Allied Bank

The court application filed by the Zimbabwe Amalgamated Housing Association (Zaha) demanding its $1,4 million from the liquidated Allied Bank has exposed the rot at the institution.
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By Tendai Kamhungira Macro-Economic Planning minister Obert Mpofu could lose his plush Glen Lorne property after he was dragged to the High Court by CBZ Bank over a long over-due debt of nearly $3 million. According to court…
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The Deposit Protection Corporation is paying demonetisation proceeds to qualifying Zimbabwe Dollar account holders for banks under liquidation, as part of a demonetisation exercise to bring finality to issues of local currency holdings.…
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HARARE - Macro-economic Planning and Investment Promotion Minister Obert Mpofu, has been slapped with a $16 million lawsuit for failing to surrender immovable assets to the liquidator of his now defunct Allied Bank Limited.
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Two hundred and forty-five workers are set to lose their jobs upon liquidation of Transport minister Obert Mpofu’s collapsed Allied Bank.
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More woes continued to haunt Transport minister Obert Mpofu’s collapsed Allied Bank with the Deputy Sheriff yesterday pouncing on the bank’s property in Harare in a bid to recover more than $1,5 million owed to Zimbabwe Amalgamated Housing…
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The Reserve Bank of Zimbabwe on Thursday announced that it had cancelled Allied Bank’s operating licence after determining that the financial institution was no longer in a safe a sound condition.
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The troubled Allied Bank is reportedly on the verge of collapse with its owner, ZANU PF Transport Minister Obert Mpofu, said to be failing to inject more cash to keep it afloat.
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As the cash crunch bites in Zimbabwe, these were the queues at a MetBank branch this week.
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Zimbabwe's inflation continued on a downward spiral this year, raising fears of an economic stagnation, economists say.
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