November 18, 2024
We recently reported that bond coins were facing resistance in some sections of society, with commuter omnibus operators in particular refusing to accept them as a medium of exchange. This is tragic indeed. While major retailers, who have in excess of over 200 outlets countrywide, have embraced bond…
ZIMBABWE has begun formal talks with the African Export-Import Bank (Afreximbank) to secure funding to acquire the banking sector’s non-performing loans (NPLs). Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, revealed this to the Financial Gazette on the sidelines of a recent Institute of Chartered Accountants of Zimbabwe…
THE 2015 national budget presented by Minister of Finance Patrick Chinamasa failed to address issues surrounding financial sector stability. The fragility of the banking sector had affected domestic savings over the years, and hence it was important for Chinamasa to come up with new measures to stimulate savings…
AT least US$48 million was lost in the banking sector last year after profitability slumped in response to an interest rate deal signed between the Reserve Bank of Zimbabwe (RBZ) and financial institutions, binding both parties to a moratorium on rates hikes. The memorandum of understanding signed in…
INDUSTRIALISTS and bankers this week welcomed the appointment of CBZ Holdings chief executive officer, John Mangudya, as the Reserve Bank of Zimbabwe (RBZ) governor although critics said the challenges facing the country’s fragile economy would present the new central bank chief with the biggest test of his career. They said…
THE appointment John Mangudya at the helm of the apex bank is a welcome development in the financial sector given his wealth of experience in the sector. (more…)
…
CBZ Holdings is targeting to unlock value for its stakeholders through mortgage finance as it opens long term value in its land inventory. The country’s largest bank by assets said it would develop its US$66,7 million land bank where low cost housing would be constructed. Group chief executive officer,…