November 18, 2024
HEATED debate, similar to that which occurred during the final days of the Zimbabwe dollar in late 2008, is raging across the country as the nation agonizes over the recently-introduced bond coins. While the Reserve Bank of Zimbabwe (RBZ) claims the bond coins have been embraced by business,…
GOVERNMENT borrowings registered a 57 percent increase in the year to October 2014, as the administration continued to scrounge for cash in a strapped economy, a latest Reserve Bank of Zimbabwe (RBZ) report has said. On a monthly basis, net credit to government increased by 6,34 percent, from…
CONFIDENCE in the banking sector is set to increase in 2015 at the back of various initiatives the Reserve bank of Zimbabwe is considering in a bid to restore stability in the sector, John Mangudya said. Mangudya said the central bank has earmarked 2015 for development and transformation…
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…
BARCLAYS Bank Zimbabwe Limited’s loan book for the half-year to June 30, 2014 has increased due to increased lending to both businesses and individuals. Barclays has insisted that it will not irresponsibly extend loans against the backdrop of increasing non performing loans in the banking sector. “Our loan…
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…
IN an unusual twist to the legal battle between Gideon Gono and his former advisor, Munyaradzi Kereke, the ex-Reserve Bank of Zimbabwe (RBZ) governor has sought reprieve for his accuser to argue his case with the Constitutional Court (ConCourt) after the legislator for Bikita West missed the deadline to file…
Econet Wireless Zimbabwe has distanced itself from an alleged row involving agents for its mobile money transfer, saying the company never had “exclusive contracts” with any of its dealers. Telecel, which recently launched its own mobile cash system, Telecash, to rival that of Econet and NetOne, alleged that Econet’s…