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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
Stanbic named best ovderall bank 2024
Harare, 17 December 2024 - Stanbic Bank Zimbabwe has been named the overall best performing bank at the Banks and Banking Survey Awards 2024 sponsored by First Capital Bank. Stanbic Bank has n...Published: 17 Dec 2024 at 09:15hrs | 320 | by Agencies
Zimbabwe's banking sector sees surge in US dollar deposits
Zimbabwe's banking sector has experienced a remarkable increase in confidence, with foreign currency deposits rising by 13% to US$2.64 billion in October 2024, compared to the same period in 2023. Thi...Published: 14 Dec 2024 at 12:35hrs | 2125 | by Staff reporter
'Counterfeits, financial instability imperil manufacturing sector'
Zimbabwean consumers are grappling with increasing difficulties, including the proliferation of counterfeit goods and financial instability, as the country's manufacturing sector struggles to grow. Pa...Published: 13 Dec 2024 at 09:39hrs | 46 | by Staff reporter
RBZ deputy governor says Zimbabwe banking sector is resilient, stable
Reserve Bank of Zimbabwe (RBZ) Deputy Governor, Innocent Matshe, has highlighted the continued resilience and stability of the country's banking sector, despite facing challenges such as liquidity iss...Published: 13 Dec 2024 at 09:36hrs | 81 | by Staff reporter
Police seek public help to track armed robbery gang in Bulawayo
Police in Bulawayo are appealing to the public for assistance in identifying and apprehending a gang of 10 armed robbers who carried out a daring heist at United Refineries in the Kelvin Industrial Ar...Published: 12 Dec 2024 at 06:46hrs | 297 | by Staff reporter
4 banks quit in South Africa in 2024
BNP Paribas, HSBC, Sasfin Bank, and Bidvest Bank have all announced massive changes to their South African operations in 2024.French-based BNP Paribas was the first bank of the four to announc...Published: 09 Dec 2024 at 15:19hrs | 777 | by Staff reporter
South Africa running out of money at an alarming rate
Efficient Group chief economist Dawie Roodt has warned that South Africa is heading for a financial crisis due to its growing debt burden.Speaking to State of the Nation's Mark Sham, Roodt sai...Published: 09 Dec 2024 at 15:15hrs | 724 | by Staff reporter
Bulawayo raises over US$21 million for Glassblock dam construction
Bulawayo City Council has successfully raised over US$21 million toward the construction of the Glassblock Bopoma Dam, a critical infrastructure project aimed at addressing the city's water crisis and...Published: 08 Dec 2024 at 10:09hrs | 2636 | by Staff reporter
London declining as financial center
The number of companies listed on the London Stock Exchange (LSE) is decreasing at the quickest pace in more than ten years, Bloomberg has reported, citing data compiled by the outlet.In 2024,...Published: 06 Dec 2024 at 14:20hrs | 278 | by Staff reporter
Bulawayo armed robbery gang arrested
A gang of three suspected armed robbers has been arrested in Bulawayo following a string of violent home invasions.The suspects, Mkhaliphi Ncube alias Mlonitshwa (25) of Cowdray Park, and Give...Published: 06 Dec 2024 at 06:27hrs | 369 | 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 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
Zimbabwe's central bank claims success in stabilising rate and inflation
The Reserve Bank of Zimbabwe (RBZ) has announced significant progress in stabilising the country's exchange rate and inflation following a series of monetary policy interventions, including a cumulati...Published: 04 Dec 2024 at 14:23hrs | 291 | by Staff reporter
Zimbabwe targets 1 million houses by 2025
Zimbabwe is on track to achieve an ambitious target of one million houses by 2025, as part of the Second Republic's commitment to ensuring decent shelter for all citizens. This milestone comes after t...Published: 04 Dec 2024 at 06:36hrs | 78 | by Staff reporter
'Banks refuse to make salary payments on behalf of Zimbabwe govt'
A dramatic financial crisis has hit Zimbabwe's civil service as banks have reportedly withheld payments for thousands of public sector workers' salaries, citing the government's inability to meet its ...Published: 03 Dec 2024 at 09:58hrs | 12939 | by Staff reporter
Mnangagwa's govt faces lawsuit over delayed salaries
Government workers, including teachers, have turned to lawyers in an attempt to understand why they have not received the local currency component of their November pay and bonus, almost two weeks aft...Published: 02 Dec 2024 at 07:23hrs | 1065 | by Staff reporter
Police smash armed robbery syndicate in Bulawayo
In a significant breakthrough, Zimbabwean police have dismantled a seven-member armed robbery syndicate that had been terrorizing residents of Bulawayo. The arrests come amid heightened efforts to cur...Published: 02 Dec 2024 at 07:18hrs | 829 | by Staff reporter
The 'torn' money-buying brigade: A hustle for survival in Zimbabwe
For many in Zimbabwe, especially those navigating the streets of Harare, torn or worn-out money has become more than just a nuisance - it's an opportunity for survival. One such individual, 30-year-ol...Published: 27 Nov 2024 at 07:05hrs | 367 | by Staff reporter
