Zimbabwe: Banks in Panic Mode

From Economic Views from Zimbabwe Thu Nov 29 2012, 03:47:00

Zimbabwe: Banks in Panic Mode

Most commercial banks in Zimbabwe are believed to have plunged into panic mode after Finance Minister Tendai Biti announced plans to introduce measures that could eat into a substantial chunk of the financial institutions' income. Sources in the banking sector said the Bankers Association of Zimbabwe has since engaged Reserve Bank of Zimbabwe Governor Gideon Gono for a Memorandum of Understanding around a number of burning issues. Discussions are likely to revolve around the issues of lending, interest and savings rates and bank charges among a host of other matters.

Treasury also wants banks to agree with the RBZ on a framework for lending rates, but with a 10 percent cap above cost of funding. But the most contentious aspect of discussions is likely to centre on the directive that banks should not levy deposits below US$800.

[view whole blog post ]
 See More    |     Report Abuse

People and Organizations:


You might also be interested in the following news stories:

Zimbabwe:   Mugabe's Birthday Celebrations Obscure Zanu-PF's Never Ending Wars (analysis)
African Arguments
27 February 2015

A million dollar feast awaits an old African king in Zimbabwe this weekend as President Robert Mugabe celebrates his 91st birthday, but beyond the elephantine pomp and fanfare lie tempestuous ... [read more]

Kenya:   UK Charity Boss Jailed for Kenya Child Sex Abuse (news)
Capital FM
27 February 2015

A British charity boss who abused Kenyan street children after luring them to his Gilgil home has been jailed for more than 17 years. [read more]

Zimbabwe:   Mugabe Reveals Secret to Long Life (news)
South African Press Association
27 February 2015

Zimbabwe President Robert Mugabe, who has just turned 91, said on Thursday that one of his secrets to a long life was "not filling my stomach". [read more]



blogAfrica is allAfrica.com's platform to help you keep an ear on the African blogosphere. We draw diverse voices from around the world who post regularly and insightfully about African issues. Bloggers, submit your blog's rss-feed!