Banking

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Indigenisation policy: sharing the crumbs of a cup cake

By Lance MambondianiBanking, Companies, Politics

WHEN it comes to populist policies such as indigenisation, you cannot question the craftsmanship and frothing passion of its most avid political proponents. It’s a zero sum game; foreign shareholders and the private sector have been bullied and marched into … Read more

925 Comments

Kereke should check in with his shrinks

By Gilbert NyambabvuBanking, Legal, Politics
kereke

MUNYARADZI Kereke, the former central bank adviser, must think Zimbabweans are mental dunces who are enamoured of his brilliant self that we will let him treat us with the selfish disregard of a lover who tantalises you with the preliminaries … Read more

1,175 Comments

New bank capital requirements: a red herring

By Lance MambondianiBanking, Companies, Money
gideon-gono-01082012-ss

IN THE recent Mid-Term Monetary policy statement, the central bank has proposed a 10-fold increase in bank capital adequacy requirements (CAR) to US$100 billion. Whilst the chronic fragility within the Zimbabwean banking sector requires urgent redress, the proposed adjustments are … Read more

1,790 Comments

Gono-Kasukuwere spat clouding policy

By Psychology MaziwisaBanking, Companies, Politics
kasukuwere-20072011

THERE are very few people in Zimbabwean public life with finer qualities than Reserve Bank Governor Gideon Gono. I truly believe that Zimbabwe can only stand to benefit from his talents, wisdom and many years of experience both as Governor … Read more

1,245 Comments

Interfin’s dodgy dealings came back to bite

By Gilbert MupondaBanking, Companies

MEDIA reports on the fall of Interfin Bank – particularly by the NewsDay newspaper – have sought to divert attention from the systematic looting spree at the bank and try to apportion some blame elsewhere. According to the  Reserve Bank … Read more

3,223 Comments

Interfin: Want to rob a bank? Own one!

By Lance MambondianiBanking, Companies, Personal Finance

THE closure of Interfin and Genesis Investment Bank in the last couple of weeks makes for grim reading. The collapse of the two private indigenous banks due to recurring liquidity challenges raises serious questions regarding the fragility of the Zimbabwean … Read more

1,149 Comments

The risk of indigenising banks

By Lance MambondianiBanking, Companies, Money, Stock Market
barclays

A YEAR ago, David Brown – the head of Impala Platinum – believed Zimbabwe’s indigenisation plans for foreign-owned mines “would not happen”. The policy, which required all companies with a share capital above US$500,000 to arrange for 51 percent of … Read more

2,425 Comments

‘Under-the-mattress’ banking cause of liquidity crisis

By Lance MambondianiBanking

ZIMBABWE is again enduring a liquidity crisis, this time of the mighty US dollar. In an attempt to deal with the crisis, regulatory authorities introduced, then rescinded a cash withdrawal limit policy and forced banks to repatriate 75 percent of … Read more

1,176 Comments