Zimbabwe: Kingdom Eyes U.S.$50 Million Capitalisation Target

FINANCIAL services group AfrAsia Kingdom has embarked on a capital raising drive as the Reserve Bank of Zimbabwe's US$50 million minimum capital thresholds for commercial banks draws closer. Commercial banks will be required to have a minimum capital base of US$50 million by end of June.

Without disclosing how much the company intends to raise, the group said it would be a combination of a rights issue to the existing shareholders and an offer of shares to new investors.

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