All deposit classes now indexed to treasury bill yields, say Mthuli Ncube

Government has gazetted a statutory instrument which directs that all classes of deposits in the banking system, should be indexed to treasury bill yields as part of efforts to promote fair compensati...

By Staff reporter | Published: 13 March 2020


'Banks should focus on savings deposits'

RESERVE Bank of Zimbabwe (RBZ) deputy governor Jesimen Chipika has urged banks to focus on savings deposits in order to enhance financial support to the productive sectors.Productive sectors of agricu...

By Staff reporter | Published: 18 October 2019


Zimbabwe commercial bank deposits surge 25% to $8 billion

Commercial banks deposits rose by 25% to $8 billion in the first 10 months of last year, data from the central bank has shown.According to the Reserve Bank of Zimbabwe (RBZ)'s monthly review of Octobe...

By Staff reporter | Published: 30 January 2019


Diamond deposits discovered in Mashonaland East

RICH diamond deposits have been discovered in Marondera West, with government saying it would only start mining operations after crafting a new diamond law in August.President Emmerson Mnangagwa confi...

By Staff reporter | Published: 13 June 2018


Govt explores limestone deposits in Zvishavane

Government has started exploration of limestone deposits in Zvishavane which have the potential to generate millions of dollars for the country.Mines and Mining Development Minister Winston Chitando s...

By Staff reporter | Published: 13 June 2018


Govt explores limestone deposits in Zvishavane

THE Ministry of Mines and Mining Development has started exploration of limestone deposits on the outskirts of Zvishavane, which have the potential to generate millions of dollars in revenue for the c...

By Staff reporter | Published: 06 June 2018


Stanbic Bank deposits clock $1.2 billion

STANBIC Bank Zimbabwe has exceeded $1 billion deposits in the financial year ended December 31, 2017.The bank's customers are, however, struggling to settle foreign payments as a result of foreign cur...

By Staff reporter | Published: 03 April 2018


'Bank deposits up'

The number of people making bank deposits has increased significantly in the past three weeks, President Emmerson Mnangagwa has said.The Head of State and Government said a banking culture is importan...

By Staff reporter | Published: 16 January 2018


Bank deposits maintain upward trajectory

Finance Minister Patrick Chinamasa has said the banking sector deposits has maintained an upward trajectory, increasing by 17.1%, from US$6.51 billion as at end December 2016, to US$7.62 billion as at...

By Staff reporter | Published: 07 December 2017


Short-term deposits continue to affect lenders

THE country's broad money supply continues to be dominated by short-term deposits, a factor that constrains the local financial services sector's capacity to lend to critical sectors of the economy on...

By Staff reporter | Published: 16 August 2017


Zim crisis deepens as cash deposits dwindle

COMMERCIAL banks held just $65 million physical cash foreign currency, bond notes and coins at the end of May, central bank data shows, highlighting a mounting cash crisis that has wracked the economy...

By Staff reporter | Published: 27 July 2017


Banking deposits grow

TOTAL banking deposits have marginally improved to $4,82 billion as of March 31, 2014 from $4,73 billion last year, the Reserve Bank of Zimbabwe has said.In a report for the quarter ending March 31, 2...

By Oliver Kazunga | Published: 02 July 2014


Rich gold deposits discovered in Nyanga

New rich gold deposits were recently discovered by artisanal miners in Nyanga. Mines commissioner for Manicaland Province Mr Agripa Chimusasa said in an interview last week that the discovery of new ...

By Staff reporter | Published: 26 May 2014


Zim prospects for new mineral deposits

Zimbabwe is exploring for new mineral deposits as the hard pressed government seeks to raise cash from the country's vast resources. Mines minister Walter Chidhakwa said new deposits would be used for...

By Staff reporter | Published: 08 May 2014


Lending, deposit rates gap widening

THE disparity between lending and deposit rates in Zimbabwe is widening, dampening the already weak savings culture in the country and its economic recovery, the African Development Bank (AfDB) said.I...

By Staff reporter | Published: 17 April 2014


EcoCash pushes Steward Bank deposits by $20m

ECONET Wireless Zimbabwe's electronic banking product, EcoCash Save, has bolstered the deposit base of its commercial banking sibling, Steward Bank, a senior executive said. Steward Bank chief executi...

By Staff reporter | Published: 10 April 2014


Zim bank deposits stagnant at $4 billion

Zimbabwe's banking sector deposits stagnated at $4 billion in 2013, indicating tightening liquidity conditions, according to Agribank chief executive Sam Malaba.He said about 80 percent of the deposit...

By Staff reporter | Published: 04 April 2014


Deposit Protection struggles to pay depositors

The Deposit Protection Corporation (DPC) has managed to reimburse only 1 606 depositors out of 8 496, whose accounts were closed when three banks were shutdown.DPC chief executive officer John Chikura...

By Staff reporter | Published: 25 March 2014


Local firm evaluates pyrites deposits in Mazowe

GAT Investments, a local company with interest in mining is evaluating the potential of extracting new pyrites deposits in Mazowe, about 40 kilometres north of Harare. Pyrites are mostly used in the p...

By Staff reporter | Published: 21 February 2014


Bank deposits marginally rise

The total banking deposits closed 2013 at $4,7 billion while loans and advances were at $3,7 billion, the central bank said yesterday. As at May 2013, total deposits stood at $3,7 billion down from $4...

By Staff reporter | Published: 30 January 2014


Panic withdrawals reduce bank deposits

According to the RBZ November Monthly economic review broad money recorded an annual decline of 0.46% in November 2013, compared to a growth of 3.16% recorded in October 2013.On a month-on-month basis...

By Staff reporter | Published: 24 January 2014


New diamond deposits found in Zimbabwe

MUTARE-based miner DTZ-OZGEO (Pvt) Limited (DTZ-OZGEO) says it has found conglomerate deposits capable of producing 2,5 million carats of top quality diamonds in the province's Chimanimani area.The co...

By Staff reporter | Published: 13 December 2013


Zimbabwe urged to explore new mineral deposits

GOVERNMENT and the private sector need to work together to promote the exploration of new mineral deposits, the Chamber of Mines of Zimbabwe has said. CoMZ chief executive Mr John Chikombero said disc...

By Staff reporter | Published: 17 October 2013


Zim bank deposits decline after elections

ZIMBABWE'S formal banking system lost in excess of $50 million in deposits in the month of August as the market responded to President Robert Mugabe's July 31 elections victory signalling the end of ...

By Staff reporter | Published: 11 October 2013


Banks to reduce charges on deposits

Banks have resolved to reduce charges on deposits in line with a Reserve Bank of Zimbabwe directive to increase savings in the economy, several half-year financial statements have revealed.This comes ...

By Business reporter | Published: 12 August 2013

Latest News

Latest Published Reports

Latest jobs