Surge in US$ cash transactions triggers spike in armed robberies in Zimbabwe
Zimbabwe is experiencing an alarming rise in armed robberies, with the increasing use of US dollar cash transactions making businesses, banks, and individuals prime targets for criminals. Violent atta...Published: 27 Nov 2024 at 06:50hrs | 211 | by Staff reporter
885 import permits granted to ensure food security in Zimbabwe
The Zimbabwean Government has issued 885 import permits to 423 private companies to address food security challenges caused by this year's severe drought. The move aims to bolster the private sector's...Published: 27 Nov 2024 at 06:43hrs | 146 | by Staff reporter
Top private school put under corporate rescue
Top private school, Knowstics Academy, has been placed under corporate rescue as part of efforts to revive its operations and restore its reputation in Zimbabwe's competitive education sector....Published: 26 Nov 2024 at 08:16hrs | 737 | by Staff reporter
Hackers target African govt departments, financial institutions
Cyberattacks targeting African governments have soared in 2023, doubling to a record 29%, according to a report by Positive Technologies, a cybersecurity firm specializing in data-driven security solu...Published: 26 Nov 2024 at 08:11hrs | 201 | by Staff reporter
Chinese debt threatens to switch off Zimbabwe's Hwange
Zimbabwe's industrial sector is on edge this week as concerns grow over the future of the Hwange Thermal Power Station, a critical asset for the country's beleaguered power grid. With power utility Ze...Published: 24 Nov 2024 at 10:14hrs | 11678 | by Staff reporter
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
Mnangagwa caps wife at MSU graduation
President Emmerson Mnangagwa proudly capped his wife, Auxillia Mnangagwa, who graduated with a Doctor of Philosophy (PhD) degree in Tourism and Hospitality Management at the Midlands State University ...Published: 22 Nov 2024 at 07:07hrs | 196 | by Staff reporter
Chief Khumalo bemoans govt neglect of chiefs
Council of Chiefs President, Chief Mtshane Khumalo, has expressed deep concerns over the government's lack of support for the country's traditional leaders, particularly in the performance of their du...Published: 18 Nov 2024 at 16:04hrs | 702 | by Staff reporter
Civil servants start receiving annual bonuses
The Government has commenced the disbursement of annual bonuses to civil servants, fulfilling its promise of a 13th cheque to its workforce. Payments began last Friday, with banks and major supermarke...Published: 18 Nov 2024 at 15:00hrs | 234 | by Staff reporter
Zimbabwe's second-largest city at risk of running dry by year-end
The taps in Zimbabwe's second-biggest city may run dry by the end of this year.Already, residents of Bulawayo have had to cope without piped water for at least five-and-a-half days a week and ...Published: 14 Nov 2024 at 09:55hrs | 439 | by Staff reporter
Afreximbank to inject US$1bn into Zimbabwe economy
The African Export-Import Bank (Afreximbank) has announced a substantial financial commitment of US$1 billion to support Zimbabwe's economic growth, with funds allocated to various sectors in both the...Published: 14 Nov 2024 at 09:21hrs | 188 | by Staff reporter
Chivayo washes hands of Chimombe fraud case
In a shocking case of retribution, a suspected armed robber from Zimbabwe was found with both feet chopped off along the banks of the Limpopo River, where he reportedly targeted smugglers crossing to ...Published: 12 Nov 2024 at 10:57hrs | 260 | by Staff reporter
Julius Malema's EFF implodes
South Africa's radical opposition party, the Economic Freedom Fighters (EFF), appears to be on a downward spiral after another high-profile member defected to ex-President Jacob Zuma's party.D...Published: 09 Nov 2024 at 20:43hrs | 2184 | by Staff reporter
South Africans lost R1 billion to digital banking fraud
Money lost by South Africans to digital banking fraud increased from R735,000 in 2022 to R1.1 billion in 2023 - a 47% increase.This is according to the South African Banking Risk Centre's (Sab...Published: 08 Nov 2024 at 16:33hrs | 631 | by Staff reporter
Zimbabwe's economy to grow 6% in 2025
Zimbabwe's economy is projected to expand by six percent in 2025, bolstered by favorable rainfall conditions that are expected to boost agricultural productivity, Finance, Economic Development, and In...Published: 07 Nov 2024 at 07:00hrs | 286 | by Staff reporter
Hackers gain access to financial information for a large number of South Africans
Attackers claiming to be from N4ughtySec, a cyber extortion gang that took responsibility for an attack on TransUnion in March 2022, have said that they have infiltrated most of South Africa's banks....Published: 03 Nov 2024 at 12:46hrs | 929 | by Staff reporter
Bonuses for civil servants will be paid starting Friday next week
Starting Friday next week, Zimbabwean public sector employees will begin receiving their 2024 annual bonuses, with the first 50 percent instalment to be paid alongside November salaries and the remain...Published: 03 Nov 2024 at 10:05hrs | 1453 | by Staff reporter
South Africa plans to say goodbye to cash?
