Standard Chartered

After 130 years in the country, Standard Chartered is leaving Zimbabwe. The group has announced it is exiting a number of operations around the world, including Zimbabwe, to cut costs.
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Standard Chartered Bank, one of the country’s biggest and oldest financial institutions, has said it will close its Gweru branch next month and transfer the city’s accounts to Bulawayo.
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Standard Chartered Bank Zimbabwe on Tuesday cancelled unrestricted use of the Visa card for payments outside the country, advising its clients to first seek special permission. The move, which follows an earlier ban on local use of…
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By Bianca Mlilo Some local banks have reverted to the $50 withdrawal limit per day citing continuing cash shortages. This is in defiance of a recent Reserve Bank of Zimbabwe (RBZ) directive to have a minimum withdrawal pegged at…
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By Gift Phiri Standard Chartered Bank has frozen several bank accounts that have received large deposits, and also advised its clients that with immediate effect, ID verification will be carried out at all its automated teller machines…
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Zimbabwe will let foreigners keep majority stakes in banks for now because locals have no money to buy shares, the finance minister said on Wednesday, signalling a pause in President Robert Mugabe's black economic empowerment drive.
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Harare - The Zimbabwe unit of UK-based Standard Chartered is owed nearly $28 million (R300m) by the country’s central bank, which accessed foreign currency accounts held on deposit with the British bank by its customers.
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HARARE - The Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono has assured Standard Chartered Bank depositors that the bank will not be closed despite repeated threats by an empowerment board run by minister Saviour Kasukuwere.
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Zimbabwe has increased minimum capital requirements for banks to as much as $100 million, a move which could hold back a drive to force foreign banks to sell majority shares to locals while forcing small, locally owned ones to merge.
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Saviour Kasukuwere on Wednesday went berserk shouting unprintable words when quizzed about his contrasting position with that of central bank governor Gideon Gono over the empowerment programme.
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