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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 bankers warn of price increases
Bankers in Zimbabwe are raising alarms about potential price increases and shortages of basic commodities following the recent devaluation of the Zimbabwe Gold (ZiG) by over 40% by the Reserve Bank of...Published: 03 Oct 2024 at 08:56hrs | 299 | by Staff reporter
BAZ, central bank meet over policy interventions
The Bankers Association of Zimbabwe (BAZ) held a crucial meeting with the Reserve Bank of Zimbabwe (RBZ) governor, Dr. John Mushayavanhu, on Monday to address key policy changes from the Monetary Poli...Published: 03 Oct 2024 at 08:44hrs | 56 | by Staff reporter
World Bank hails Zimbabwe's tight Monetary Policy stance
THE World Bank (WB) has commended the Reserve Bank of Zimbabwe (RBZ) for putting in place a tight Monetary Policy alongside other interventions which have managed to ease inflationary pressures....Published: 14 Dec 2023 at 03:57hrs | 1 | by Staff reporter
Zimbabwe's capital markets collapse
DELTA Corporation CEO Matlhogonolo Valela has given graphic details about the frustrations that local firms have been enduring in accessing capital due to the country's difficult business environment....Published: 11 Sep 2022 at 15:21hrs | 1 | by Staff reporter
Zamco winds up operations
THE Zimbabwe Asset Management Company (Zamco) is winding up operations after it paid off, last year, the $1,2 billion it received from the Government to acquire Non-Performing Loans (NPLs).Zam...Published: 17 Jun 2022 at 08:14hrs | | by Staff reporter
Zamco clears US$14,3m in bad debts
OVER 70% of the total loans taken over by the Zimbabwe Asset Management Company (Zamco) have been fully expunged, with the vehicle now seized with processes to wind up its operations ahead of its suns...Published: 27 Aug 2021 at 06:38hrs | | by Staff reporter
Zimbabwe banks defy headwinds
ZIMBABWE'S banking sector posted a combined ZW$15,1 billion (US$176,2 million) net profit during the first half of the year, after riding out headwinds posed by the deadly Covid-19 pandemic, Reserve B...Published: 06 Aug 2021 at 07:53hrs | | by Staff reporter
Zimbabwe banks weather the storm
ZIMBABWE'S banking institutions remained profitable during the year ended December 2019, reporting net income of $6,4 billion, an improvement from $389,9 million reported during the corresponding peri...Published: 20 Dec 2020 at 07:04hrs | | by Staff reporter
Zimbabe military clarifies NSSA role in Afreximbank loan
Africom wishes to state facts on the Africom Afreximbank loan of 15m after having noted that certain elements of the media continue to misrepresent the contents on the recently published Forensic Audi...Published: 14 Aug 2019 at 15:16hrs | | by Africom
Zamco debt recovery at 23%
A SPECIAL purpose vehicle set to take up banks' accrued debts, the Zimbabwe Asset Management Company (Zamco), has so far recovered only 23,2% of the $1,13 billion toxic money, the minister of Finance ...Published: 05 Aug 2019 at 07:37hrs | | by Staff reporter
Zimbabwe Treasury Bills auction begins
THE Reserve Bank of Zimbabwe (RBZ) is looking to raise $30 million to finance Government programmes through the issuance of Treasury Bills via an auction system. Treasury Bills (TBs) are...Published: 01 Aug 2019 at 09:18hrs | | by Staff reporter
Scrapping of multi-currency regime: The implications
ON Monday, the government announced major changes in the monetary policy of Zimbabwe, highlighted by the ending of a 10-year multi-currency system.Further measures announced include the intend...Published: 26 Jun 2019 at 07:32hrs | | by Respect Gwenzi
Mnangagwa's advisor speaks on US Dollar ban
Member of the Emmerson Mnangagwa's Presidential Advisory Council Dr Shingi Munyeza has penned seven points which he predicts will occur after the gazetting of the Statutory Instrument 142 of 2019 by F...Published: 25 Jun 2019 at 09:36hrs | | by Mandla Ndlovu
Zimbabwe banks tighten purse strings
Most financial institutions are tightening on lending as they try to significantly reduce Non-Performing Loans (NPLs) ratios. This comes as most banks increased total loans and advances last y...Published: 10 May 2019 at 07:18hrs | | 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 | 2 | by Staff reporter
Understanding the ZAMCO business model
There has been a lot of talk about the Zimbabwe Asset Management Company (Zamco) lately, particularly after the appearance of the Reserve Bank of Zimbabwe governor, John Mangudya, before the Parliamen...Published: 04 Apr 2019 at 07:02hrs | | by Vince Musewe
Tendai Biti's mischief exposed