Despite the surging adoption of contactless payments in South Africa, more than half of the country still relies on cash as their dominant payment method, and the digital divide is slowing the migrati...Published: 29 Oct 2024 at 13:54hrs | 3058 | by Staff reporter
US Ambassador agrees that Zimbabwe was under sanctions
In a recently published op-ed, US Ambassador to Zimbabwe, Pamela M. Tremont, provided clarity on the sanctions imposed on Zimbabwe, emphasizing the limited scope and specific targets of these measures...Published: 25 Oct 2024 at 12:54hrs | 603 | by Ambassador Pamela M. Tremont
Robbers keep targeting Zimbabwe banks
Police have launched a manhunt for four suspected robbers who, armed with machetes and axes, raided a financial institution in the Mumvuri area of Shurugwi early Saturday morning. The gang made off wi...Published: 24 Oct 2024 at 13:12hrs | 1213 | by Staff reporter
Dumping US dollar 'keeps politics out of economic development'
Boosting trade settlements in national currencies between members of the BRICS group is a strategic necessity, Russian President Vladimir Putin has said, adding that a shift from the US dollar would s...Published: 22 Oct 2024 at 15:55hrs | 588 | by Staff reporter
Know your history:- Filabusi Memorial and the Edkins Store killings
Why Visit?: - This historic site remembers one of the earliest European murders of the Matabele Rebellion or First Umvukela of 1896. There seems no doubt that the initial killings occurred on ...Published: 22 Oct 2024 at 15:48hrs | 540 | by Staff reporter
Is Zimbabwe about to create land oligarchs?
The government, through Information minister Jenfran Muswere, has announced a significant shift in land policy, declaring that state land, previously offered to local indigenous people under the "land...Published: 21 Oct 2024 at 11:06hrs | 705 | by Admire Maparadza Dube
The sanctions lie: How Zimbabwe's ruling elite is misleading the nation
As Zimbabwe moves towards the so-called "SADC Anti-Sanctions Day" on the 25th of October, the need arises again to unpack the shameful lies spread by the ruling establishment about these measures....Published: 20 Oct 2024 at 16:57hrs | 531 | by Tendai Ruben Mbofana
Zimbabwe flood victims stranded four years later
Four years after devastating floods ravaged Binga, the government has yet to allocate houses to some of the affected victims, despite repeated promises of assistance. In February 2020, heavy rains cau...Published: 20 Oct 2024 at 14:06hrs | 66 | by Staff reporter
Barak Obama is out of touch about Kamala!
Brother Obama, president (2008-2016) is himself the cause for the decline of support among blacks for the Democratic Party.The entry of former president Barak Obama into the fray on behalf of ...Published: 20 Oct 2024 at 14:03hrs | 173 | by Kenneth Mufuka
BRICs payment system being tested
A new digital payments system, BRICS Pay, debuted for live testing at this week's BRICS Business Forum at the International Trade Center in Moscow.During the trial - on 17 and 18 October - for...Published: 19 Oct 2024 at 15:54hrs | 1751 | by Staff reporter
High passport fees may hinder Zimbabwe's remittance flows
The Zimbabwe Banks and Allied Workers Union (Zibawu) has raised concerns that the country's high passport fees could significantly impede remittance flows by restricting citizens' migration opportunit...Published: 18 Oct 2024 at 12:30hrs | 3919 | by Staff reporter
Billions 'wiped off' Zimbabwe banks
Bankers in Zimbabwe have attributed a significant downturn in revenues to frequent changes in the country's functional currency, as first-half financial statements revealed a staggering loss of billio...Published: 18 Oct 2024 at 12:28hrs | 1433 | by Staff reporter
Zimbabwe needs own cybersecurity statistics
Zimbabwe has recently experienced a troubling rise in cyber attacks affecting almost everyone, with the latest affecting local entities like banks. At a recent Cybersecurity Conference in Harare, Mini...Published: 16 Oct 2024 at 15:39hrs | 139 | by Engineer Jacob Kudzayi Mutisi
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