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Chiyangwa faces fresh Zifa headache
FORMER Zimbabwe Football Association (Zifa) president Philip Chiyangwa has been reported to the police for allegedly milking tens of thousands of dollars from the organisation, with documents showing ...Published: 13 Dec 2019 at 07:58hrs | 417 | by Staff reporter
Chiyangwa in trouble over $30,000 Zifa withdrawals
FORMER Zifa president Philip Chiyangwa is in trouble following a cocktail of allegations in which he is accused of stealing money from the association's bank account, fraud, abuse of office and misapp...Published: 11 Dec 2019 at 06:50hrs | 3517 | by Staff reporter
Businesswoman faces US$700K fraud
A 43-YEAR-OLD Bulawayo businesswoman has appeared in court facing charges of defrauding a fellow city businessman of US$700 000 in a well-calculated plan where she sought to offset debt with a local b...Published: 08 Dec 2019 at 11:50hrs | 395 | by Staff reporter
This is how the cash gets onto the black market
The question is, how on this cursed land is money that the Reserve Bank of Zimbabwe (RBZ) is busy printing getting onto the black market in such huge amounts? The answer is, it's taking quite a team â...Published: 01 Dec 2019 at 06:11hrs | 3284 | by Tawanda Majoni
Woman up for US$700,000 fraud
THE Zimbabwe Anti-Corruption Commission (Zacc) has arrested Bean There Restaurant managing director Delny Deanna Ashley Davies on allegations of defrauding a fellow businessman of US$700 000.D...Published: 28 Nov 2019 at 06:45hrs | 2937 | by Staff reporter
Mambondiani assumes CCAZ presidency
BancABC chief executive Dr Lance Mambondiani has been appointed president of the Contact Centre Association of Zimbabwe (CCAZ) taking over from DHL Zimbabwe managing director Jeff Phiri. Dr La...Published: 26 Nov 2019 at 07:19hrs | 143 | by Staff reporter
Come for more cash: RBZ
Banks have to continuously draw cash from the central bank to ensure uninterrupted supply to depositors, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has said.New cash and coins - ...Published: 24 Nov 2019 at 14:03hrs | 2009 | by Staff reporter
ZRP probes banks
THE Reserve Bank of Zimbabwe (RBZ) says a matter involving two banks alleged to have allowed their depositors to make withdrawals above the stipulated limit is now a police case.RBZ governor J...Published: 22 Nov 2019 at 18:26hrs | 4481 | by Staff reporter
Cash scam - RBZ clears Ecobank
Ecobank says the Reserve Bank of Zimbabwe's Financial Intelligence Unit (FIU) has exonerated the financial institution after completing investigations into alleged diversion of funds to the black mark...Published: 19 Nov 2019 at 20:32hrs | 1114 | by Staff reporter
Ecobank speaks on $15,000 cash found on parallel market
Ecobank Zimbabwe Limited has said it complied with regulatory requirements before approving a $15 000 cash withdrawal by a customer which resulted in pictures of new Zimbabwe dollar notes circulating ...Published: 19 Nov 2019 at 20:30hrs | 884 | by Staff reporter
Mthuli Ncube hails RBZ swift action on CBZ, Ecobank
Finance and Economic Development Minister Professor Mthuli Ncube has praised the Reserve Bank of Zimbabwe (RBZ) for swiftly acting against two banks alleged to have allowed their depositors to make wi...Published: 18 Nov 2019 at 06:26hrs | 1611 | by Staff reporter
Mthuli Ncube to embark on a brutal clampdown against cash barons
THE government has warned that it would embark on a brutal clampdown against cash barons and unscrupulous bank officials who are diverting money to the black market, the Daily News reports.Thi...Published: 16 Nov 2019 at 19:16hrs | 2555 | by Staff reporter
ZANU PF Youth leader calls for Mthuli Ncube to resign
