"Punitive Zim Bank charges discourage savings"
Monday, August 30, 2010
Individuals and corporates are forking out between US$25 and US$50 monthly in bank charges, far above regional averages of below US$30.
But the Bankers Association of Zimbabwe (BaZ) says local bank charges are in line with regional charges. Figures obtained by businessdigest from local banks last week show that an individual is charged between US$1 and US$5 for a single withdrawal while companies pay up to US$9 to be issued with a draft/RMO.
While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....