FINANCIAL SERVICES

Mukuru projects 500% surge in MukuruPay usage

Financial services provider Mukuru is projecting a 500 percent increase in the use of its MukuruPay platform during the 2025 tobacco selling season, driven by strategic partnerships within the tobacco...

By Staff reporter | Published: 06 July 2025

FINANCIAL SERVICES

First Mutual Life assures policyholders

First Mutual Life Assurance Company (FML) says it is continuing to engage with the Insurance and Pensions Commission (IPEC) to bring closure to matters arising from a forensic audit conducted in 2022....

By Staff reporter | Published: 05 July 2025

FINANCIAL SERVICES

AfDB flags Zimbabwe's annual financing gap

Zimbabwe will require more than US$3.7 billion annually to meet its Sustainable Development Goals (SDGs) by 2030, according to a new economic outlook report released by the African Development Bank (A...

By Staff reporter | Published: 03 July 2025

FINANCIAL SERVICES

Stanbic Bank Zimbabwe, MSU unveils scholarship programme

Stanbic Bank Zimbabwe and Midlands State University (MSU) have formalised a landmark partnership through the launch of an undergraduate scholarship programme aimed at increasing access to higher educa...

By Staff reporter | Published: 01 July 2025

FINANCIAL SERVICES

ZB Bank secures US$5 million Afreximbank facility

ZB Bank Limited has secured a US$5 million loan facility from the African Export-Import Bank (Afreximbank), aimed at supporting small and medium enterprises (SMEs) in Zimbabwe, particularly those enga...

By Staff reporter | Published: 30 June 2025

FINANCIAL SERVICES

Fresh details on collapsed US$2,5bn CBZ bid emerge

An ambitious plan by CBZ Holdings to create Zimbabwe's largest financial services powerhouse has collapsed after the Competition and Tariff Commission (CTC) imposed a series of restrictive conditions ...

By Staff reporter | Published: 20 June 2025

FINANCIAL SERVICES

Zimbabwe rebuilds correspondent banking ties

The Bankers Association of Zimbabwe (BAZ) has confirmed that some regional and niche international financial institutions have begun cautiously re-engaging with Zimbabwean banks, following the lifting...

By Staff reporter | Published: 19 June 2025

FINANCIAL SERVICES

ZBFH to surrender building society licence by year-end

Financial services group ZB Financial Holdings (ZBFH) has announced its intention to comply with the Reserve Bank of Zimbabwe's (RBZ) conditions to surrender the licence of its building society unit b...

By Staff reporter | Published: 11 June 2025

FINANCIAL SERVICES

Nedbank Zimbabwe wins US$2m Supreme Court case

The Supreme Court has thrown out an appeal by Israel-based firm Magic Software Enterprises Limited, which had sought to overturn a High Court decision that ruled nearly US$2 million held in a Nedbank ...

By Staff reporter | Published: 10 June 2025

FINANCIAL SERVICES

ZB tips Mastercard deal to drive global transactions

ZB Financial Holdings (ZBFH) has launched a new range of Mastercard products as part of its ongoing digital transformation strategy aimed at expanding financial inclusion and giving Zimbabwean custome...

By Staff reporter | Published: 03 June 2025

FINANCIAL SERVICES

Afreximbank posts strong net income of US$215 million

The African Export-Import Bank (Afreximbank) has reported a strong financial performance for the first quarter of 2025, demonstrating resilience and profitability amid global economic headwinds. The p...

By Staff reporter | Published: 22 May 2025

FINANCIAL SERVICES

NMBZ generates ZWG396 million in 3 months

NMBZ Holdings has posted a record performance for the first quarter of 2025, generating an impressive operating income of ZWG396 million, as the financial services group sets its sights on regional gr...

By Staff reporter | Published: 22 May 2025

FINANCIAL SERVICES

Stanbic extends digital payments offering

Stanbic Bank Zimbabwe has announced the full digitization of its international payments facility, extending the service to all client categories in a major step toward enhancing convenience, accessibi...

