Business »
Saturday, 12 January 2013 10:25
HARARE - A Deloitte & Touche study on the National Social Security Authority (Nssa)’s banks merger plan is expected next Tuesday, officials have said. While the pensions fund’s acting general manager Tendai Mafunda has confirmed the development, Nssa commissioned the study...Read More
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Business »
Thursday, 10 January 2013 12:34
HARARE - Capital Bank Corporation Limited (Capital Bank) has submitted its recapitalisation plan to the Reserve Bank of Zimbabwe (RBZ) after it missed the December 31, 2012 deadline. According to RBZ’s phased recapitalisation requirement, commercial and merchant banks are supposed to...Read More
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Opinion & Analysis »
Thursday, 10 January 2013 12:21
HARARE - The year 2013 promises to be one in which the banking sector must brace for tough reforms that will leave its members with no choice but adopt measures that ensure both them and depositors are protected. When the Reserve...Read More
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Business »
Wednesday, 09 January 2013 12:08
HARARE - Ecobank International (Ecobank)’s newly appointed chief executive Thierry Tanor is expected in the country today. Tanor’s agenda involves mapping the Pan African group’s Zimbabwe unit growth strategy among, other key issues. In 2010, Ecobank — which has operations in...Read More
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Business »
Sunday, 30 December 2012 14:08
HARARE - The Bankers Association of Zimbabwe say government’s proposed fiscal reforms, which will see huge reductions in banking service charges and interest, will wear down industry profitability and compromise recapitalisation. Finance minister Tendai Biti said banks should, starting January 2013,...Read More
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News »
Sunday, 30 December 2012 13:53
HARARE - Police say cases of house breaking are on the increase in Harare, largely due to people keeping huge sums of money in their homes. Tadious Chibanda, the Harare police spokesperson, said such cases have doubled since December 21, with...Read More
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Business »
Friday, 28 December 2012 15:04
HARARE - Zimbabwe Stock Exchange-listed TN Bank Limited (TN Bank) seeks shareholders’ approval to delist from the local bourse at its January 18, 2013 extraordinary general meeting. This comes after telecommunications giant Econet Wireless Zimbabwe (Econet) acquired 100 percent of the...Read More
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Business »
Friday, 28 December 2012 15:04
HARARE - Capital Bank Corporation Ltd (Capital Bank) is planning a $20 million rights issue, as part of efforts to comply with the Reserve Bank of Zimbabwe (RBZ)’s minimum capital requirements. With the Harare-based institution backed by a deep-pocketed shareholder in...Read More
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News »
Sunday, 23 December 2012 12:42
HARARE - Retailers hoping for a last-minute festive season buying frenzy after weeks of flat sales failed to get the tills ringing after a presidential decree declaring Monday a public holiday. Banks closed for business on Friday and will re-open on...Read More
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Opinion & Analysis »
Thursday, 13 December 2012 12:54
HARARE - A hint by Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono that he may consider extending an olive branch to banks, which are struggling to meet his new recapitalisation thresholds is welcome in many ways. His statements, although not...Read More
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Business »
Thursday, 13 December 2012 09:27
HARARE - Tuli Coal (Private) Limited (Tuli) remains in limbo after the Reserve Bank of Zimbabwe (RBZ) frustrated Singaporean billionaire Sukamto Sia’s $40 million bid for the Beitbridge-based mining asset. The Asian investor, who had been introduced to the Zimbabwean market...Read More
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Business »
Monday, 10 December 2012 13:57
HARARE - Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono says he might extend an “olive branch” to struggling financial institutions that fail to meet the December 31, 2012 recapitalisation deadline. Although most banks such as CBZ Bank, FBC Bank and...Read More
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Business »
Monday, 10 December 2012 11:03
HARARE - The African Export and Import Bank (Afreximbank) says it will increase its lending capacity to Zimbabwe to $800 million as part of efforts to enhance economic growth of the southern African country. Jean-Louis Ekra, Afreximbank president, last week said...Read More
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Business »
Friday, 07 December 2012 11:02
HARARE - Zimbabweans must pay back their loans to facilitate viability of the banking sector, Vice president Joice Mujuru has said. The Zanu PF number two not only echoed President Robert Mugabe’s calls for bankers not to abuse depositors’ funds, but...Read More
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News »
Wednesday, 05 December 2012 14:10
HARARE - The battle for control of the Anglican Church continued yesterday with lawyers representing disgraced ex-communicated bishop Nolbert Kunonga seeking to turn the tables against the Church of the Province of Central Africa (CPCA) saying the Anglican Church is approaching...Read More
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