Search / Micro-finance
Harare man up for US$42,000 theft
Morgan Muwodzeri, a 54-year-old resident, appeared before Harare magistrate Patricia Kamwana last week, facing multiple theft charges involving a total of US$42,900. Muwodzeri was released on US$250 b...Published: 16 Sep 2024 at 08:17hrs | 506 | by Staff reporter
Mnangagwa tightens his grip on levers of Zimbabwe's Treasury
WITH his close business ally John Muyashavanhu now confirmed as the incoming Reserve Bank of Zimbabwe (RBZ) governor, George Guvamatanga as Finance permanent secretary — chief accounting officer of ...Published: 12 Dec 2023 at 17:58hrs | 2 | by Staff reporter
Munyeza, wife Wilma spared jail in race to repay US$100,000 loan
Embattled businessman Shingi Munyeza and his wife, Wilma, were spared jail by the High Court last Friday after a former neighbour they owe US$100,000 filed an application to have them committed to pri...Published: 20 Nov 2023 at 22:08hrs | 1 | by Staff reporter
Edgars sidelines Matebeleland executives
Two executive directors at the clothing maker and retailer Edgars Stores have tendered their resignations, effective today, as part of sweeping changes initiated by the new majority shareholder, Mauri...Published: 31 Oct 2023 at 05:51hrs | 2 | by Staff reporter
Zimbabwe on alert for measles outbreak
Cabinet received an update on the Country‘s Response to the Covid-19 pandemic, and a report on the procurement and roll-out of vaccines, as presented by the Chairman of the National Covid-19 Inter-M...Published: 24 Aug 2022 at 06:36hrs | | by Staff reporter
Zimbabwe's central bank clarifies lending directive
The central bank says the suspension of lending by banks to government and private institutions announced by President Emmerson Mnangagwa at the weekend will include micro-financial institutions....Published: 11 May 2022 at 09:13hrs | 2 | 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
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
RBZ establishes collateral registry
THE Reserve Bank of Zimbabwe (RBZ) is working with BSystems Limited of Ghana to operationalise the collateral registry system by year end, after the apex bank awarded the company the tender for the da...Published: 24 Aug 2021 at 06:27hrs | | 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
Zimbabwe inflation to fall below 55%, says RBZ
THE Reserve Bank of Zimbabwe (RBZ) says it is targeting a slide in the annual inflation to below 55% by July this year, underpinned by its disinflationary strategy that has been credited for calming m...Published: 06 May 2021 at 05:47hrs | | by Staff reporter
RBZ approves $500 million MSMEs facility
THE Reserve Bank of Zimbabwe (RBZ) has approved a $500 million facility for micro, small and medium enterprises (MSMES) to stimulate economic growth.In a statement yesterday, the RBZ said the ...Published: 05 May 2021 at 07:18hrs | | by Staff reporter
Micro-finance credit rises 26,4%
CREDIT from micro-finance institutions in the second quarter of 2019 increased by 26,4% to $316,3 million from the previous quarter's $250,1 million due to an increase in productive loans.A Zi...Published: 29 Aug 2019 at 07:40hrs | | by Staff reporter
Justice ministry, Zacc probe Chivi messenger
JUSTICE minister Ziyambi Ziyambi has roped in the Zimbabwe Anti-Corruption Commission (Zacc) to investigate Chivi Messenger of Court Albert Chamwadoro, who is facing fraud allegations.Chamwado...Published: 26 Jul 2019 at 08:28hrs | | by Staff reporter
Is there any need for Zimbabwean banks to be technologically updated?
If a bank is stuck in last century thinking with last century leadership such cultural strategy will lead to eventual failure.I was in a hotel for lunch with a friend, when he asked me: "What ...Published: 03 Jul 2019 at 10:24hrs | | by Elvis Dvene
Is there any need for Zimbabwean banks to be technologically updated?
