Zim widens multi-currency basket

HARARE, January 29 (The Source) – The Reserve Bank of Zimbabwe (RBZ) on Wednesday widened the multi-currency basket to include four more foreign currencies in what analysts see as a way of addressing the cash shortage in the economy. Currencies of China, India, Japan and… Read More

RBZ moves to control interest rates

HARARE, January 28 (The Source) – The Reserve Bank of Zimbabwe (RBZ) on Tuesday announced a new interest rate structure aimed at taming the  country’s high interest rates which are hampering savings. It is estimate that around $2 billion is circulating outside the banking sector… Read More

ABC minorities snub buyout offer

HARARE, January 28 (The Source) – Minority shareholders of financial group, ABC Holdings have snubbed the mandatory buyout offer by major investor ADC Financial Services, with just 17 percent being taken up on the Zimbabwe and Botswana registers, the company said on Tuesday. Just 0.15… Read More

AfrAsia Bank gets new MD, board

HARARE, January 8 (The Source) – AfrAsia Bank Zimbabwe Limited, formerly Kingdom Bank has appointed Tineyi Mawocha as its new managing director with effect from 6 January, the bank said on Wednesday. The appointment comes after Mauritian-headquartered AfrAsia Bank Limited, which now owns a controlling stake of 65.38… Read More

Econet launches mobile payroll system

HARARE, December 11 (The Source) – Mobile service provider, Econet Wireless on Thursday launched a mobile payroll platform that will enable companies to pay salaries through its EcoCash platform. EcoCash chief executive, Cuthbert Tembedza said the service does not attract any charges. It is the latest… Read More