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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 | 296 | 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 | 606 | by Eng. Jacob Kudzayi Mutisi
Mthuli Ncube's moment of truth
Finance minister Mthuli Ncube's candidacy in Cowdray Park constituency in Bulawayo has revived debate on reports of systematic underdevelopment of the city and the whole Matebeleland region since 1980...Published: 20 Aug 2023 at 09:30hrs | 10 | by Staff reporter
Who sent Mthuli Ncube to Zimbabwe?
Mthuli Ncube was the founder of the Barbican Bank, an elite institution that faced serious liquidity challenges, was involved in rampant fraudulent foreign exchange activities among other vices. After...Published: 28 May 2023 at 15:58hrs | 1 | by Sam Wezhira
Mthuli Ncube abandons technocrat tag
FINANCE minister Mthuli Ncube has abandoned his public image as President Emmerson Mnangagwa's poster boy technocratic cabinet minister after throwing his hat in the ring ahead of the Zanu-PF primary ...Published: 25 Mar 2023 at 11:33hrs | | by Staff reporter
Mthuli Ncube transforms from technocrat to political player
IF ever there was any doubt, Finance minister Mthuli Ncube has fully abandoned his posture as a neutral technocrat after being elected a Zanu-PF central committee member last weekend.The centr...Published: 23 Oct 2022 at 18:55hrs | | by Staff reporter
Can real leaders please stand up!
WHEN hospitals start turning away patients because of inadequate sundries, this should jolt any serious government to act.When the face of hospitals, which are the nurses, decide to down tools...Published: 17 Jun 2022 at 08:29hrs | | by Staff reporter
The death of the Zimdollar shows the King has no clothes
The death of the Zimbabwe dollar is proof that with all our education, there is something terribly rotten in Simbao (ancient name for Zimbabwe).I want to make an apology to Sister Fay Chun...Published: 05 Jun 2022 at 09:16hrs | 1 | by Kenneth Mufuka
Mr President destroy corruption not people's livelihoods
The second republic led by President Emmerson Mnangagwa needs to be proactive than being reactive and employing knee jerk policies.This cold winter have seen the government giving a thump up t...Published: 22 Jun 2021 at 21:00hrs | | by Leonard Koni
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 | | by Staff reporter
Board members are to blame for company failure
The Zimbabwean government is battling to contain the never ending problem of company shutdowns which is now prevalent in Zimbabwe. Some of the companies have either folded or are in intensive care the...Published: 09 Apr 2019 at 11:40hrs | 1 | by Engineer Jacob Kudzayi Mutisi
Mnangagwa's ministers fail 2018 ratings
As Zimbabweans waved goodbye to 2018 yesterday, and awaited with much trepidation the dawn of the new year, in the light of the country's deepening economic woes, the Daily News - as per its rich annu...Published: 02 Jan 2019 at 14:20hrs | 1 | by Staff reporter
A timeline of how Zimbabwe lost its currency
Today, November 14, marks the 21st anniversary of "Black Friday", the day the Zimbabwe dollar crashed in 1997.We track the Zimdollar's collapse from that fateful November day, and the many des...Published: 14 Nov 2018 at 15:10hrs | 4 | by newZwire with The Source
Mthuli Ncube on a trajectory of vendettas?
We received this article from a senior banker at the Reserve Bank of Zimbabwe, supporting his colleagues who are facing corruption allegations. We are withholding his...Published: 23 Oct 2018 at 07:58hrs | | by The Banker
Mthuli Ncube warns of more pain ahead
Finance minister Mthuli Ncube has warned Zimbabweans to brace for more pain as he tries to pull the country's tottering economy out of its current state.The well-regarded former banker has als...Published: 06 Oct 2018 at 13:10hrs | | by Staff reporter
Zimbabwe economy in safe hands
THE appointment of a leaner Cabinet by President Emmerson Mnangagwa is not only welcome, but also goes a long way in demonstrating that the President listened to the people, mindful of the need to man...Published: 19 Sep 2018 at 07:25hrs | | by Daniel Ngwira
Haddon and Sly workers down tools
Workers at struggling Bulawayo supermarket Haddon and Sly, one of the oldest in the city, at the weekend staged a demonstration against a decision by the company to close the shop, allegedly for renov...Published: 18 Sep 2018 at 07:46hrs | | by Staff reporter
Economic war cabinet
After the noise and deliberate anti-development scheme by the opposition President Mnangagwa has appointed a new well balanced and surprising Cabinet. The nation is very anxious for change and the anx...Published: 15 Sep 2018 at 06:44hrs | | by Dr Masimba Mavaza
