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Zimbabwe: $180m lent to banks in deficit through Afreximbank facility
The Reserve Bank of Zimbabwe (RBZ) has revealed that $180 million (€160 million) has been lent to banks through a $200 million inter-bank facility designed to support financial institutions in...
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Zimbabwe: New bank to offer affordable housing loans
A new bank dedicated to housing finance has been granted an operating licence from the Reserve Bank of Zimbabwe (RBZ).The National Social Security Authority (NSSA)'s building society, called the...
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Bank savings up 8 per cent in Zimbabwe
Bank savings grew eight per cent in Zimbabwe during the first ten month of 2015, according to new figures from the country's central bank.They reached $2,57 billion (€2.35 billion) between January and...
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Zimbabwe: Central bank urges microfinance institutions to focus on rural areas
Microfinance institutions (MFIs) "have lost their way", the deputy governor of the Reserve Bank of Zimbabwe (RBZ) told executives at a meeting of the Zimbabwe Association of Microfinance Institutions...
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Zimbabwe: Moneygram and Econet launch new remittance service
Mobile operator Econet Wireless and money transfer company MoneyGram have signed a partnership to launch a new remittance service in Zimbabwe.The Zimbabwean Diaspora can now transfer funds back to...
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Zimbabwean banks increase ATM service charges
Zimbabwean banks have announced a 300 per cent rise in automated teller machines' (ATM's) service charges for withdrawals in a bid to finance the maintenance of ATM infrastructure.Banks have started...
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Zimbabwean banks set aside $1bn to finance farmers
Zimbabwean banks have set aside nearly $1 billion to support farmers' access to finance over the 2015-16 agricultural season, as part of a governmental scheme.The president of the Bankers Association...
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Zimbabwe: $21mn fund for agriculture development "sitting" in banks' coffers,...
Zimbabwe banks have been accused of "sitting" on a $21 million (€19 million) fund destined to finance small farmers by the chief executive of the Zimbabwe Agriculture Development Trust (ZADT).According...
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Zimbabwe: Mobile Money transfers down 7.7%
Mobile money transfers were down in the first three month of 2015 compared to the previous quarter in Zimbabwe, new statistics from the Postal and Telecommunications Regulatory Authority of Zimbabwe...
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Zimbabwe: MFI lending rises despite tight liquidity environment
Microfinance Institutions' (MFIs') lending slightly increased during the first three months of the year despite the tight liquidity environment, according to the Reserve Bank of Zimbabwe (RBZ)."The...
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Zimbabwe: New bank account targets the unbanked
A Zimbabwean bank has introduced a new bank account aimed at boosting access to financial services to the unbanked.In a statement, head of marketing at MBCA Bank Dedrey Mutimutema said: "We have now...
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Zimbabwe: Banking sector safe after MetBank increased capital requirements,...
The governor of the Reserve Bank of Zimbabwe (RBZ) John Mangudya said that MetBank's core capital position had increased to $31 million (€28.2 million) as of March 31 2015, above the minimum core...
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Zimbabwe: Loan impairments on the rise, says RBZ
Fresh data from the Reserve Bank of Zimbabwe (RBZ) has revealed a rise in loan impairments, as the country's economy remains sluggish.Loan repayments remain a challenge, and this has fuelled fears that...
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Zimbabwe: Paperless transactions reach $1.3 billion
Paperless transactions through mobile devices and the internet reached $1.3 billion (€1.2 billion) in the first quarter of the year, according to statistics from the Reserve Bank of Zimbabwe.This...
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Zimbabwe: CBZ raises $100m bond to boost lending
CBZ Bank has raised around $100 million (€88.5 million) through a bond to boost lending to productive sectors and small and medium-sized enterprises, executive Never Nyemudzo has said.The sum is part...
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Zimbabwe: AfDB urges banks to lend to manufacturing sector
Zimbabwe should implement policies that ensure access to credit to support the performance of the manufacturing sector that has recently been showing signs of improvement, the African Development Bank...
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Zimbabwe: Mobile money transfers up 80 per cent
The volume of money transfers through mobile phones in Zimbabwe increased by 80 per cent last year. It now adds up to $1.4 billion (€1.3 billion), an amount likely to keep rising. Over the last quarter...
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Zimbabwe: MBCA Bank secures $20m line of credit to enhance businesses'...
MBCA Bank, a unit of South Africa's Nedbank, has concluded a $20 million (€17.9 million) line of credit with Afreximbank to support businesses' capital expenditure and enhance their productivity.MBCA...
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Zimbabwe: NMB Bank delays tender for bond issue
NMB Bank has not floated another tender for its two-year $50 million mortgage-backed Small to Medium Enterprises bond issue, managing director Ben Washaya has said.He told The Herald Business the bank...
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Zimbabwe's central bank cancels Allied Bank's operating licence
The Reserve Bank of Zimbabwe announced on Thursday (January 8th) that it has cancelled Allied Bank's operating licence and is to apply for its liquidation. The cancellation follows a voluntary...
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