbabwe's Financial Intelligence Unit (FIU) fined four banks up to US$30 000 each last year after uncovering serious lapses in anti-money laundering (AML) and counter-terrorist financing (CFT) systems, the Zimbabwe Independent has establi…

Published: 22 Aug 2025 at 13:20hrs | 483 | by Staff reporter

RBZ to regulate AI in Zimbabwe's banks

The Reserve Bank of Zimbabwe (RBZ) is developing specific rules to regulate the use of artificial intelligence (AI) within the country's financial institutions, signaling a major step toward modernizing the banking sector.As AI becomes a t…

Published: 19 Aug 2025 at 18:30hrs | 148 | by Staff reporter

RBZ orders banks to report on rural financial literacy outreach

The Reserve Bank of Zimbabwe (RBZ) has stepped up efforts to promote financial literacy in rural and marginalised communities, directing all banks and microfinance institutions to submit quarterly updates on their outreach activities begin…

Published: 18 Aug 2025 at 08:42hrs | 200 | by Staff reporter

Zimbabwe banks show strong capital buffers

Most Zimbabwean banking institutions have exceeded minimum regulatory capital requirements, signalling stability, resilience, and soundness in the country's financial system, the latest Reserve Bank of Zimbabwe (RBZ) data shows.According t…

Published: 13 Aug 2025 at 09:08hrs | 212 | by Staff reporter

Zimbabwean consumers failing to secure loans from banks

Zimbabwean consumers are facing increasing difficulties in accessing loans from traditional banking institutions due to low wages and the escalating cost of living, according to the IH Zimbabwe Consumer Sector Report 2025 released by finan…

Published: 08 Jul 2025 at 12:10hrs | 204 | by Staff reporter

Zimbabwe banks process R6bn via regional payment systems

Zimbabwean banks processed transactions worth R6.09 billion (approximately US$339 million) through the Southern African Development Community Real-Time Gross Settlement System (SADC-RTGS) in 2024, marking a 2% increase from the previous ye…

Published: 27 Jun 2025 at 18:32hrs | 289 | by Staff reporter

Zimbabwe liquidates four failed banks

Four banks that collapsed between 2004 and 2008 have been officially liquidated, marking a significant milestone in Zimbabwe's financial sector. Hopewell Zinyau, Chief Executive Officer of the Deposit Protection Corporation (DPC), announce…

Published: 16 Jun 2025 at 15:08hrs | 16691 | by Staff reporter

Zimbabwe banks ready to dispense ZiG from ATMs

The Reserve Bank of Zimbabwe (RBZ) has sought to ease public concerns over the scarcity of the Zimbabwe Gold currency, commonly known as ZiG, assuring that the currency is becoming increasingly accessible across the country.In a statement …

Published: 16 Jun 2025 at 14:52hrs | 139 | by Staff reporter

Nedbank Zimbabwe wins US$2m Supreme Court case

The Supreme Court has thrown out an appeal by Israel-based firm Magic Software Enterprises Limited, which had sought to overturn a High Court decision that ruled nearly US$2 million held in a Nedbank Zimbabwe account was not a foreign loan…

Published: 10 Jun 2025 at 17:20hrs | 977 | by Staff reporter

Zimbabwe banks channel US$200m into agric sector

Zimbabwe's banking sector has injected approximately US$200 million to support the ongoing 2024/2025 summer cropping season, underscoring renewed efforts to revitalize agriculture, a sector long regarded as the backbone of the nation's eco…

Published: 22 May 2025 at 12:08hrs | 222 | by Staff reporter

'Zimbabwe banks have robust cybersecurity systems'

The Reserve Bank of Zimbabwe (RBZ) has prioritized cybersecurity and artificial intelligence (AI) as critical pillars for the financial sector's growth and stability, according to its 2025 Monetary Policy Statement (MPS).RBZ Governor Dr. J…

Published: 11 Feb 2025 at 06:38hrs | 150 | by Staff reporter

'Zimbabwe banks can't seize farmers' land'

The introduction of bankable title deeds for State-owned land will not result in financial institutions seizing control of land or reverse the gains of Zimbabwe's Land Reform Programme, according to Mr. Kudakwashe Tagwirei, Chairperson of …

Published: 16 Jan 2025 at 07:04hrs | 509 | 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 financial obligations. Former Finance M…

Published: 03 Dec 2024 at 09:58hrs | 13004 | by Staff reporter

Hackers target African govt departments, financial institutions

Cyberattacks targeting African governments have soared in 2023, doubling to a record 29%, according to a report by Positive Technologies, a cybersecurity firm specializing in data-driven security solutions. This sharp increase highlights g…

