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Zimbabwe: RBZ Cancels Afrasia Bank's Licence
The Herald, 25 February 2015
The Reserve Bank of Zimbabwe yesterday cancelled AfrAsia Bank Zimbabwe Limited (formerly Kingdom Bank)'s licence after it failed to meet minimum capital requirements, becoming the… Read more »
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Zimbabwe: Chanakira Formed Afrasia Bank Collapses
New Zimbabwe, 24 February 2015
AFRASIA Bank Zimbabwe, founded as Kingdom Financial Holdings by Nigel Chanakira, has collapsed after the central bank confirmed the cancellation of its licence on Tuesday. Read more »
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Zimbabwe: Afrasia Bank Mulls Short Working Week
Zimbabwe Independent, 20 February 2015
AFRASIA Bank Zimbabwe Ltd is mulling sending its workers on a two-week unpaid leave every month as it grapples viability problems, businessdigest has learnt. Read more »
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Zimbabwe: Afrasia Zimbabwe Posts $9mln Loss in Fy2014
New Zimbabwe, 5 February 2015
AfrAsia Zimbabwe has recorded a $9 million loss in the full year to June last year with its Malawi investment accounting for 50 percent of the figure after revaluation, the company… Read more »
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Zimbabwe: Criminalise Running Down of Banks
The Herald, 5 February 2015
The failure of two banks in a space of one month provides the basis for the fast-tracking of the Banking Act reforms. Government should immediately tighten banking laws. Several… Read more »
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Zimbabwe: Foreign-Owned Banks Unscathed
Financial Gazette, 29 January 2015
THE crisis facing banks will not affect foreign investor confidence in the industry, analysts have said. Most of Zimbabwe's failing banks have been forced out of business by bad… Read more »
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Zimbabwe: Call for Troubled Banks to Merge
The Herald, 19 January 2015
ANALYSTS have called for merging of troubled banks to save them from total collapse in the wake of liquidity problems threatening survival of the undercapitalized banks. Read more »
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Zimbabwe: RBZ Closes Obert Mpofu's Bank
Zimbabwe Independent, 9 January 2015
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Zimbabwe: RBZ Cancels Allied Bank Licence
The Herald, 9 January 2015
ALLIED Bank has surrendered its licence to the Reserve Bank of Zimbabwe after failing to raise the minimum capital prescribed by the central bank. In a statement, the Reserve Bank… Read more »
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Zimbabwe: Afrasia Engages Imara Capital Finance
The Herald, 22 December 2014
Afrasia Zimbabwe Holdings Limited has engaged IMARA Capital Finance to jointly market a Medium Term Secured Note, which is expected to generate incremental $15 million liquidity to… Read more »
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Zimbabwe: Deliver or We Report to Police, School Tells Afrasia Bank
The Herald, 16 December 2014
An elite Masvingo school, Kyle Preparatory School, has demanded that troubled AfrAsia Bank transfer nearly US$4 000 and about R60 000 into its account with another local bank or… Read more »
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Zimbabwe: Plans Afoot to Address Afrasia Bank Problems
Zimbabwe Standard, 2 November 2014
AfrAsia Zimbabwe Holdings Limited (AZHL) has embarked on a turn-around strategy involving key local and international investors as it moves to address the liquidity challenges… Read more »
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Zimbabwe: AfraAsia to Raise Capital for Its Units
The Herald, 20 October 2014
AFRASIA Holdings says it is talking to some global investors to raise "significant" capital for its local unit AfrAsia Zimbabwe and sees the bank returning to "height of its… Read more »
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Zimbabwe: Teachers Abandon Classes to Queue for Cash At Afrasia Bank
Zimbabwe Standard, 19 October 2014
THE cash crisis continues unabated at the troubled AfrAsia Bank, forcing teachers who have accounts with the bank in the Matabeleland region to abandon classes for days while… Read more »
Another Zimbabwean Bank Closes Down
AfrAsia Bank Zimbabwe Limited formerly known as, Kingdom Bank, has become the second bank this year whose licence has been cancelled due to failure to meet minimum capital requirements.