The recent summoning of the Reserve Bank Governor, Dr John Mangudya, to appear before the Parliamentary Public Account Portfolio Committee (PAC) has exposed Tendai Biti, the Committee Chairman of usin...Published: 12 Mar 2019 at 22:29hrs | 1 | by Staff reporter
Name, shame loan defaulters, Biti demands
PARLIAMENT has demanded that Reserve Bank of Zimbabwe (RBZ) governor John Mangudya make public the schedule of beneficiaries whose loans were taken up by the Zimbabwe Asset Management Company (Zamco) ...Published: 05 Mar 2019 at 10:26hrs | | by Staff reporter
Zimbabwe banking sector stable, but assets quality deteriorates
ZIMBABWE'S banking sector remained generally stable and adequately capitalised during the year ended December 2018, but the quality of assets deteriorated as reflected by the increase in the average n...Published: 22 Feb 2019 at 09:01hrs | | by Staff reporter
Banking sector profits jump 61%
ZIMBABWE's banking sector has recorded a 61 percent jump in aggregate profits to $390 million for the year ended 31 December 2018 when compared to $242 million in 2017, according to the Reserve Bank o...Published: 21 Feb 2019 at 22:34hrs | | by Staff repprter
Zimbabwe commercial bank deposits surge 25% to $8 billion
Commercial banks deposits rose by 25% to $8 billion in the first 10 months of last year, data from the central bank has shown.According to the Reserve Bank of Zimbabwe (RBZ)'s monthly review o...Published: 30 Jan 2019 at 08:05hrs | | by Staff reporter
'Arrest Mangudya now for $1billion loot' whistleblower demands
Whistleblower Prisca Mutema has heightened her call for President Emerson Mnangagwa , Finance minister Mthuli Ncube and General Constantino Chiwenga to probe Reserve Bank Governor John Panonetsa Mangu...Published: 13 Nov 2018 at 12:00hrs | 6 | by Mandla Ndlovu
'I am Zimbabwe's saviour' says Mangudya
Embattled Reserve Bank of Zimbabwe Governor Dr. John Panonetsa Mangudya has claimed that he is going out of his way to solve economic challenges happening in Zimbabwe.Addressing legislators at...Published: 09 Nov 2018 at 08:46hrs | | by Mandla Ndlovu
Mangudya's US$1 billion fraud exposed?
Whistle blower Prisca Mutema has alleged that embattled Central Bank Governor John Panonetsa Mangudya is involved in a US$1 billion fraud that saw him and his cronies benefiting from loans taken from ...Published: 06 Nov 2018 at 07:38hrs | 15 | by Mandla Ndlovu
Zamco gives grace period for bad loans
The Zimbabwe Asset Management Company (Zamco) will allow an eight-year moratorium on all restructured non-performing loans (NPLs) before the central bank's bad loans cleansing special purpose vehicle ...Published: 17 Sep 2018 at 06:43hrs | | by Staff reporter
'Interest rates drop to maximum 12%'
THE Reserve Bank of Zimbabwe (RBZ) says it continues to engage banks over the cost of borrowing, as directed by Government, but contends that at current prevailing range of 6 and 12 percent; lending r...Published: 16 May 2018 at 06:45hrs | | by Staff reporter
CBZ turns focus to productive sector
CBZ Holdings will focus on supporting the key productive sectors of the economy such as agriculture and mining as the country's biggest banking group expands its reach."Going forward, we will ...Published: 18 Mar 2018 at 09:03hrs | 1 | by Staff reporter
Zimra threatens to wield axe
The Zimbabwe Revenue Authority (Zimra), which is contending with widening tax defaults by both individuals and corporates, says it is open to payment plans to prevent ballooning interests and penaltie...Published: 11 Feb 2018 at 07:32hrs | 1 | by Staff reporter
Banking sector deposits maintain upward trajectory
Finance Minister Patrick Chinamasa has said the banking sector deposits has maintained an upward trajectory, increasing by 17.1%, from US$6.51 billion as at end December 2016, to US$7.62 billion as at...Published: 07 Dec 2017 at 15:30hrs | | by Stephen Jakes
'Govt debt crowding out private lending'
The Zimbabwean banking sector is seen stagnating owing to a credit crunch with client loan growth projected to contract by 4% by year-end given the rate at which Zimbabwean banks are buying Treasury B...Published: 25 Nov 2017 at 14:54hrs | 1 | by Staff reporter
Reserve Bank of Zimbabwe rules out hyperinflation
ZIMBABWE'S economy will not revert back to the hyperinflation environment despite the recent unjustified price increases on basic commodities and services in the market, the Reserve Bank of Zimbabwe h...Published: 12 Nov 2017 at 06:59hrs | | by Staff Reporter
Zimbabwe's credit bureau takes shape
THE Reserve Bank of Zimbabwe's efforts to set up the Credit Reference Bureau (CRB) has received a major boost after banks submitted information on 90% of their loans to the registry as the central ban...Published: 09 Jul 2017 at 08:05hrs | | by Staff reporter
