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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 | 469 | by Staff reporter
Objections filed against Kweza, Magaya, Machana nominations
The ZIFA Normalisation Committee is facing significant scrutiny after receiving objections to the nominations of Martin Kweza, Prophet Walter Magaya, and Philemon Machana for key roles in the administ...Published: 17 Dec 2024 at 10:30hrs | 1147 | by Staff reporter
Manyuchi to pay US$18,000 for impregnating married woman at gym
Former world boxing champion Charles Manyuchi has been ordered by the High Court to pay US$18,000 in damages after he was found guilty of having an adulterous affair with a young married woman he trai...Published: 07 Dec 2024 at 12:04hrs | 1917 | by Staff reporter
Livestock farmers bemoan delayed rains
Livestock farmers across Beitbridge district are voicing their concerns over the delayed start of the rainy season, which has disrupted grazing patterns and severely affected the health of their lives...Published: 11 Nov 2024 at 11:35hrs | 532 | by Staff reporter
Manager in court over ghost workers
Tinashe Madzima, a human resources manager at Livetouch Investments Private Limited, appeared in court on Tuesday facing fraud charges after allegedly creating fictitious employee accounts to defraud ...Published: 31 Oct 2024 at 06:50hrs | 667 | by Staff reporter
Prophet Walter Magaya in financial trouble
Leading ZIFA presidential candidate Prophet Walter Magaya is at risk of losing his hotel and the Heart Stadium in Waterfalls, Harare, due to an outstanding debt of US$420,000 owed to GetBucks Microfin...Published: 12 Oct 2024 at 16:47hrs | 2579 | by Staff reporter
200 benefit from OMZ Women's Roundtable
Nearly 200 prominent female executives, entrepreneurs, and representatives from diverse sectors joined the transformative financial inclusion gathering de...Published: 17 Sep 2024 at 21:45hrs | 128 | by Paul Ndou
Zimbabwe diaspora remittances up 17%
In the first quarter of the year, diaspora remittances to Zimbabwe surged by 17%, reaching US$490 million compared to US$420 million during the same period in 2023. This increase in remittances is see...Published: 18 Jul 2024 at 06:41hrs | 159 | by Staff reporter
Zimbabwe economy on the upswing, rating agency says
ICRA Rating, a UAE-based credit rating agency, has lauded Zimbabwe's economy for demonstrating impressive resilience and growth. The agency attributes this positive outlook to recent government initia...Published: 12 Jul 2024 at 09:15hrs | 43 | by Staff reporter
Microfinance sector dumps local currency
In the first quarter of 2024, the United States dollar loan portfolio in Zimbabwe's microfinance sector surged by nearly 8% to reach US$48.63 million, up from US$45.1 million in the previous quarter. ...Published: 12 Jun 2024 at 06:43hrs | 8 | by Staff reporter
RBZ scraps bank charges for low-cost accounts
IN a move meant to encourage a culture of banking, the Reserve Bank of Zimbabwe (RBZ) has announced the scrapping of bank charges for low-cost accounts.Presenting his first Monetary Policy Sta...Published: 07 Apr 2024 at 10:06hrs | | by Staff reporter
Potraz moves to regulate omalayitsha
The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has expanded its licensing categories to encompass cross-border transporters, commonly referred to as "omalayitsha," in a bi...Published: 01 Nov 2023 at 05:47hrs | 13 | by Staff reporter
Shingi Munyeza loses property over debts
BUSINESSMAN and church leader, Shingi Munyeza, is now bankrupt after his upmarket house and an assortment of movable property was attached over debts.The development has turned him into a tena...Published: 19 Sep 2023 at 19:42hrs | 1 | by Staff reporter
Mnangagwa's wife honoured in UK, lifts global award
ANGEL of Hope Foundation patron First Lady Dr Auxillia Mnangagwa was yesterday presented with the 2023 Global Education Leadership Award by Cambridge International Education Conference and a shield by...Published: 19 Jul 2023 at 06:33hrs | 1 | by Staff reporter
Police, ZACC probe 3 PSMAS bosses
Police this week picked up for questioning three Premier Service Medical Aid Society (PSMAS) managers over allegations of fraud, corruption and criminal abuse of office.The three, who are stil...Published: 27 Apr 2023 at 06:23hrs | 5 | by Staff reporter
High Courts foils illegal hostile company takeover
IN a huge victory for Israeli investor Ofer Sivan, the High of Zimbabwe has blocked the 'illegal' hostile takeover of earth moving equipment business, Adelcraft Investments, by Gillad Shabtai and his ...Published: 28 Feb 2023 at 08:44hrs | 21 | by Paul Ndou
Judge dresses down businessman for approaching his court 'with dirty hands'