ZANU PF Youth League National Commissariat Godfrey Tsenengamu says the Youth League will be marching to the Reserve Bank of Zimbabwe on Monday to push for the resignation of Governor John Mangudya and...Published: 15 Nov 2019 at 09:20hrs | 9467 | by Mandla Ndlovu
Ecobank, CBZ fingered in new notes, coins withdrawal scandal
THE Reserve Bank of Zimbabwe (RBZ) has said appropriate disciplinary measures will be taken against Ecobank Zimbabwe and CBZ Bank after two clients withdrew $15 000 and $44 180 respectively from the t...Published: 15 Nov 2019 at 06:14hrs | 581 | by Staff reporter
Ecobank in hot soup over cash abuse
Reserve Bank of Zimbabwe (RBZ) says Ecobank is responsible for releasing the wads of brand new notes circulating on social media. RBZ Governor Dr John Mangudya has this afternoon indicated tha...Published: 14 Nov 2019 at 17:10hrs | 3334 | by Staff Reporter
New notes, coins hit Bulawayo
EXCITED depositors yesterday flocked to their banking halls in Bulawayo to withdraw new notes and coins following the cash injection on Monday into the formal system by the Reserve Bank of Zimbabwe (R...Published: 14 Nov 2019 at 05:33hrs | 2241 | by Staff reporter
Depositors fail to get new bank notes
LONG queues resurfaced at banks in Bulawayo on Monday morning as depositors hoped to withdraw the new Zimbabwean dollar notes as promised by the Reserve Bank of Zimbabwe.A snap survey conducte...Published: 11 Nov 2019 at 14:24hrs | 1841 | by Staff reporter
Metro Peech and Browne Wholesalers introduce Bureaux de Change across 17 branches nationwide
A leading wholesaler in Zimbabwe, Metro Peech and Browne Wholesalers, has installed 17 new Bureaux de Change to deliver convenient foreign currency exchange solutions for customers across the country....Published: 29 Oct 2019 at 10:59hrs | 1371 | by Staff reporter
Ecobank Zimbabwe wins top bank award
PAN-AFRICAN financial institution Ecobank Zimbabwe Limited came tops at the prestigious Zimbabwe Independent Banks and Banking Survey that was held at a colourful ceremony in the in the capital yester...Published: 18 Oct 2019 at 05:26hrs | 199 | by Staff reporter
Zifa move to ring-fence forex reserves
Zifa have approached the court in bid to safeguard their foreign currency from 16 former employees who have attached one of the football association's bank accounts over a $195 818 debt.The co...Published: 08 Oct 2019 at 06:46hrs | 133 | by Staff reporter
18 more counts for ex-ZBC bosses
FORMER Zimbabwe Broadcasting Corporation (ZBC) chief executive Patrick Mavhura and ex-head finance, administration and human resources manager Benenia Shumba are likely to be charged with 18 more case...Published: 17 Sep 2019 at 07:27hrs | 309 | by Staff reporter
Zifa in court victory
The Zimbabwe Football Association (Zifa) has finally breathed a sigh of relief after efforts by a former employee, who had sought to garnish its bank account over a US$518 331 debt, were thwarted by t...Published: 13 Sep 2019 at 13:01hrs | 419 | by Staff reporter
Zifa shields purse
The Zimbabwe Football Association (Zifa), whose account was recently garnished over a US$518 331 debt owed to former administrator Lazarus Mhurushomana, has petitioned the High Court with an urgent ch...Published: 04 Sep 2019 at 08:44hrs | 474 | by Staff reporter
Currency changes choke banks
ZIMBABWE'S banking sector is skating on thin ice due to a illiquidity crunch that has drastically reduced the financial institutions' capacity to lend following the reintroduction of a local currency,...Published: 25 Aug 2019 at 18:51hrs | 817 | by Staff reporter
Interbank rate overtakes black market
THE interbank exchange rate has surpassed parallel market rates with some banks offering more in local currency for those exchanging their foreign currency. Government last week outlawed the u...Published: 03 Jul 2019 at 08:25hrs | 1978 | by Staff reporter
