CBZ Holdings, the biggest bank in Zimbabwe, plans to list on the U.S. dollar-denominated Victoria Falls Stock Exchange (VFEX), as part of efforts to ignite foreign interest in the lender. The firm is “actively...
China’s UnionPay International on Wednesday added Steward Bank to its network of partners, expanding its footprint in Zimbabwe, where it has already signed up two other financial institutions. The use of international cards in...
Zimbabwe’s largest bank says the U.S Treasury Department has cleared it of having to pay a US$385 million penalty for processing transactions on behalf of a local lender that was under American sanctions. The Treasury’s Office of Foreign Assets Control...
Finance Minister Mthuli Ncube says he will propose a ZWL$900 billion budget for 2022, more than double this year’s total, as the country struggles with surging inflation. In July, Ncube had signalled plans for...
Zimbabwe will use more than half of the US$961 million it has been allocated by the International Monetary Fund in the form of special drawing rights to support its beleaguered currency. The government abandoned...
Deutsche Bank has cut correspondent banking ties with Stanbic Bank, dealing a body-blow to one of the few remaining international banking providers operational in Zimbabwe. Stanbic, the local unit of Standard Bank, is the...
Delta Corporation recorded declines across its beverage lines, with soft drinks being the hardest hit, in a turbulent final quarter of its 2019 financial year. The company has struggled to source foreign currency for...
On Monday, Reserve Bank of Zimbabwe governor John Mangudya appeared before Parliament’s Public Accounts Committee, where he testified that his strategy to assume over $1 billion in bad bank loans had saved the economy from collapse. In...
The European Investment Bank (EIB) has agreed a €15 million fund to support Zimbabwean businesses hit by COVID-19, the first such financing to the country by the bank in over two decades. The fund,...
By John Kachembere Zimbabwe has made strides in curbing illicit financial flows (IFFs), but a more coordinated approach by the country’s many anti-corruption agencies is needed to stop the bleeding, analysts say.
- Advertisement -

Recent Posts