Published: 26 Nov 2024 at 08:11hrs | 207 | by Staff reporter

Robbers keep targeting Zimbabwe banks

Police have launched a manhunt for four suspected robbers who, armed with machetes and axes, raided a financial institution in the Mumvuri area of Shurugwi early Saturday morning. The gang made off with US$5,010 and R23,900 after attacking…

Published: 24 Oct 2024 at 13:12hrs | 1226 | 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 billions in Zimbabwe Gold (ZiG) due to econom…

Published: 18 Oct 2024 at 12:28hrs | 1436 | by Staff reporter

Zimbabwe banks reduce lending as crisis persists

Zimbabwe's banking sector is facing significant challenges that have limited its ability to lend, according to the Bankers Association of Zimbabwe (BAZ). Key issues include the absence of a lender-of-last-resort for US dollar transactions …

Published: 06 Sep 2024 at 14:41hrs | 236 | by Staff reporter

Zimbabwe banks downplay ZWG shortages

Zimbabwe's banking sector has sought to downplay reports of severe liquidity shortages following the introduction of the new Zimbabwe Gold (ZWG) currency by the Reserve Bank of Zimbabwe (RBZ) on April 5. Despite acknowledgments from retail…

Published: 30 Jun 2024 at 18:32hrs | 3 | by Staff reporter

Zimbabweans told to approach banks for ZiG, USD

The Reserve Bank of Zimbabwe has enough reserves to satisfy the foreign currency requirements of all legitimate businesses and no company needs to go to the black market to pay for imports, RBZ Governor Dr John Mushayavanhu said yesterday.…

Published: 12 Apr 2024 at 09:47hrs | 1 | by Staff reporter

Zimbabwe central bank summons Bank CEOs

The Reserve Bank of Zimbabwe (RBZ) has summoned chief executives of key financial institutions, specifically banks, for a meeting tomorrow morning ahead of the much-anticipated launch of a new currency amid the battered Zimbabwean dollar v…

Published: 04 Apr 2024 at 10:29hrs | 3 | by Staff reporter

Zimbabwe foundries engage banks to raise US$15m for retooling

THE Zimbabwe Institute of Foundries (ZIF) this week said it was engaging banks and government to raise uS$15 million for retooling of the existing foundries dotted around the country.Foundries are facilities that produce metal castings and…

Published: 25 Feb 2024 at 09:26hrs | 19 | by Staff reporter

Banks failing Zimbabweans

National police spokesperson Assistant Commissioner Paul Nyathi has accused Zimbabwean banks of failing the nation by not attracting depositors who are now opting to keep their money at home and business premises.Police have warned Bulaway…

Published: 30 Oct 2023 at 17:41hrs | 1 | by Staff reporte

US sanctions embargo 21 Zimbabwe banks

Sanctions against Zimbabwe, initiated by the United States in 2001 through the Zimbabwe Democracy and Economic Recovery Act (ZDERA) and followed by the European Union in 2002, were prompted by allegations of property and human rights viola…

Published: 30 Oct 2023 at 05:19hrs | 10 | by Staff reporte

Reserve Bank of Zimbabwe bails out 3 banks

THE Reserve Bank of Zimbabwe (RBZ) has used its lender of last resort (LoLR) facility to bail out three distressed banks which had run out of liquidity following the steep depreciation of the local currency rate in June this year.LoLR is a…

Published: 16 Aug 2023 at 06:49hrs | 17 | by Staff reporter

RBZ in bid to calm run on banks over currency fears

The Reserve Bank of Zimbabwe on Friday sought to calm a run on banks, insisting that depositors' funds were safe.Thousands of panicky Zimbabweans lined up in bank queues to withdraw their United States dollar balances, fearing a new bankin…

Published: 10 Jun 2023 at 17:53hrs | 2 | by Staff reporter

RBZ threatens to shut down businesses, prosecute directors over price hikes

The Reserve Bank of Zimbabwe on Friday threatened "punitive measures" against businesses accused of "illegal forward pricing practices thereby manipulating the foreign exchange rate.""In terms of the law, businesses are permitted to apply …

Published: 10 Jun 2023 at 17:53hrs | 2 | by Staff reporter

Banks scale back Zimbabwe dollar lending

BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve Bank of Zimbabwe (RBZ) Governor Dr John …

Published: 04 Jun 2023 at 08:29hrs | | by Staff reporter

ABSA, Standard Bank agree US$193m funding deal to build new Zimbabwe hospitals

Zimbabwe is to raise US$193 million in offshore lending to implement a 2019 agreement with UK infrastructure company NMS for the construction of hospitals and clinics in the country.ABSA and Standard bank of South Africa are the joint arra…

Published: 29 Mar 2023 at 20:43hrs | 2 | by Staff reporter

Banks use RBZ excuse to dismiss demands for US dollar salary payments

BANK Employers Association of Zimbabwe (BEAZ) has allegedly claimed that the Reserve Bank of Zimbabwe (RBZ) does not allow the payment of US$-denominated salaries as a way to counter mounting pressures from the sector's workers.BEAZ and th…

