By Almot Maqolo, HARARE, October 20 (The Source) – The Deposit Protection Corporation (DPC) says it is ready to pay out $4.2 million to creditors and depositors of Tetrad Investment Bank.
HARARE, June 27 (The Source) –Two foreignfirms have concluded the acquisition of MicroKing, the micro lending subsidiary of collapsed AfrAsiaBankZimbabwe Limited, parties involved in the deal have said. French company MicroCred Group and Tunisia-based AfricInvest Financial Sector Fund announced in March this year that they… Read More
HARARE, October 8 (The Source) – The Depositors Protection Corporation (DPC), which is overseeing the liquidation of collapsed Interfin Bank, says it is struggling to collect the $168 million worth of loans issued out by the bank before it collapsed and expects to recover only… Read More
By Chipo Musoko, HARARE, June 24 (The Source) – The major shareholder of the collapsed Allied Bank, Trebo & Khays, overvalued and failed to transfer assets pledged as part of the purchase transaction, the bank’s liquidator said on Wednesday. Allied Bank, which formerly traded… Read More
HARARE, June 18 (The Source) – Zimbabwe’s central bank chief John Mangudya says the Deposit Protection Corporation will compensate Zimbabwe dollar accounts that were held by financial institutions that closed post dollarisation as the apex bank moves in to restore confidence in the financial services… Read More
By Chipo Musoko, HARARE, April (The Source) – The Deposit Protection Corporation (DPC) has moved into the collapsed AfrAsia Bank after being granted a provisional liquidation order by the High Court and has started paying out $4,5 million to depositors whose funds were locked in… Read More
By Chipo Musoko, HARARE, October 7 (The Source) – The Deposit Protection Corporation (DPC) is sitting on $14,6 million and is targeting to increase the fund to two percent of total deposits up from the current 0,37 percent to enable it to compensate the majority… Read More