If a bank is stuck in last century thinking with last century leadership such cultural strategy will lead to eventual failure.I was in a hotel for lunch with a friend, when he asked me: "What ...Published: 03 Jul 2019 at 07:51hrs | | by Elvis Dvene
Edcon to sell Edgars Zimbabwe
South African retail giant, Edcon, is selling its shareholding in local clothing chain Edgars Zimbabwe, as the struggling group realigns operations to stay afloat.News of a possible collapse o...Published: 29 May 2019 at 07:56hrs | | by Staff reporter
RBZ grants 26 firms bureaux de change licences
THE Reserve Bank of Zimbabwe (RBZ) has issued licences to 26 institutions to operate as Bureaux de Change.In a notice, the RBZ said this is line with foreign exchange guidelines in the 2019 Mo...Published: 01 Apr 2019 at 21:38hrs | | by Staff reporter
Parly adjourns
PARLIAMENT has adjourned for more than a month, but portfolio committees will be sitting, while plenary sessions are on recess. The National Assembly adjourned last week on Thursday, while Sen...Published: 28 Mar 2019 at 23:33hrs | | by Staff reporter
Government values women through empowerment
As the world celebrates International Women's Day on 8 March 2019, it is imperative to note that the Government of Zimbabwe has been playing a critical role in empowering its women from all the differ...Published: 07 Mar 2019 at 22:23hrs | | by Chido Chikuni
New structure for Zimbabwe public service
The Public Service Commission is examining the roles, functions and mandates of Government ministries and departments as part of a process to come up with a new civil service structure.Governm...Published: 04 Nov 2018 at 08:44hrs | | by Staff reporter
Mnangagwa has unveiled beacons of hope
The Second Republic under President Emmerson Mnangagwa has unveiled beacons of hope which, if not sabotaged by indolent or mischievous workers put in office by God to help rule this country, will go a...Published: 22 Sep 2018 at 09:26hrs | | by Stephen Mpofu
RBZ registers 19 new micro-finance firms
THE Reserve Bank of Zimbabwe (RBZ) registered 19 new micro-finance institutions between January and June this year, bringing the total number of licensed operators to 194. "This brings the num...Published: 14 Sep 2018 at 06:06hrs | | by Staff reporter
Chicken Inn get boost
CHICKEN Inn yesterday received a major boost to their season after three companies came on board to sponsor the team, as the former champions seek to mount a late surge and overtake the pacesetters in...Published: 09 Aug 2018 at 07:42hrs | | by Staff reporter
Chiwenga scolds Kasukuwere
VICE President Constantino Chiwenga on Monday fired shots at former Minister and Zanu-PF national commissar Saviour Kasukuwere for allegedly being dishonest and corrupt.While addressing Zanu-P...Published: 24 Jul 2018 at 10:09hrs | | by Staff reporter
7 months and a new reality
Yesterday I saw the new advertisement for the president's campaign on his Facebook page. I must admit it gave me goosebumps. I know, I know, that is what is supposed to do, but I can't help but feel t...Published: 10 Jul 2018 at 11:20hrs | | by Joice Tsitsi
2 500 open accounts with women’s bank
More than 2 500 women have so far opened accounts with the Zimbabwe Women's Microfinance Bank (ZWMB), which was officially opened by President Mnangagwa last week. Briefing journalists on the ...Published: 07 Jul 2018 at 09:07hrs | 1 | by Staff reporter
Zimbabwe women bank snubs Matebeleland talent
HISTORY was made when the Zimbabwe Women's Microfinance Bank (ZWMB) was unveiled, becoming the first bank in Southern Africa dedicated solely to transform and economically empower women. A look at the...Published: 01 Jul 2018 at 16:47hrs | 2 | by Ndou Paul
'Banks to lead economic recovery'
Government is working with the Reserve Bank of Zimbabwe (RBZ) and other relevant bodies to ensure the country's banking sector is in a position to play key intermediary roles in the recovery of the ec...Published: 26 Jun 2018 at 07:04hrs | | by Staff reporter
The RBZ should be separated from politics
In any democratic country, politics is bound to be less stable from time to time as new leaders are voted in office. If not separated, the instability of politics is extended to the financial sector. ...Published: 22 Jun 2018 at 07:31hrs | 1 | by Tryson G. Dube
Zimbabwe targets $65bn GDP by 2028
Zimbabwe is targeting to reach Gross Domestic Product (GDP) of US$65 billion by 2028 on the back of wholesale improvements in investment.Foreign investor interest in Zimbabwe has also grown ma...Published: 17 Jun 2018 at 10:41hrs | | by Staff reporter
Women's Bank opens Tuesday
The much-awaited women's bank is set to open next Tuesday after the Reserve Bank of Zimbabwe (RBZ) authorised its operations and issued it with a licence, a Cabinet minister said yesterday.Wom...Published: 07 Jun 2018 at 07:04hrs | | by Staff reporter