Published: 12 Feb 2023 at 07:36hrs | 1 | by Staff reporter

Zimbabweans head to court to stop 'harassment' by SA banks and schools

The Zimbabwe Exemption Permit Holders Association (Zepha) heads to court next week seeking an urgent interdict to stop banks and schools in South Africa from harassing Zimbabweans who are under threat of deportation once the Zimbabwe Exemp…

Published: 02 Dec 2022 at 05:05hrs | 3 | by Ciaran Ryan for Moneyweb SA

Zimbabwe banking sector risks crippling strike over US$ salary portions

PLANS for a crippling strike are hovering above the country's banking sector following the recent denial by the employers' side to honour partial payment of US$ salaries, Zimbabwe Banks and Allied Workers Union (ZIBAWU) has revealed.The sa…

Published: 20 Oct 2022 at 06:01hrs | 2 | by Staff reporter

Mnangagwa says Zimbabwe banks have gone rogue

PRESIDENT Emmerson Mnangagwa says most of Zimbabwe's banks have gone "rogue" and are operating in contravention of the country's laws.Writing in his column in The Sunday Mail, he said only 31% of deposit taking institutions passed a recent…

Published: 15 Aug 2022 at 06:43hrs | | by Staff reporter

Foreign banks troop to Zimbabwe forex auction

UNITED States-based multinational investment outfit JP Morgan was among global lenders that repatriated a combined US$30 million through the Reserve Bank of Zimbabwe (RBZ)'s forex auction system by the end of the first quarter, official da…

Published: 13 May 2022 at 19:10hrs | 1 | by Staff reporter

Foreign currency deposits continue to surge

FOREIGN currency deposits in local banks continue to increase in a development indicating growing confidence in the country's banking sector, latest Reserve Bank of Zimbabwe (RBZ) data has reveals.Statistics from the central bank shows tha…

Published: 11 Apr 2022 at 06:39hrs | 10 | by Staff reporter

Industrialists warn Zimbabwe banks

LOCAL financial institutions came under the spotlight on Friday as the central bank and industrialists regrouped to review a series of issues they agreed on in October, when relations between the two parties tumbled in the wake of a contro…

Published: 26 Jan 2022 at 04:46hrs | 12 | by Staff reporter

Forex bonus withdrawals overwhelm banks

SCORES of civil servants and pensioners continued to queue outside banking halls in Bulawayo yesterday seeking to withdraw their foreign currency, forcing some banks to seek police intervention to control crowds.Government has awarded its …

Published: 12 Dec 2021 at 19:56hrs | 10 | by Staff reporter

Agric loans hit $302m

Banks have loaned more to the agriculture sector this year than other sectors as they view it as a growth area that anchors the economy.The sector got 31 percent, or $302 million, of the total loanable funds, while the other sectors shared…

Published: 05 Dec 2021 at 06:12hrs | 8 | by Staff reporter

SA banks threaten to close bank accounts of Zimbabweans Exemption Permit holders

SOME South African banks are threatening to freeze accounts of Special Zimbabweans Exemption Permit holders if they don't provide new documents in January 2022.One of the permit holders, who requested anonymity, said he received a notice f…

Published: 04 Dec 2021 at 08:02hrs | 10 | by Staff reporter

Biti claims that proposed bank mergers illegal

FORMER Finance minister Tendai Biti, who is also a former chairperson of the National Assembly's Public Accounts Committee, said the proposed mergers of financial institutions involving government entities do not pass the due diligence tes…

Published: 18 Sep 2021 at 19:34hrs | 2 | by Staff reporter

Govt mulls merger of six banks into three entities

A PROPOSAL to merge six financial institutions into three big ones is being considered by the Zimbabwean government, in a different consolidation process from the CBZ Holdings, ZB Financial Holdings, First Mutual Holdings Limited (FMHL) an…

Published: 10 Sep 2021 at 18:53hrs | 11 | by Staff reporter

'Banks troop back into Zimbabwe agric funding'

GOVERNMENT has announced a fresh plan to attract banks into funding agricultural production, with draw-downs from the recently released International Monetary Fund Special Drawing Rights (SDRs) being used to help them manage lending risk.F…

Published: 03 Sep 2021 at 06:57hrs | 15 | by Staff reporter

Zimbabwean man remains missing after Mozambique's Palma terrorist attack

FEARS are growing for a 38-year-old Zimbabwean man missing since March 24 when Islamist insurgents launched an attack on the northern Mozambican coastal town of Palma, a town of approximately 75,000 residents in the province of Cabo Delgad…