Mnangagwa has changed Zanu-PF into a fresh new-look organisation
Political analysts say President Emmerson Mnangagwa's new Cabinet - in which he dumped both friends and foes alike on Friday last week - demonstrates that he is determined to reset the government's co...Published: 12 Sep 2018 at 20:01hrs | 1 | by Staff reporter
Financial illiteracy is our biggest enemy in Zimbabwe
I found a very interesting letter in one of my old books that I last read in 2004. It is a letter that I received from Barclays Bank (Zimbabwe), offering me a Z$1 million overdraft facility. Three yea...Published: 12 Sep 2018 at 06:47hrs | | by Hopewell Chin'ono
Jonathan Moyo warns Minister Mthuli Ncube
Self-exiled former cabinet minister Professor Jonathan Moyo has advised new Minister of Finance, Professor Mthuli Ncube to join the ruling Zanu-PF party in order to get political clout. He also advise...Published: 11 Sep 2018 at 09:28hrs | | by Sithabile Mafu
Mnangagwa appoints technocrats in new Cabinet
PRESIDENT Emmerson Mnangagwa yesterday pulled a shocker when he dropped several Zanu PF party bigwigs, some who had served as Cabinet ministers for several years, and appointed three technocrats - for...Published: 08 Sep 2018 at 08:28hrs | | by Staff reporter
Mnangagwa's new Cabinet has potential to turn around the economy
Our people rarely agree politically but they appear to have over the figures that President Mnangagwa appointed into his Cabinet yesterday. He brought in new faces and a few surprises, youths, added m...Published: 08 Sep 2018 at 08:21hrs | 28 | by Staff reporter
Mnangagwa in Cabinet shocker
PRESIDENT Emmerson Mnangagwa yesterday pulled a shocker when he dropped several Zanu PF party bigwigs, some who had served as Cabinet ministers for several years, and appointed three technocrats - for...Published: 08 Sep 2018 at 07:14hrs | | by Staff Reporter
Mnangagwa appoints Prof Mthuli Ncube as Finance minister
President Emmerson Mnangagwa has appointed the Professor Businessman Mthuli Ncube as Finance Minister replacing the long serving minister Patrick Chinamasa.Ncube owned the now defunct Barbican...Published: 07 Sep 2018 at 15:24hrs | | by Stephen Jakes
Mthuli Ncube to replace Chinamasa at finance?
GLOBALLY respected economist and public policy expert, Professor Mthuli Ncube, is thought to be in the frame as President Emmerson Mnangagwa's puts together his cabinet after the bitterly disputed Jul...Published: 01 Sep 2018 at 09:36hrs | | by Staff reporter
Who is Professor Mthuli Ncube?
PROFESSOR Mthuli NCUBE is a financial, economics, investment, and public policy expert. He has vast experience and worked in the private sector, public sector, academia, and international financial in...Published: 21 Aug 2018 at 17:51hrs | 1 | by Agencies
Zanu-PF bigwigs bleed banks dry
Politicians, particularly the elite in Zanu-PF, are proving to be a thorn in the flesh for the financial services sector, with hardly a month passing without the Deputy Sheriff being called in to put ...Published: 19 Jun 2017 at 13:58hrs | | by Staff reporter
Zanu-PF responsible for the current decay, says Mugabe's nephew
Flamboyant businessman and Zimbabwe Football Association president, Philip Chiyangwa has lashed out at the country's political leadership, saying they were responsible for the current decay, telli...Published: 29 Oct 2016 at 16:30hrs | | by Staff reporter
Trust Bank bosses face litigation
THE Deposit Protection Authority has recommended litigation against directors of Trust Bank Corporation Ltd, for fraudulent conduct of business. KPMG, an agent of Depositors Protection Corpora...Published: 22 Jul 2016 at 05:35hrs | | by Business Reporter
Big wigs suck Zimbabwe banks dry
The majority of banks that folded over the past five months choked on souring loans extended to top executives and serial debtors, The Sunday Mail reported.AfrAsia is the latest victim of toxi...Published: 22 Mar 2015 at 07:09hrs | 1 | by Staff Reporter
Obert Mpofu's bank collapses
HARARE - The troubled Allied Bank has reportedly surrendered its banking licence after failing to inject more capital to keep it afloat due to economic hardship.In a statement, the RBZ sa...Published: 08 Jan 2015 at 19:30hrs | | by Staff Reporter
Gideon Gono replacement, Dr Mthuli Ncube in the race
Finance Minister Patrick Chinamasa on Thursday presents the 2013-14 National Budget statement amid growing speculation on who will be the next Reserve Bank Governor. Dr Gideon Gono ended the second o...Published: 17 Dec 2013 at 03:14hrs | | by Business Reporter
ZSE delist three listings
