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

A Looming Dark Christmas: Zimbabwe's Power Sector in Shambles

Zimbabwe is likely to face a dark festive season due to persistent power outages. The continued nationwide blackouts and inadequate power generation, which fails to meet demand, support this predicti

Dec 18, 2024

Zimbabwe Achieves Wheat Self-Sufficiency Setting New Record: A Closer Look

Zimbabwe's agricultural sector has achieved a landmark milestone, with the country's wheat harvest reaching an unprecedented 563,961 metric tons (MT) as of the latest update. This is according to the

Dec 18, 2024

Drought Threatens Regional Power Supply: What Lake Cahora Bassa's Water Level Erosion Means for Zimbabwe

Zimbabwe's struggles with power challenges have extended beyond its borders, affecting one of its key electricity import sources. The Cahora Bassa dam in Mozambique's Tete province has reached a crit

Dec 17, 2024

Tanganda Returns to Profitability as Avocado ,Tea Booms

Tanganda Tea, a company listed on the Zimbabwe Stock Exchange (ZSE), has made a remarkable turnaround, recording a profit after tax of USD1.4 million for the year ended 30 September 2024. This is a si

Dec 16, 2024

Zimbabwe's Power Supply Plummets to Lowest Level in Over 12 Months

Zimbabwe's power generation has plummeted to its lowest level in over 12 months, with daily electricity production hitting a dismal 736 MW on December 16. This marks a new low for 2024, surpassing the

Dec 16, 2024

Zimbabwe’s Electricity Import Bill Jumps 45% in Q3

The Zimbabwe National Statistics Agency (Zimstat) has revealed a significant 45% uptick in electricity imports, with the country bringing in 611.1 gigawatt-hours (GWh) during the third quarter of 2024

Dec 16, 2024

Government Seeks Bigger Slice of Mining Pie: Is the 26% Proposed Stake Feasible?

Last week, in an interview with global media outlet Bloomberg, the government hinted at plans to introduce a 26% shareholding in all future mining projects and also negotiate with the already settled

Dec 16, 2024

28 Zimbabwe-Linked Gold Mafia Members Placed on U.S. Sanctions

The United States and United Kingdom have imposed stringent sanctions on individuals implicated in gold smuggling and money laundering operation based in Zimbabwe, effective December 9, 2024.

Dec 10, 2024