High Court judge Jacob Manzunzu has taken a swipe at businessman Ofer Sivan for approaching his court "with dirty hands" in a case in which the latter is involved in a row with partners over sharehold...Published: 26 Feb 2023 at 09:13hrs | 13 | by Staff reporter
Reserve Bank slashes lending rates, increases forex retention
THE Reserve Bank of Zimbabwe (RBZ) has trimmed its bank policy rate to 150 percent from 200 percent per annum and increased foreign currency retention thresholds for exporters on domestic sales while ...Published: 02 Feb 2023 at 22:58hrs | 5 | by Staff Reporter
Shareholders fight directors over Tetrad Bank control and assets
TETRAD Investment Bank (TIB) shareholders are locked in a heated row with its directors for the control of the defunct financial institution's US$13 million assets. TIB has properties and othe...Published: 12 Oct 2022 at 18:49hrs | 2 | by Agencies
Huge perks for PSMI boss
THE managing director of Premier Service Medical Investments (PSMI) Dr Tafadzwa Gutu is living large with a lucrative contract that sees him pocket US$23 000 a month in salary and allowances.W...Published: 25 Jul 2022 at 06:26hrs | | by Staff reporter
'Mthuli Ncube, John Mangudya must resign'
OPPOSITION political parties have demanded that Finance minister Mthuli Ncube and Reserve Bank of Zimbabwe (RBZ) governor John Mangudya resign, accusing them of crafting anti-poor policies that are wo...Published: 29 Jun 2022 at 07:49hrs | | by Staff reporter
Monetary policy inconsistency sinking economy
On the 17th of May 2022, the Reserve Bank of Zimbabwe (RBZ) issued a circular cancelling the order announced by the head of state on the suspension of bank lending one week earlier. The head of state ...Published: 08 Jun 2022 at 07:19hrs | | by Victor Bhoroma
RBZ to launch collateral registry
THE Reserve Bank of Zimbabwe (RBZ) says the collateral registry, a record keeping system for the existence of security, would be launched by the third quarter of this year. The collateral regi...Published: 19 May 2022 at 06:31hrs | | by Staff reporter
RBZ extends loan ban to individuals, corporates
THE Reserve Bank of Zimbabwe (RBZ) has extended the suspension of lending of both local and foreign currency units by an array of financial institutions to also cover corporates and individuals....Published: 11 May 2022 at 09:10hrs | | by Staff reporter
'Mnangagwa's Zimdollar measures show desperation'
THE latest measures by President Emmerson Mnangagwa to halt the sliding Zimdollar are an act of desperation and are not likely to work, analysts have said.Mnangagwa's measures include br...Published: 09 May 2022 at 07:09hrs | 2 | by Staff reporter
RBZ comes hard on bank shareholders
SHAREHOLDERS at financial institutions that have failed to meet new minimum capital requirements will forgo dividends until their firms comply with the central bank's directives, the Reserve Bank of Z...Published: 08 Feb 2022 at 05:37hrs | | by Staff reporter
Zimbabwe govt to pay US$ to depositors
THE Government has availed through Kuvimba Mining House, US$400 000 to the Deposit Protection Commission (DPC) to start the process of compensating small and vulnerable depositors who saw the value of...Published: 30 Jan 2022 at 08:21hrs | 9 | by Staff reporter
West casts sanctions net wider
LOCAL banks have raised concerns over capitalisation demands by the Reserve Bank of Zimbabwe (RBZ) compelling the financial institutions and deposit-taking micro-financefirms to meet their tar...Published: 21 Jan 2022 at 18:35hrs | 7 | by Staff reporter
Zimbabwean heads Africa list of women to watch in banking & finance
WOMEN to Watch in Banking and Finance program has announced the list of Top 10 women shaping Africa's financial services sector.The list was compiled following a 3 month entry period which saw...Published: 14 Jan 2022 at 06:38hrs | 9 | by Staff reporter
Vapostori pledge allegiance to Zanu-PF
A LEADER of the Johanne Masowe Echishanu, Andby Makururu has pledged allegiance to the ruling Zanu-PF party, saying President Emmerson Mnangagwa was economically empowering members of his sect....Published: 20 Dec 2021 at 05:52hrs | 8 | 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...Published: 05 Dec 2021 at 06:12hrs | 6 | by Staff reporter
Parliament resumes sitting
Following the official opening of the Fourth Session of the Ninth Parliament, the National Assembly resumed sitting yesterday with parliamentarians commending President Mnangagwa for the State of the ...Published: 21 Oct 2021 at 06:17hrs | | 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 ent...Published: 18 Sep 2021 at 19:34hrs | | by Staff reporter
'Grab business opportunities availed by Second Republic'
