Articles tagged 'bankers association of zimbabwe'

Jinya new BAZ president 1 May 2016 HARARE - MBCA Bank (MBCA)'s, managing director Charity Jinya has been appointed Bankers Association of Zimbabwe (Baz) president deputised by FBC Bank (FBC) boss Webster Rusere. Jinya takes over from Agribank chief executive Sam Malaba whose two-year tenure expired this month. The seasoned b...
Treat investors fairly, Zim urged 13 September 2015 HARARE - The Bankers Association of Zimbabwe (Baz) has warned government to stop prioritising certain investors at the expense of others. Baz president Sam Malaba said the same treatment awarded to Nigerian billionaire Aliko Dangote must be extended to all who wish to invest in Zimbabwe. “T...
BAZ speaks on bad loans 3 September 2014 HARARE - Reserve Bank of Zimbabwe (RBZ)’s move to create a special purpose vehicle that houses $700 million non-performing loans (NPLs) will help ease the liquidity crisis in the country, the Bankers Association of Zimbabwe (Baz) has said. Sam Malaba, the association’s president, said the vehi...
MBCA indigenisation plans on course 22 August 2014 HARARE - MBCA Bank (MBCA) — a unit of South Africa's Nedbank group — says ithopes for a positive outcome on its indigenisation compliance discussions with government, as the financial institution seeks to comply with the country's laws. In a statement accompanying the group's unaudited interim...
Zimbabwe will soon run out of money: Baz 5 August 2014 HARARE - Bankers Association of Zimbabwe (Baz) has warned that Zimbabwe will soon run out of money to sustain imports. Joseph Mverecha, Agribank divisional director, speaking on behalf of Baz president Sam Malaba at the Gweru Agricultural Show business conference last week,  said Zimbabwe's de...
'Zim dollar not coming back' 2 August 2014 MUTARE - The Zimbabwe dollar (Zim Dollar) will not come back into circulation until the public regains trust in the eschewed currency, Bankers Association of Zimbabwe (Baz) president, Sam Malaba said. Malaba told a Confederation of Zimbabwe Industries (CZI) conference yesterday the Reserve Ban...
Econet partners MasterCard in mobile money transfer 31 July 2014 HARARE - Zimbabwe's largest wireless network operator,  Econet has unveiled an international debit card linked to its mobile money transfer facility, Ecocash, in partnership with MasterCard. The move is part of the telecommunications group's escalated efforts to increase financial inclusion th...
Relief for bank depositors 8 July 2014 HARARE - Reserve Bank of Zimbabwe (RBZ) says it will continue monitoring bank charges in an effort to protect depositors and promoting financial inclusion in the economy. John Mangudya, the central bank chief last week told Parliament that RBZ would engage the Bankers Association of Zimbabwe (...
Deposits stagnant at $4bln 4 April 2014 HARARE - Zimbabwe's banking sector deposits stagnated at $4 billion in 2013, indicating tightening liquidity conditions, according to Agribank chief executive Sam Malaba. He said about 80 percent of the deposits remained short term and transitory. “The stagnation… reflects the deteriorating...
Unbanked money on rise 23 March 2014 HARARE - The Bankers Association of Zimbabwe (Baz) has commissioned a study to ascertain the amount of cash circulating outside the formal system, which is estimated to be as much as $7,4 billion. While initial approximates put the figure at around $2 billion, it is believed that the unbanked ...
Foreigners snap up Zim banks 18 March 2014 HARARE - More Zimbabwean banks are increasingly becoming foreign-owned despite government's aggressive indigenisation programme, the Bankers Association of Zimbabwe (Baz) has said. Although President Robert Mugabe's administration has vowed to have the financial sector indigenised, locals lack...
Bank charges hike justifiable: Baz 16 March 2014 HARARE - Zimbabwean financial institutions insist that the recent hike in bank charges is justifiable to meet their operating costs. This comes as banks recently increased levies by at least 50 percent — following expiry of an agreement with the central bank barring them to — resulting in a de...
Parly raps bank charges hike 12 March 2014 HARARE - Parliament on Monday grilled bankers over increased bank charges following the expiry of an agreement putting a cap on interest rates and fees banks could levy. Legislators accused local financial institutions of pushing the majority of depositors out of the banking sector through exo...
RBZ reforms: Banks to lose $73m revenue 10 November 2013 HARARE - Zimbabwean banks are set to lose over $70 million in income in the nine months to December 2013 following a raft of reforms imposed by the Central Bank, according to the Bankers Association of Zimbabwe (Baz). In January this year, the Reserve Bank of Zimbabwe (RBZ) signed a memorandum...
Capitalise RBZ: Bankers 4 November 2013 HARARE - Government must prioritise the recapitalisation of the Reserve Bank of Zimbabwe (RBZ) in the forthcoming 2014 National Budget to help ease liquidity challenges in the country, the Bankers Association of Zimbabwe (BAZ) said. In its contribution to Parliament's budget consultations last...
Banks allay panic withdrawal fears 15 August 2013 HARARE - Zimbabwean banks have “played down” the run on deposits that happened following President Robert Mugabe's election victory. The Bankers Association of Zimbabwe (Baz) — financial institutions' umbrella body — yesterday told businessdaily that banks were conducting business “as usual”. ...
Bankers defend charges 31 August 2012 VICTORIA FALLS - Bankers Association of Zimbabwe (Baz) president George Guvamatanga has defended the prevailing bank charges saying they were a mere symptom of the operational challenges in the country. This comes after Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono recently said government ...