Published: 12 May 2014

Finance Minister Patrick Chinamasa has instructed Agribank to first seek local partners to recapitalise the bank before considering bringing in foreign investors.

Agribank  CE Sam Malaba said the bank had been told to first seek local partners to provide the much needed funds to recapitalise the bank.

Agribank will go to the market seeking to identify investors to inject $50 million to shore up its capital in line with Reserve Bank of Zimbabwe minimum capital thresholds.

Chinamasa is however still expected to approach Cabinet for permission to allow Agribank to seek foreign investors to inject fresh capital into the bank.
- The Herald

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