THE Zimbabwe Stock Exchange’s interim board has ordered the termination of the listing of Barbican Holdings Limited, TZI Limited and Red Star Limited.The order, which was e...Published: 26 Apr 2013 at 06:56hrs | | by Business Reporter
ZSE shares rise as govt denies amending the Indigenisation Act
ZSE shares stayed in the positive territory on Thursday after Indigenisation minister Saviour Kasukuwere dismissed reports that the Indigenisation Act was being amended to provide for payment of share...Published: 25 Apr 2013 at 12:30hrs | 1 | by Business reporter
Gono cancels Barbican Bank licence
THE Reserve Bank of Zimbabwe (RBZ) has cancelled the registration of Barbican Bank after it failed to commence banking business within the required time frame, the apex bank said on Friday.In...Published: 03 Mar 2013 at 12:31hrs | | by Business reporter
Another Zimbabwean bank falls
ROYAL Bank has surrendered its licence amid revelations that the bank has been involved in serious abuse of depositors' funds and is burdened by non-performing insider loans among a cocktail of operat...Published: 28 Jul 2012 at 04:56hrs | | by Business reporter
Media reports on the fall of Interfin divert attention from systematic looting
Media reports on the fall of Interfin Bank can not go unchallenged as they seek to divert attention from the systematic looting spree at the Bank and try to apportion some blame elsewhere. According t...Published: 22 Jun 2012 at 10:34hrs | 1 | by Gilbert Muponda
Obert Mpofu injects $22 million into ZABG, gains control of the bank
LOCAL private firm Trebor Khays - which is linked to the Minister of Mines Obert Mpofu - has gained control of ZABG after injecting US$22,8 million into the bank, which has resulted in it being fully...Published: 17 Jun 2012 at 13:09hrs | | by Business Reporter
Obert Mpofu linked company buys Zimbabwe bank says Herald
ZABG Bank has reached an agreement with Unicapital of Mauritius and a local private firm, Trebor & Khays, for fresh capital injection to meet regulatory capital requirements. The bank's great esc...Published: 03 Apr 2012 at 07:14hrs | | by Staff reporter
Obert Mpofu buying into a Zimbabwean bank
HARARE – In yet another indication that Mines minister Obert Mpofu is a man of significant means, Daily News alleges that the senior Zanu-PF politician-cum-b...Published: 05 Mar 2012 at 04:56hrs | | by Chris Goko and Everson Mushava
Adoption of the dollar has been positive but also challenging: Mthuli Ncube
According to Mthuli Ncube, former Barbican Bank chief and chief economist and vice-president of the African Development Bank the adoption of the US dollar as a base currency in Zimbabwe has been posi...Published: 04 Jul 2011 at 08:42hrs | | by Moyo Roy
Nicholas Vingirai to bounce back as a major shareholder at ZB Holdings
VILIFIED exiled banker Mr Nicholas Vingirai is set to bounce back as a major shareholder of ZB Holdings Limited according to a deal which is being brokered by lawyer and TN Holdings group chief execu...Published: 12 Jun 2011 at 10:21hrs | 4 | by Mafu Sithabile
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 specifi...Published: 19 May 2011 at 04:59hrs | | by Matthews Estell
Gono's creation ZABG, bankrupt
The Zimbabwe Allied Banking Group failed to publish year-end results last month amid reports that PricewaterhouseCooper has refused to certify its financials as it is bankrupt.PwC managing pa...Published: 24 Apr 2011 at 05:08hrs | 2 | by Mathews Estell
Mthuli Ncube's Barbican Bank resumes operations
Barbican Bank and Intermarket Banking Corporation which were placed under curatorship a few years ago will resume operations soon Reserve Bank of Zimbabwe Dr Governor Gideon Gono has said....Published: 16 Mar 2011 at 04:59hrs | 1 | by Byo24News
Trust Bank has reopened 10 branches countrywide
Trust Bank has reopened 10 branches countrywide since its relaunch last December.Group spokesperson Ms Barbra Muyengwa said the Chinhoyi branch, which came online last week, was the latest to ...Published: 03 Feb 2011 at 01:51hrs | | by Byo24NEWS
Royal Bank set to bounce back
ROYAL Bank says it will be ready to resume operations by the end of this month and intends to roll out 12 branches countrywide in a fortnight next month. Founding director Mr Jeffrey Mzwimb...Published: 17 Dec 2010 at 01:00hrs | 1 | by Byo24
Trust Bank is back
TRUST Banking Corporation Limited reopened for business yesterday after a six-year absence. The bank is operating a branch at Trust Towers while another branch is set to open in B...Published: 14 Dec 2010 at 11:00hrs | 1 | by Byo24
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