By Staff reporter | Published: 21 May 2025

FINANCIAL SERVICES

NMBZ finalises US$70m external credit lines

Zimbabwe Stock Exchange-listed financial services group NMBZ Holdings is on the verge of securing external lines of credit worth over US$70 million, as part of its broader strategy to unlock US$100 mi...

By Staff reporter | Published: 19 May 2025

FINANCIAL SERVICES

FBC blames tight policy for choking transaction volumes

Financial services giant FBC Bank has attributed a sharp decline in transaction volumes to the Reserve Bank of Zimbabwe's (RBZ) continued tight monetary policy, which it says has squeezed liquidity an...

By Staff reporter | Published: 16 May 2025

FINANCIAL SERVICES

ZB launches twin digital solutions to modernise Zimbabwe's payment landscape

Financial services provider ZB Financial Holdings (ZBFH) has unveiled two new digital platforms, Smile Cash and Smile&Pay, in a move aimed at deepening financial inclusion and modernising Zimbabwe...

By Staff reporter | Published: 15 May 2025

FINANCIAL SERVICES

ZB Financial Holdings posts ZiG261.94 million profit

ZB Financial Holdings (ZBFH) has posted a strong financial performance in the first quarter of 2025, recording a profit after tax of ZiG261.94 million, underpinned by effective cost containment strate...

By Staff reporter | Published: 15 May 2025

FINANCIAL SERVICES

Standard Chartered Plc takes US$172m hit on Zimbabwe exit

British banking giant Standard Chartered PLC (StanChart) has reported a US$172 million loss in 2024 tied to the sale of its Zimbabwean subsidiary, citing severe foreign exchange translation losses tha...

By Staff reporter | Published: 09 May 2025

FINANCIAL SERVICES

First Capital Bank sees 150% surge in loan book

First Capital Bank has posted robust financial results for the year ended December 31, 2024, highlighted by a 150 percent surge in its loan book, signaling a deliberate pivot towards bolstering key ec...

By Staff reporter | Published: 02 May 2025

FINANCIAL SERVICES

CBZ hails Zimbabwe's less volatile economy

CBZ Holdings Limited has praised Zimbabwe's improving economic environment and easing inflationary pressures, which have played a key role in the financial institution achieving a profit of ZWG537.5 m...

By Staff reporter | Published: 30 April 2025

FINANCIAL SERVICES

Afreximbank says globalisation is under life support

Globalisation is under threat amid rising protectionism which must force African countries to look inwards for growth and development, Afreximbank president Benedict Oramah has said.The world is in a ...

By Staff reporter | Published: 18 April 2025

FINANCIAL SERVICES

Zimbabwe to get share of US$300m Afreximbank dividend

The Zimbabwean government is set to receive a significant payout from Afreximbank's recently declared US$300 million dividend, following the bank's exceptional financial performance in the year ending...

By Staff reporter | Published: 16 April 2025

FINANCIAL SERVICES

EcoCash maintains market leadership amid rising competition

The country's fintech sector has seen a significant increase in new players such as Omari, Innbucks, Mojo Mula and Mukuru in the mobile money business, which had previously been made up of EcoCash, Ne...

By Staff reporter | Published: 14 April 2025

FINANCIAL SERVICES

US$80m Harare Afreximbank trade centre to open in August

The Afreximbank Africa Trade Centre (AATC) Harare's office is expected to open in August, the pan African bank said on Thursday, as it moves to boost trade and investment in Africa, the Caribbean and ...

By Staff reporter | Published: 14 April 2025

FINANCIAL SERVICES

Short-term insurance complaints up 40% in 2024

SHORT-TERM insurance complaints rose 40% in 2024 to 126, driven by unsatisfactory services and delays in settlement claims, a new report by the industry's regulator shows.In the Insurance and Pension ...

By Staff reporter | Published: 14 April 2025
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