"Punitive Zim Bank charges discourage savings"

HARARE - Local banks are milking account holders through high charges to boost their income and support the infrastructure they put in place when the economy was faring better.

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.

Editor's Comment
Gov’t must rectify recognition of Khama as Kgosi

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....

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