Zifa blocks bank account freeze
THE Zimbabwe Football Association (Zifa) has successfully thwarted the bid by a local hospitality firm, Daisy Guest Lodge (Pvt) Ltd, to freeze its bank account over a payment dispute.According...Published: 15 Jun 2019 at 08:59hrs | 187 | by Staff reporter
Zifa in $700k scam
At least US$700 000 disbursed by the world's soccer governing body Fifa disappeared from a Zifa account and found its way into private bank accounts of some of the association's executive members, cou...Published: 04 Jun 2019 at 07:11hrs | 605 | by Staff reporter
Minister Matiza in NRZ funding storm
TRANSPORT minister Joel Biggie Matiza could have mislead parliament this week when he told legislators that South African rail, port and pipeline company, Transnet, and Diaspora Infrastructure Develop...Published: 17 May 2019 at 07:18hrs | 2560 | by Staff reporter
RBZ warns over wild interest rates
The Reserve Bank of Zimbabwe (RBZ) has warned domestic banks against arbitrary hikes of lending rates and called for a fine balancing act in dealing with cost and inflationary pressures to avoid tippi...Published: 12 Apr 2019 at 07:28hrs | 2158 | by Staff reporter
Zimbabwean banks ask RBZ to lift interest-rate cap
Zimbabwe's lenders, which include units of Standard Bank Group and Ecobank, appealed to the central bank to raise interest rates that have been capped at 12% for the past two years, saying this would ...Published: 03 Apr 2019 at 20:22hrs | 1824 | by Bloomberg
Consumer rights group to lobby Parly over data bundles costs
A CONSUMER rights' watchdog has launched a campaign against high mobile data costs, after recent reports showed that Zimbabwe had some of the most expensive data tariffs on the continent.This ...Published: 14 Mar 2019 at 07:46hrs | 320 | by Staff reporter
Zimbabweans demand cheaper internet: #DataMustFall
A campaign has been launched in Zimbabwe calling for telecom providers to reduce how much they charge for internet services, reports ...Published: 10 Mar 2019 at 10:12hrs | 1605 | by Staff writer
Massive fraud hits City of Harare
AN audit has unearthed massive fraud at City of Harare where unregistered point of sale (POS) machines are being used to carry out billing transactions outside the municipality's official financial sy...Published: 08 Mar 2019 at 13:12hrs | 4822 | by Staff reporter
Zifa barred from accessing funds
High Court judge Justice Amie Tsanga has ordered Ecobank Zimbabwe Limited to stop Zifa from accessing funds held by the financial institution pending the finalisation of a wrangle between the football...Published: 26 Feb 2019 at 20:31hrs | 1102 | by Staff reporter
$400m NRZ deal set to top Mnangagwa - Ramaphosa talks
THE National Railways of Zimbabwe (NRZ) US$400 million deal will be one of the key items on the agenda during the South Africa-Zimbabwe bi-national commission meetings when South African President Cyr...Published: 22 Feb 2019 at 09:14hrs | 1048 | by Staff reporter
Forex shortages hit money transfer agencies
Money transfer agencies mainly Western Union, have become latest victims of foreign currency shortages as it emerged they are failing to access hard cash from local banks for onward transfer to receiv...Published: 19 Feb 2019 at 22:57hrs | 6414 | by Staff reporter
Bank sued over Zifa debt
Daisy Guest House is suing EcoBank for allowing Zifa to access funds in its account after the football-controlling body's money had been attached over their failure to pay for $161 762 in accommodatio...Published: 15 Feb 2019 at 08:46hrs | 440 | by Staff reporter
Frantic talks fail to unlock NRZ logjam
