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Nedbank Zimbabwe Now Compliant With The Minimum Capital Requirement Of USD30 Million

Nedbank Zimbabwe Now Compliant With The Minimum Capital Requirement Of USD30 Million

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 ZimbabweÔÇÖs 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

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2 Comments

­čĄá 3┬ámonths ago

It looks like the minimum capital requirement is in US$ whereas they keep trumpeting that they want to maintain the Zim dollar. We only see US$30m and no Zim dollar amount stated then we wonder which currency is more important here


Zimdollar 3 months ago

Kkkk Ndaseka zvangu. Iwe Dr Nostro, whats the ZW$ equivalent. Asi mavakutonyara kutaura mari yenyu, mazero awandisaka.



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