Search results for 'Banks'
Zimbabwe
Zimbabwe Introduces Gold-Backed CBDC: Too Little, Too Late?

In this context, the new gold-backed CBDC may seem a promising initiative to restore stability. The RBZ claims Zimbabwe has enough gold reserves to fully back the new digital currency. By pegging its

Apr 25, 2023
World
GetBucks Microfinance Exhibits Robust Growth in Total Income, yet Faces Challenges in Profitability and Asset Quality

GetBucks Microfinance Bank’s net interest income increased by 62% from ZWL220 million in 2021 to ZWL399 million in 2022. This shows that the bank's lending activities grew significantly during the yea

May 02, 2023
Zimbabwe
First Capital Bank seeks to sweat assets by targeting public service

The promotion is just one of a range of activities that First Capital Bank is offering to unlock value in the new term. In 2022, the Bank invested heavily in revamping its digital platforms, and custo

May 11, 2023
Zimbabwe
Nedbank in Solid Start to 2023

Nedbank warned that risks to its full-year outlook are rising from South Africa’s weakening economy, where growth has been hit by power cuts, weak global demand, and rising rates.

Jun 02, 2023
South Africa
Standard Bank Group Expects Strong Earnings Growth Despite Challenging Economic Environment

Standard Bank Group's banking activities recorded revenue growth in excess of 20% higher than the same period in the previous year, driven by higher-than-expected average interest rates and good balan

Jun 20, 2023
World
State of the Zimbabwean Banking Sector : The Chase to Zero

During the first half of 2023, the banking sector experienced notable changes in various key indicators. One such indicator was the aggregate total loans, which saw a significant increase of 9.76% in

Oct 23, 2023
Companies
Innbucks Microbank Electrifies New Products: Nano Loans, Loyalty Programs, and More

Innbucks Microbank, a prominent microfinance institution, has unveiled its ambitious plans to expand its product offerings and drive growth in the second half of the 2024 financial year. With a strong

Apr 16, 2024
Zimbabwe
Zimswitch Payment Conference Set to Revolutionize the Financial Landscape with Cutting-Edge Insights.

Zabron Chilakalaka, Zimswitch CEO, expressed his enthusiasm, "We are thrilled to present the Zimswitch Payments Conference, which promises to be an enriching and transformative experience for all atte

Jul 17, 2024

Top Stories

Can Caledonia Meet Its Gold Targets by Year-End?

Caledonia Mining Corporation, a leading gold producer, has reported a third-quarter gold production of 18,992 ounces from 21,772 ounces produced in the comparable quarter due to lower grade and reduce

2 hours ago

Delta Posts 11% Revenue Growth, Defying Economic Challenges

DELTA Corporation , the leading beverage manufacture has posted an increase in revenue to $389.1 million for the half year ended September 2024 from US$350.6 last year. This led to a profit after tax

22 hours ago

Rising Reserves, Waning Performance: The Dilemma of Zimbabwe's Currency

The Reserve Bank of Zimbabwe (RBZ) announced that the reserves backing the Zimbabwe Gold (ZiG), the fourth currency introduced in nearly a decade, have surpassed US$500 million, reaching US$509 millio

Nov 12, 2024

Double Trouble for Delta's Beer: Sorghum Struggles at Home, Abroad

Delta Corporation, a blue-chip entity listed on the Zimbabwe Stock Exchange (ZSE), has encountered significant headwinds in its sorghum beer segment, resulting in diminished sales volumes domestically

Nov 11, 2024

A Billion-Dollar Quarter: CBZ’s Q3 Performance

Largest bank by deposits and assets, Commercial Bank of Zimbabwe Holdings (CBZ) has recorded an exceptional Q3 performance ended September 30, characterized by billion-dollar revenues, according to th

Nov 10, 2024

Pathway to Recovery: BAT’s Q3 Under Glance

British American Tobacco (BAT) Zimbabwe, a producer and marketer of premium cigarette brands, is prioritizing cost reduction as a strategic initiative aimed at returning to profitability. The company

Nov 08, 2024

Glimmer of Hope: Zim’s Oct Gold Surge Revives Year-End Target

Zimbabwe's October gold deliveries surged 22% from September and 12% above October 2023, reaching 4,168 kgs. Small-scale miners produced 3,143 kgs, up from 2,404 kgs in September, while large-scale m

Nov 07, 2024

Smoke and Mirrors? ZiG Strengthens for Third Consecutive Day, Takes in 9% Gains

The Zimbabwe Gold (ZWG) currency has exhibited an appreciation on the formal market, recording its third consecutive gain on November 6, 2024. The currency surged 3% from 26.99 to 26.01, translating

Nov 06, 2024