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Monday, 13 May 2013 12:14
HARARE - A Reserve Bank of Zimbabwe (RBZ) announcement that it will “approve and facilitate” shareholding changes in AfrAsia Kingdom Zimbabwe Limited (AKZL) has raised speculation that Mauritius-based AfrAsia Bank Limited (ABL) could be planning to increase its stake in the...Read More
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Monday, 13 May 2013 10:48
HARARE - The Reserve Bank of Zimbabwe (RBZ) says AfrAsia Kingdom Zimbabwe Limited (AKZL)’s banking unit Kingdom Bank Limited (Kingdom) is in a “sound financial position to continue normal business”. This comes on the back of media reports that Kingdom is...Read More
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Sunday, 12 May 2013 12:05
HARARE - The National Social Security Authority (Nssa) met Reserve Bank of Zimbabwe (RBZ) authorities on Monday to discuss Capital Bank Corporation Limited (CBC)’s recapitalisation initiatives, businessdaily has established. James Matiza, Nssa’s general manager, confirmed the meeting, but refused to divulge...Read More
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Sunday, 12 May 2013 12:03
HARARE - The African Development Bank (AfDB) has granted Zimbabwe a $24,7 million loan to support the country’s capacity building projects. The continental bank yesterday said the grant was targeted at improving public finance and economic management, thereby contributing to macroeconomic...Read More
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Thursday, 09 May 2013 11:44
HARARE - The European Investment Bank has resolved to relaunch development activities with the private sector in Zimbabwe, after years of shunning the southern African country. The relaunch comes at a time the European Union (EU) and Zimbabwe are engaged in...Read More
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Thursday, 09 May 2013 11:29
HARARE - The United States is mum on its Treasury Department’s Office of Foreign Assets Control (Ofac)’s seizure of over $2 million destined to be transferred to Olivine from the PTA Bank. The payment was for the recapitalisation of the oil...Read More
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Wednesday, 01 May 2013 14:33
HARARE - AfrAsia Kingdom Zimbabwe Limited (AKZL) is retrenching part of its staff under a “voluntary separation exercise”, businessdaily has established. The financial services group recently said it was restructuring or streamlining operations as part of strategies to contain costs and...Read More
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Tuesday, 30 April 2013 11:12
HARARE - Embattled Interfin Banking Corporation (IBC) plans to retrench nearly half of its 300 plus workforce as part of efforts to contain costs and streamline operations. The group’s curator, Peter Bailey of KPMG Chartered Accountants, confirmed the development, but could...Read More
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Wednesday, 24 April 2013 10:40
HARARE - Embattled Interfin Banking Corporation (IBC) is courting Russian investors to inject fresh capital in a bid to resuscitate its banking unit — Interfin Bank, businessdaily has established. One of the Interfin’s shareholders confirmed the financial services group — currently...Read More
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Monday, 22 April 2013 10:18
HARARE - A restructuring exercise looms at AfrAsia Kingdom Zimbabwe Limited (AKZL) as the financial services group plans to streamline operations to improve efficiency and contain costs. Sekai Chitemerere, AKZL’s communications head, told businessdaily that the group was “reviewing its business...Read More
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Wednesday, 17 April 2013 15:24
HARARE - Reserve Bank of Zimbabwe (RBZ) and Time Bank have reportedly agreed to an audit, and verification of the institution’s assets, in fulfilment of a handover-takeover process reached in March. The development also comes as the Chris Tande-led bank has...Read More
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Monday, 15 April 2013 11:31
HARARE - Ambitious financial institution NMBZ Holdings is seeking offshore credit lines from international financiers to bolster its chances of meeting the $100 million minimum capital requirements. “Due to the indigenisation regulations, we can no longer have more investors coming in...Read More
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Friday, 12 April 2013 15:19
HARARE - The Zimbabwe units of Barclays and Nedbank have announced projects to boost their presence in Zimbabwe by opening new branches, installing new automated teller machines (ATMs) and developing new, technology-based banking platforms across the country. Barclays Zimbabwe and Nedbank’s...Read More
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Friday, 12 April 2013 14:54
HARARE - A gold dealer has been remanded in custody to April 25 on allegations of murdering Allan Banks and leaving his body to decompose in the boot of his car. A calm looking George Francis Lovell, 31, clad in a...Read More
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Thursday, 04 April 2013 11:27
HARARE - Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono says Zimbabwe is not ready yet to have its own currency. Gono — who affirmed Finance minister Tendai Biti’s position on the reintroduction of the local currency — on Tuesday said...Read More
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