Published: 11 Apr 2021 at 07:00hrs | 2 | by Staff reporter

Zimbabwe banks shut doors on 99-year farm leases

THE government has been forced to reintroduce its defunct Agricultural Finance Corporation (AFC) after financial institutions grouped under the Bankers Association and resolved not to accept the state-issued 99-year farm leases.Agriculture…

Published: 11 Apr 2021 at 07:00hrs | | by Staff reporter

RBZ warns banks

The Reserve Bank of Zimbabwe (RBZ) has warned banks which offer overdrafts to companies to buy foreign currency from the auction system saying such a move creates speculation in the market and promotes rent-seeking behaviour which drives i…

Published: 18 Mar 2021 at 06:42hrs | 2 | by Staff rpeorter

Challenged world is alert and from challenge comes change

As we celebrate the 2021 International Women's Day (IWD) under the theme #ChooseToChallenge, and focus on inclusion and diversity, we reflect on the representation of women in the banking industry.Financial intermediation services offered …

Published: 05 Mar 2021 at 06:38hrs | 1 | by Sibongile Moyo

Xmas rush exposes banks

A STEEP rise in demand for liquid cash experienced during the Christmas period exposed weaknesses in Zimbabwe's electric money strategy, a NewsDay Business survey revealed. Clients said electronic money transfers were be difficult to depen…

Published: 01 Jan 2021 at 07:39hrs | 11 | by Staff reporter

Foreign banks shut out debt-ridden state firms

SEVERAL foreign banks have spurned requests by Zimbabwe's broke state firms to borrow millions of dollars to pay off more debts and bankroll critical infrastructure development projects, businessdigest established this week.Official data s…

Published: 11 Dec 2020 at 18:59hrs | 8 | by Staff reporter

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Harare suburb battles severe sewage crisis

Chirumanzu chieftainship dispute intensifies

Churches pray for Mnangagwa's continued rule

Church commits to partnering govt in anti-drugs, substances abuse

Ex-Bosso CEO found guilty of US$2,000 fraud

RemitHope seeks to raise US$100 000 for 10 grassroots organisations in Africa

US lawmaker pushes Zimbabwe to repay white farmers

USA could finally repeal ZDERA sanctions on Zimbabwe, but...

3 men jailed for robbing Freda Mine worker in Gwanda

Security guard goes on goat stealing spree

Man finally in court 8 years after sister's murder

Unlicenced joyride 'car thief' beg court

Women's Bank partners Govt

Inferno destroys 30 vehicles at Mutare's Brooms garage

Potraz relocates over 40 base stations

Ruwa robbery suspects arrested after lavish spending spree

Kalangas rejects claims of subservience to Ndebele Kingdom

Organicare convicted for selling unregistered medicine

UK family finds 'better standard of living' in Zimbabwe

Zimbabwean man fatally attacked by elephant in South Africa

Hwange villagers lose livestock to water poisoning

Woman thrown out of moving car by robbers

Mother and son jailed for rape of a 15-year-old girl

Schoolkids drugged in biscuit scandal

Lost Harare Chieftainship seeks reinstatement

Parliament petitioned against water privatisation

Man pushes for mandatory DNA confirmation in maintenance cases

New tobacco grading system on the cards

Grain millers warn of impending mealie-meal shortage

Zanu-PF youths boo minister

Mnangagwa birthday event nationalised

Zimbabwean girl rescued after being chained in Johannesburg home

Mnangagwa launches $29 million Midlands Park Housing project

Zinasu leader takes GZU to High Court

Mpofu in top 10 finish at World Athletics Championships

Woman catches hubby 'violating' daughter

Govt warns schools against sending learners home over fees

Zimbabwean nurse tells shocking ordeal in UK Memoir

Chivayo donates 10 ambulances to Provincial Hospitals

Duo jailed for trying to bewitch Hichilema

Injiva gunned down

'Civil partners have no inheritance rights'

Esigodini man in court for rape, robbery

Zinara disburses ZiG6,1bn for road works

United Reformed Church priest stole £23,000

Presidential leadership power comes from God, says Andby

Court orders Chinese company to pay for gold ore theft

UCCZ appeals for support to complete Gazaland University

Milton High teacher faces disciplinary hearing

Chivayo blows US$3m on luxury cars for Zanu-PF chiefs

Ramaphosa posts explicit videos on X

'Harare-Mutare-Vic Falls flight route permanent,' AirZim announces

Sanctions were never Zimbabwe's real problem: Their removal will finally expose the regime's failures

The Zimbabwe Government is Not Learning from Past Mistakes

War vets sharpen knives against Mnangagwa

Germany's Dislike of Ms. Anna Lena Baerbock Makes Her Vulnerable at the UN

Injiva gunned down

Chivayo blows US$3m on luxury cars for Zanu-PF chiefs

UK family finds 'better standard of living' in Zimbabwe

Zimbabwean nurse tells shocking ordeal in UK Memoir

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