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
Zimbabwe banks urged to reduce rates
The Movable Property Security Interests Bill that proposes the use of livestock as collateral for bank loans might not be useful if financial institutions do not reduce the interest rates to between 4...Published: 07 May 2017 at 08:31hrs | | by Staff reporter
Agribank pounces on defaulters
NEARLY 20 properties belonging to embattled companies and individuals across the country will be auctioned today in Harare to settle debts owed to State-owned financial institution, Agricultur...Published: 21 Apr 2017 at 06:52hrs | | by Staff reporter
Mugabe in desperate move to raise bonuses
Hard-pressed President Robert Mugabe's government is issuing Treasury Bills (TBs) in a desperate move to raise money to pay restive civil servants' 2016 bonuses, Finance minister Patrick Chinamasa...Published: 11 Apr 2017 at 11:54hrs | 1 | by Staff reporter
Banking sector profits jump to $181 million
THE banking sector in Zimbabwe closed year 2016 with $181 million profits, recording a 42 percent increase from $127 million in 2015, the central bank reported.In his 2017 Monetary Policy ...Published: 16 Feb 2017 at 06:14hrs | | by Staff reporter
RBZ caps bank charges
THE Reserve Bank of Zimbabwe (RBZ) has capped interest rates at 12 percent per annum from 18 percent and further reduced bank charges in a bold move meant to enhance financial sector stability and...Published: 16 Feb 2017 at 06:06hrs | | by Staff reporter
'Zimbabwe banking sector stable,' claims Chinamasa
Finance and Economic Development Minister Patrick Chinamasa says the banking sector continues to stabilise following the freeing of bank's balance sheet by the Zimbabwe Asset Management Company (Z...Published: 12 Dec 2016 at 07:16hrs | | by Staff reporter
Zimbabwe Credit Reference Bureau system to go live end of August
THE long awaited Credit Reference Bureau (CRB) system is due to kick off by end of August, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said.A credit registry is an institutio...Published: 17 Aug 2016 at 09:01hrs | | by Staff reporter
'High interest rates cripple economy'
A MAJORITY of company closures in Zimbabwe are a result of overcharging on interest rates on loans that firms would have borrowed from banks, an official said yesterday.Following the adoption ...Published: 27 Jul 2016 at 08:07hrs | | by Oliver Kazunga
Credit Reference Bureau to go online on July 31
Zimbabwe's Credit Reference Bureau (CRB) is set to be fully operational by the end of next month, an official has said.The chief bank examiner at the Reserve Bank of Zimbabwe Mr Ruzayi Chiviri...Published: 14 Jun 2016 at 15:35hrs | | by Tawanda Musarurwa
Zimnbabwe banks face new rise in bad loans
Non-performing loans (NPLs) could rise in the current financial year after financial institutions struggled with bad loan books in the full year to December (FY15), an analysis of banks' financial...Published: 15 Apr 2016 at 11:52hrs | | by Staff reporter
Chinese blamed for stalling Zimbabwe's economic turnaround
An insidious culture of dishonouring loan agreements has taken root in public and private enterprise and is now affecting Government inter-State economic partnerships.The latest victims of thi...Published: 27 Mar 2016 at 10:01hrs | | by Kuda Bwititi
FBC to bankroll housing Bulawayo projects
FBC Holdings Limited is targeting to reduce the level of its non-performing loans to less than five percent by December 2016 in order to remain profitability.Group chief executive John Mushaya...Published: 17 Mar 2016 at 05:46hrs | | by Staff reporter
State of the Nation Statement by Dr Dumiso Dabengwa
ZAPU Conference, Bulawayo Amphitheater, 17 December 2015 Invited guestsLeaders from our structuresParty membersLadies and Gentlemen...Published: 22 Dec 2015 at 07:32hrs | 4 | by Dr Dumiso Dabengwa
ZAMCO acquires $242m bad loans
The Zimbabwe Asset Management Company has to date acquired $242 million worth of non-performing loans, the Reserve Bank has said. Central bank Governor Dr John Mangudya said in an interview th...Published: 03 Dec 2015 at 05:13hrs | | by Golden Sibanda
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
Don't attach debtors' property, RBZ tells banks
RBZ Governor John Mangudya says banks must not attach defaulting debtors' properties, but restructure bad debts instead. This comes on the back of a wave of property auctions and seizures ...Published: 12 Mar 2015 at 07:58hrs | | by Staff reporter
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