Foreign Currency constitutes bulk of broad money
By value foreign currency now constitutes the bulk of the broad money in the country’s banking sector, latest statistics from the Reserve Bank of Zimbabwe show. According to the central … Read More
Category: Finance
Toxic risk disinfected from banking sector
The Zimbabwe Asset Management Company (ZAMCO), says it has managed to eliminate potentially hazardous systemic risk from the banking sector after taking over $1,1 billion worth of non-performing loans (NPLs), … Read More
The process of reimbursement
To effectively protect depositors and contribute to financial stability, the Deposit Protection Scheme (DPS) should be able to compensate depositors in the shortest possible time. The International Association of Deposit … Read More
Worn out notes acceptable — US Embassy
BADLY damaged, dirty or even torn United States dollar notes remain valid for all transactions and can be exchanged as legal tender. This comes as some businesses and individuals have … Read More
Minister speaks on forex
Zimbabwe has no shortage of foreign currency, but rather a problem of allocating foreign currency through formal systems, now being addressed by measures that include the auction system, Finance and … Read More
‘Workers, employers ‘connive’ to evade pension contributions’
THE National Social Security Authority (Nssa) has accused workers and employers of “conniving” to avoid pension contributions through non-review of pensionable income in favour of cushion allowances. This has an … Read More
Banks now cleaner and safer, says Zamco
THE Zimbabwe Asset Management Company (Zamco), says it has managed to eliminate potentially hazardous systemic risk from the banking sector after taking over $1,1 billion worth of non-performing loans (NPLs), … Read More
Foreign investors to easily repatriate funds: Government
THE Reserve Bank of Zimbabwe (RBZ) will soon issue a directive to facilitate smooth repatriation of capital and dividends by foreign investors, which will buttress the ease of doing business … Read More
Govt clamps down on forex rate violators
GOVERNMENT has deployed a team to probe shops for malpractices such as failure to stick to the official exchange rate when transacting, a Cabinet Minister has said. The deployment comes … Read More
BancABC launches domestic remittance service
BANCABC Zimbabwe, a local banking subsidiary of the Pan African group, Atlas Mara, has launched a domestic remittance service that will allow clients to send foreign currency between cities across … Read More