Women's bank finally licensed
Zimbabwe's Women's Microfinance Bank Limited which had missed several proposed launch deadlines has finally been licensed to conduct deposit-making microfinance business with effect from May 29....Published: 02 Jun 2018 at 15:58hrs | | by Staff reporter
Mnangagwa to reshuffle cabinet after elections
President Emmerson Mnangagwa says he will make wholesome changes to his Cabinet if he wins the forthcoming elections, dropping those not yet aligned to his vision of modernising Zimbabwe.The H...Published: 11 May 2018 at 07:29hrs | | by Staff reporter
Zanu-PF seeks re-engagement
Zanu-PF seeks to return Zimbabwe to the global community and has made international re-engagement a major component of its 2018 general election campaign message.This is in line with President...Published: 09 May 2018 at 15:46hrs | | by Staff reporter
Women make sense with money
A LOCAL organisation says women who take loans from institutions have a high rate of paying back, as such, they are worth supporting financially.Natalie Goredema the director of a local compan...Published: 04 May 2018 at 07:11hrs | | by Robin Muchetu
Ex-teacher sets up $1m quarry plant
Zimbabwe's ancient city of Masvingo is renowned for being home to the historic Great Zimbabwe Monuments, an acclaimed World Heritage Site from which the country's name is derived.Masvingo over...Published: 25 Mar 2018 at 09:04hrs | | by Staff reporter
Mnangagwa comes to teachers' rescue
President Emmerson Mnangagwa will help over 30 000 teachers recover money they were fleeced of by micro-finance firms.Many micro-lenders provide loans to civil servants, mainly teachers, at in...Published: 17 Dec 2017 at 07:06hrs | | by Staff reporter
'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
67% of Zimbabweans shun banks
AN estimated 67 percent of Zimbabweans remain financially excluded as confidence in the financial services sector remains low.In previous years, several people lost their life savings followin...Published: 22 Oct 2017 at 13:46hrs | | by Staff reporter
Econet Wireless has failed many times
IF you do not know Econet then you are from Mars because it is one of the Mobile Network Operators (MNO) that brought the first cellphones in your hands to Zimbabwe.The brand has had an impact...Published: 19 Jul 2017 at 06:44hrs | | by Morris Mpala, MoB Capital Ltd
'Youth empowerment, Govt priority,' says Mugabe
Government is rolling out a cocktail of economic empowerment interventions to facilitate the integration of young people into mainstream economic activities and establish their position as the foundat...Published: 18 Jun 2017 at 09:50hrs | | by Staff reporter
Bona Mugabe 'gets SECOND board appointment in a week'
PRESIDENT Robert Mugabe's daughter, Bona Chikore, has been appointed a board member of the soon-to-be-established Empower Bank, which will be run by the National Indigenisation and Economic Empowermen...Published: 27 May 2017 at 16:46hrs | | 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
Salary equals slavery
A MONTH end pay cheque is equal to a slavery contract. Let's not hide from the truth. And today am not nice at all. If you don't like the sound of it please stop reading right now.If you think...Published: 19 Apr 2017 at 06:40hrs | 35 | by Morris Mpala, MoB Capital Ltd
RBZ ultimatum to building societies
THE Reserve Bank of Zimbabwe (RBZ) has given building societies up to March 31, 2017 to submit detailed plans on housing development projects they intend to embark on between now and next year....Published: 21 Feb 2017 at 06:25hrs | 46 | by Staff reporter
Reserve Bank of Zimbabwe directs banks to lower rates, charges
THE Reserve Bank of Zimbabwe has directed all banking institutions to set lending interest rates at 12 percent or below.The central bank also said banking institutions are required to cap bank...Published: 17 Feb 2017 at 06:12hrs | | by Staff Reporter
Robert Mugabe's SONA address - Fulltext
STATE OF THE NATION ADDRESS BY HIS EXCELLENCY THE PRESIDENT, COMRADE RG MUGABE, TUESDAY 6TH DECEMBER 2016.Madame Presi...Published: 07 Dec 2016 at 04:54hrs | 3 | by Roberg G Mugabe
Mnangagwa ally slams Mugabe's nephew for 'scaring away' investors
A PARLIAMENTARY portfolio committee has slammed Youth Development, Indigenisation and Economic Empowerment Minister Patrick Zhuwao for adopting a militant attitude towards potential investors, acc...Published: 08 Nov 2016 at 05:58hrs | | by Staff reporter
Clever policeman uses fake documents to secure $1,500 loans
A 27-year-old police officer attached to the ZRP Protection Unit Tomlinson Depot allegedly used fake documents to obtain about $1 500 in loans from a micro-finance company at its different branche...Published: 31 Oct 2016 at 06:09hrs | | by Staff reporter
Load More Stories
