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Zimbabwe police move to raid Tetrad Bank directors
THE Criminal Investigation Department (CID) Asset Forfeiture Unit has obtained a warrant of search and seizure against Tetrad Investment Bank (TIB) management and directors in a case of fraud and mone...Published: 09 Dec 2022 at 17:53hrs | 1912 | 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 | 528 | by Agencies
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 | 12 | by Staff reporter
Bank seeks Rushwaya's incarceration over $174k debt
Tetrad Investment Bank, which is under provisional judicial management, has petitioned the High Court seeking the incarceration of Kadoma gold miner, Jameson Rushwaya over a $174 000 debt.Thro...Published: 06 Feb 2019 at 08:34hrs | 1988 | by Staff reporter
Tetrad Bank removed from judicial management
Following the placement of Tetrad Investment Bank under provisional judicial management on 29 January 2015 and the subsequent implementation of a scheme of arrangement on 15 November 2017, the Deposit...Published: 07 Dec 2018 at 12:01hrs | 778 | by Ndou Paul
Business couple jailed over bank debt
HARARE businessperson Jameson Rushwaya and his wife Annie were yesterday slapped with an order for civil imprisonment after failing to settle a $174 000 loan with the now-defunct Tetrad Investment Ban...Published: 26 Jul 2018 at 07:33hrs | 1030 | by Staff reporter
BCC recovers only $32 000 of the $1 million from Metbank
THE Bulawayo City Council (BCC) has recovered from the Metbank $32 512 of the $1 million it lost after the financial institutions went under a few years ago.The local authority's finance depar...Published: 10 Jul 2018 at 07:26hrs | | by Staff reporter
Kazembe Kazembe grabs school farm
Youths, Sports, Arts and Recreation minister Kazembe Kazembe has taken control of a 1 350-hectare farm belonging to Blackfordby College of Agriculture, situated approximately 60 kilometres north west ...Published: 25 Apr 2018 at 07:33hrs | | by Staff reporter
Failed banks haunt directors
THE Deposit Protection Corporation says there are sufficient legal instruments to facilitate successful prosecution of directors of failed banks for their roles in causing collapse of the institutions...Published: 19 Nov 2017 at 08:37hrs | 857 | by Staff reporter
Zanu-PF bigwigs, army 'caught in farm invasion'
Zimbabwe's military and several Zanu-PF heavyweights have reportedly "invaded" parts of a farm where one of the leading agricultural training institutes in southern Africa, Blackfordby College of Agri...Published: 13 Jun 2017 at 15:43hrs | | by Staff reporter
Military, Zanu-PF bigwigs invade college farm
THE military and several Zanu-PF bigwigs have invaded one of the best agricultural training institutes in Southern Africa, Blackfordby College of Agriculture, amid concerns that equipment worth thousa...Published: 09 Jun 2017 at 13:35hrs | 1287 | by Staff reporter
DPC increases cover limit
The Deposit Protection Corporation has increased its cover limit by 100 percent from $500 to $1 000 per depositor per member bank. According to the company the new limit is effective from June...Published: 19 Jul 2016 at 08:03hrs | | by Staff reporter
RBZ moves in to tame a cash shortage in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) has moved in to tame a cash shortage that saw some banks running out of money since Friday last week.A snap survey in Bulawayo showed that banks such as the ...Published: 02 Dec 2015 at 05:31hrs | | by Oliver Kazunga
Zimra chief in bank tax scandal
It has emerged that Zimra commissioner-general Gershem Pasi is also a shareholder of Tetrad Holdings, the holding company of Tetrad Investment Bank which has tax arrears of over $1.6million. ...Published: 28 Aug 2015 at 07:11hrs | | by Staff reporter
Judicial managers in the dock
The essence and justification of judicial management as a process to rehabilitate ailing companies is increasingly becoming controversy following the bill that Tetrad Investment bank received from...Published: 17 Aug 2015 at 08:28hrs | | by Staff reporter
Tetrad Bank up for sale
Troubled Tetrad Investment Bank (TIB) is up for sale and interested parties have up to August 21 to submit their bids, transaction advisers BDO Zimbabwe Chartered Accountants said yesterday. ...Published: 14 Aug 2015 at 07:26hrs | 3230 | by Staff reporter
Borrowers lose property as loans bite
A number of companies and individuals are losing their properties which are being auctioned at almost 20 percent of the market value as banks and local authorities have stepped up efforts to recover m...Published: 12 Jul 2015 at 09:26hrs | | by Ngonidzashe Chiutsi
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 | 4529 | by Staff Reporter
Mugabe destined to leave Zimbabwe without currency
PRESIDENT Robert Mugabe (91 next week) appears destined to leave the country whenever he would go without its own local currency amid clear indications by the Reserve Bank of Zimbabwe (RBZ) governor ...Published: 13 Feb 2015 at 14:47hrs | 5628 | by Kudzai Kuwaza
Zimdollars accounts to be compensated
THE Reserve Bank of Zimbabwe is coming up with a formula to calculate how Government can compensate individuals with Zimbabwe dollars locked in accounts after the country adopted the use of multi-curr...Published: 08 Feb 2015 at 11:19hrs | 6988 | by Gabriel Masvora and Ngonidzashe Chiutsi
Another bank faces collapse
TETRAD Investment Bank has been placed under judicial management after the financial institution fell short of funds to run its daily operations.The bank is part of Tetrad Holdings group compr...Published: 03 Feb 2015 at 06:56hrs | | by Staff reporter
Mugabe's economic promises hollow
ALMOST 18 months after Zanu-PF won general elections tainted by rigging allegations, a steep economic decline characterised by, among others, the debilitating liquidity crunch, declining capacity util...Published: 09 Jan 2015 at 12:25hrs | | by Kudzai Kuwaza
'Zimdollar return suicidal,' says RBZ boss
Government should not reintroduce the Zimbabwe dollar as this amounts to economic suicide, central bank boss John Mangudya warned.In his maiden mid-term monetary policy statement presentation ...Published: 29 Aug 2014 at 12:12hrs | | by Taurai Mangudhla
Russians take over Zimbabwean Bank
A Russian investment group Horizon Capital Consortium led by businessman Sergey Pokusaev has acquired a controlling stake in the diversified financial company, Tetrad Holdings Ltd which owns Tetra...Published: 16 May 2014 at 07:44hrs | | by Staff reporter
Belgian group 'zooms in' on Zimbabwe
Belgian-based financial consultancy and investment firm deVere Group (deVere) plans to strengthen its foothold in Zimbabwe after cutting ties with Tetrad Investment Bank. Last week, the group...Published: 23 Jul 2013 at 05:11hrs | 2443 | by Business reporter
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