Zimbabwe's largest bank CBZ suspends local use of Visa cards
CBZ Bank has suspended the local use of Visa cards citing the prevailing foreign exchange shortage.
1M | 3M | YTD | 1Y | 2Y |
+18.87% | +42.78% | -99.86% | -99.81% | -98.05% |
Value Traded (ZiG) 44,493,370.37 |
Volume 3,420,352 |
Transactions 182 |
Market Cap. (Millions ZiG) 92,594.86 |
CBZ Bank has suspended the local use of Visa cards citing the prevailing foreign exchange shortage.
The Zimbabwe Stock Exchange recorded its lowest foreign inflows in 2016 since dollarisation because of liquidity challenges which also saw banks delaying the remittance of investment proceeds.
THE amount of nominal value of share held by Old Mutual Zimbabwe’s shareholders on the Zimbabwe Stock Exchange is likely to further dwindle in the outlook as the shareholders move to sell their shares on the giant insurer’s alternative listings. Following the Reserve Bank of Zimbabwe (RBZ)’s approval for the increase in fungibility limits from 40 percent to 49 percent for Old Mutual Plc’s last month, the company has just announced a decline in its shares in issue on the local bourse.
THE Zimbabwe Stock Exchange (ZSE) has effectively completed its demutualisation exercise after it held its first meeting as a private company last Friday. However, it reported a US$1,1 million loss for the full year to December 2015 compared to a profit of US$300 000 in prior comparative period owing to weak trades.