Nedbank Zim now compliant with the USD30 million minimum capital requirement. The Reserve Bank of Zimbabwe (RBZ) has announced that Nedbank Zimbabwe is now compliant with the minimum capital requirement of ZW$ equivalent to USD30 million.
NEDBANK ZIMBABWE LIMITED COMPLIANCE WITH THE MINIMUM CAPITAL REQUIREMENTS
Further to the announcement in the Monetary Policy Statement of 7 February 2022 that, Nedbank Zimbabwe Limited was non-compliant with the minimum capital requirement as at 31 December 2021,
the Bank is pleased to advise the public that, Nedbank Zimbabwe Limited has raised additional capital through a rights issue and is now compliant with the minimum capital requirement of ZW$ equivalent to USD30 million.
Accordingly, Nedbank Zimbabwe’s reported minimum capital as at 9 February 2022 is ZW$ equivalent to USD31.1 million, against the regulatory minimum of the ZW$ equivalent to USD 30 million.
John P. Mangudya
Governor
Source -Pindula News
In other news – Business community rejecting Zim Dollar
Business community rejecting Zim Dollar. This happened at a review of the 2022 monetary policy statement (MPS) hosted by the Zimbabwe Economic Society two days after the MPS was released.
The business community last Wednesday told the Reserve Bank governor John Mangudya that they do not want the Zimbabwe dollar as it is not a sustainable currency…Learn More.