THE Affirmative Action Group (AAG) has challenged Zimbabweans to grab opportunities availed by the Second Republic and venture into businesses that will help develop the country. Speaking at t...Published: 16 Sep 2021 at 05:53hrs | | 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, ...Published: 10 Sep 2021 at 18:53hrs | 6 | by Staff reporter
Foreign investors line up new bank in Zimbabwe
A group of domestic and foreign investors has lodged an application with Zimbabwean authorities to roll out an investment bank, the first such institution since investment banks were toppled under the...Published: 10 Sep 2021 at 07:35hrs | 8 | by Staff reporter
Zimnat launches Motor Vehicle Assessment Centre with simulated accident
Zimnat General Insurance today (Thursday) launched its first Motor Vehicle Assessment Centre with a head turning simulation of an accident along Leopold Takawira Street in Harare, opposite Parirenyatw...Published: 09 Sep 2021 at 16:53hrs | 23 | by Staff reporter
RBZ negotiates US$150m African bank deal
THE Reserve Bank of Zimbabwe (RBZ) says it has negotiated the unlocking of up to US$150 million from the Afreximbank through a Letter of Credit arrangement as part of efforts to widen support towards ...Published: 09 Aug 2021 at 07:34hrs | | by Staff reporter
Collateral-free loans for pensioners
PENSIONERS are set to benefit from collateral-free loans through a new facility that has been developed by the National Social Security Authority (NSSA).This is the latest in a number of initi...Published: 08 Aug 2021 at 07:19hrs | 1 | by Staff reporter
Struggling Gwanda SMEs in need of development funds
DELAYS in the disbursement of funds and unattractive vending points have been identified as major stumbling blocks for small to medium enterprises (SMEs) in Gwanda that are struggling to recover from ...Published: 14 May 2021 at 07:35hrs | 8 | by Staff Reporter
Zimbabwe's inflation rate now at 194%
THE annual inflation rate will continue falling and year-on-year inflation will be below 55 percent in July, the Reserve Bank of Zimbabwe's Monetary Policy Committee (MPC) says, confirming trends. ...Published: 05 May 2021 at 07:13hrs | 5 | by Staff reporter
Govt defends varsity fees hike
THE government has defended the increase in tuition fees by higher learning institutions despite disgruntlement by hard-pressed parents and guardians. This comes as the authorities granted pol...Published: 22 Mar 2021 at 15:38hrs | | by Staff reporter
Khanyi Mbau romantically linked to 'fugitive' Zimbabwean millionaire
KHANYI Mbau got tongues wagging after it emerged that she's apparently romantically linked to alleged Zimbabwean fugitive and millionaire, Kudzai Terrence Mushonga.In a now-deleted post, Khany...Published: 12 Feb 2021 at 10:01hrs | 1 | by Staff reporter
Steer clear of loan sharks
"Sir, if those assets just decrease by 25% and they remain on our books, that loss will be greater than the entire market capitalisation of this company," said a young risk analyst named Peter Sulliva...Published: 15 Jan 2021 at 07:48hrs | 6 | by Batanai Matsika
Afro-Sino economic relations in the 21st Century: Mixed Reactions and Misinterpretations
The Author is a Master of Science in International Trade and Diplomacy student at the University of Zimbabwe. He holds a MSc degree in Development Studies (National U...Published: 04 Jan 2021 at 19:21hrs | 9 | by Livingstone Kazizi
Lion Microfinance placed under curatorship
LION MICROFINANCE LIMITED PLACED UNDER THE MANAGEMENT OF A CURATOR Notice is hereby given that LION MICROFINANCE LIMITED has today, been placed under th...Published: 27 Jul 2019 at 17:35hrs | 1 | by RBZ
Mnangagwa pledges support for women's projects
President Emmerson Mnangagwa has pledged more budgetary support for women's community projects, saying his administration recognises the role played by women in socio-economic development.The ...Published: 21 Jul 2019 at 10:02hrs | | by Staff reporter
Edgars Stores ups interest rates
Edgars Stores Limited says it is in the process of increasing interest rates charged on customer accounts due to inflation and increased cost of borrowing.In a trading update at the company's ...Published: 14 Jul 2019 at 14:55hrs | 1 | by Staff reporter
Emmerson Mnangagwa's cabinet review
News doing the rounds says the Vice President of the Republic of Zimbabwe has passed on , it seems Chiwenga and Robert Mugabe have one thing in common - they both die in the media and resurrect miracu...Published: 03 Jul 2019 at 09:51hrs | | by Nicholas Ncube
Lupane East MP's burial unites Zanu-PF, MDC
THE Lupane East Member of Parliament and liberation war heroine Sithembile Gumbo was yesterday buried at the Matabeleland North Provincial Heroes' Acre at Lupane Centre.Gumbo (56), died on Mon...Published: 21 Apr 2019 at 08:12hrs | | by Staff reporter
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