A SERIES of meetings this week aimed at ending the stalemate in the finalisation of the US$400 million National Railways of Zimbabwe (NRZ) recapitalisation deal failed to break the deadlock among the ...Published: 15 Feb 2019 at 08:23hrs | 906 | by Staff reporter
Delma Lupepe loses house over $200k bank loan
PROMINENT Bulawayo businessman and Zimpapers board chairperson Delma Lupepe has lost his bid to retain his property after the High Court threw out his application for more time to service a $200 000 l...Published: 01 Feb 2019 at 09:43hrs | 619 | by Staff reporter
$400m NRZ deal in limbo
GOVERNMENT is reconsidering the US$400 million National Railways of Zimbabwe (NRZ) recapitalisation project to be jointly undertaken by the South African rail, port and pipeline company, Transnet and ...Published: 11 Jan 2019 at 09:54hrs | 689 | by Staff reporter
Strive Masiyiwa struggles to stomach criticism
In what started as a routine interview with continental business television channel CNBC Africa, Strive Masiyiwa, Econet founder and Executive Chairman describes the political changes being witnessed ...Published: 02 Jan 2019 at 08:46hrs | 8508 | by Willliam Muchayi
Harare seeks $3,1m forex for refuse trucks
HARARE City Council has engaged the Reserve Bank of Zimbabwe to facilitate the release of $3,1 million meant for 16 refuse compactors being held by the supplier, FAW Group Corporation.Harare h...Published: 12 Dec 2018 at 05:37hrs | 382 | by Staff reporter
Mthuli Ncube tells banks to relax lending policies
FINANCE Minister Mthuli Ncube has urged banks to relax their stringent lending requirements in order to improve access to financial services.Ncube was speaking at the Zimbabwe Independent's Ba...Published: 07 Dec 2018 at 06:12hrs | 1323 | by Staff reporter
CABS is the top bank in Zimbabwe
FINANCE minister Mthuli Ncube has urged banks to diversify and develop business models tailored to meet special requirements of the unbanked and underserved segments of the population.Ncube wa...Published: 03 Dec 2018 at 07:28hrs | 1045 | by Staff reporter
$2,1million fraud businessman out of custody
THE Harare businessman accused of defrauding a Bulawayo company of more than $2 million last year has been remanded out of custody to 14 December this year.Onesimo Ndoro appeared in court last...Published: 02 Dec 2018 at 12:41hrs | 1126 | by Staff reporter
CABS come tops Banks and Banking survey
CABS emerged the top-performing bank at this year's edition of the Zimbabwe Independent Banks and Banking Survey ceremony, which was held in Harare last night.CBZ was the first runner-up, foll...Published: 30 Nov 2018 at 09:32hrs | 492 | by Staff reporter
RioZim sues RBZ over US$ payments
Resources group, RioZim, has sued the central bank to force it to pay over $92 million it claims is owed dating back to 2016 in a case that highlights the acute dollar shortages blighting the southern...Published: 22 Nov 2018 at 06:03hrs | 902 | by Staff reporter
Zimbabwe's Data and Voice Queen B named?
Zimbabwean business tycoon Mutumwa Mawere has suggested that there is a Data and Voice Queen B in Zimbabwe. Mawere threw in the suggestion after Econet Wireless founder Strive Masiyiwa's wife, Ts...Published: 31 Oct 2018 at 20:32hrs | 22580 | by Ndou Paul
Zimbabwe's Data and Voice Queen B named?
Zimbabwean business tycoon Mutumwa Mawere has suggested that there is a Data and Voice Queen B in Zimbabwe. Mawere threw in the the suggestion after Econet Wireless founder Strive Masiyiwa's wife...Published: 31 Oct 2018 at 09:40hrs | 842 | by Ndou Paul
PPC mulls cement price increase
PPC Zimbabwe (PPC) is mulling an increase in cement prices to hedge against rising inflation, The Financial Gazette has learnt.In the wake of runaway United States dollar (USD) parallel market...Published: 18 Oct 2018 at 15:15hrs | 2584 | by Staff reporter
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