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MULTIMEDIA No. 7 Cambridge Avenue, New lands P.O Box 10457, Harare, Zimbabwe Tel: 776212; 788135; Fax 776160






April 2012 Media Monitoring Report


Zimbabwe’s Banking sector is relatively sophisticated consisting of 19 registered Commercials banks, a savings bank, four building societies and three merchant banks.

NewZimbabwe.comforums (2 May, 2012) reported that an International Monetary Fund (IMF) delegation had met and advised the Ministry of Finance officials and senior bankers that Zimbabwe’s small, inflation-plagued economy can take no more than seven commercial banks, a number which is less than half the 19 registered commercial banks serving Zimbabwe's population of about 13 million people, most of whom survive on less than US$1 a day. The delegation had further advised that a smaller number of banks would restore normalcy and public confidence in the financial services sector- currently dogged by allegations of poor corporate governance.

The government through the RBZ and the Ministry of Finance has thus been considering legislation to force bank mergers to zero down the number of financial services institutions in the country to less than ten and help ensure the sector’s stability. The Minister of Finance notified parliament’s committee on budget, finance and investment Promotion that most of the banks barely met minimum capital requirements thereby threatening sector-wide contagion. (

In spite of all these pressures from the monetary authorities, also reported that the Bankers Association of Zimbabwe however continues to insist that the economy is not yet overbanked with the president of the association Mr. John Mushayavanhu stating that the economy will only come to that condition when every Zimbabwean has got a bank account. He argued that each and every bank that opens already has a target market that they would eye to do business with. He supported his argument with the fact that the informal sector has not been fully penetrated to date.

MULTIMEDIA No. 7 Cambridge Avenue, New lands P.O Box 10457, Harare, Zimbabwe Tel: 776212; 788135; Fax 776160

Some of the banks were reported in April to be engaging international partners in an effort to try and meet the RBZ’s minimum capital requirements.


The Advertising for this month was more intense as compared to the trend in the same period the past years. For instance the toatal advertising expenditure for 2009 and 2010 was $14 227 and $140 828 respectively as compared to a total of $264 000 this year.

20 of the 27 banks did some advertising in print media. There were however no advertising activities by banks that were noted in the electronic media this month of April.

Inspite of some financials that were flighted, the advertising for this month was skewed torwards a marketing orientation with about 77% of the budgets going on to the advertising of corporate brands and products.


MULTIMEDIA No. 7 Cambridge Avenue, New lands P.O Box 10457, Harare, Zimbabwe Tel: 776212; 788135; Fax 776160



The Superbrand Print Media publication, The Herald still dominates with the highest advertising volumes as compared to the other papers.

Of interesting note is the Zimind which comes in at second best in advertising volumes inspite of its above normal advertising rates when compared to the other print media.

The Daily News and its sister paper the weekend Post are still to become favourable amongst the banks.

MULTIMEDIA No. 7 Cambridge Avenue, New lands P.O Box 10457, Harare, Zimbabwe Tel: 776212; 788135; Fax 776160



ECOBANK  Ecobank took the 9th position with a 20 percentage share of voice of the total press advertising by banks.  Campaigns; 1) Easter Celebrations 2) ZITF 3) May Day 4) Ecobank’s Banking Products.


 Zimunya appointed CBZ Bank boss Newsday 15  CBZ and ZB are off the hook by the securities commission of Zimbabwe into suspected

breach of trading rules could not unearth serious evidence of misconduct to warrant penalties. SECZ had instituted investigations into the activities of the financial institutions on suspicion that they were involved in insider trading. (Herald, 27 April 2012).  CBZ had a computed advertising expenditure of of $14 417.10

MULTIMEDIA No. 7 Cambridge Avenue, New lands P.O Box 10457, Harare, Zimbabwe Tel: 776212; 788135; Fax 776160

PTA Bank , CBZ sign $ 60 million loan deal Daily News 4 The PTA has availed CBZ Bank with a three year $60 million on lending loan allowing it to increase its lines of credit to approved customers.

FBC FINACIAL HOLDINGS  Most of the advertising by FBC was confined the Ipfimbi/Skwama product campaign

from the Holding company’s Building Society which drained $31 829.10 of the society’s marketing budget.

BARCLAYS BANK  Barclays is currently running a promotion in dubbed Win a Trip in which its customers

can get a chance to go and watch the Barclays Premier Soccer League in the UK. Most of the bank’s campaigns were centred on this campaign. 

Indigenization weighs down Barclays share Daily News 27- Barclays Bank Limited lost 2.0 cents at the end of trading on the ZSE yesterday as government intensifies indigenization policy.

KINGDOM BANK  Kingdom in new partnership with a Mauritius based financial services group, Afre Asia Bank Ltd as the bank seeks to recapitalise to meet the RBZ’s minimum capital requirements.  Kingdom introduced some new debit and Master cards. These were heavily advertised and a supplement on the launch was published in which the bank got support from 12 companies including Telecel, Securico and KPMG.  The bank had the highest advertising expenditure this month with a computed expenditure in print advertising of above to $45 000.

AGRIBANK  Agribank had the second largest computed advertising expenditure amounting to $37 263.50, an amount that was largely contributed by the flighting of Financials.

MULTIMEDIA No. 7 Cambridge Avenue, New lands P.O Box 10457, Harare, Zimbabwe Tel: 776212; 788135; Fax 776160


TN Holdings to demerge bank Fingaz 5 TN Holdings ltd will demerge TN Bank and the furniture division and list the businesses separately on the Zimbabwe Stock Exchange, a move management hopes will enhance share value.


Royal Bank finalizing deal with Kenyan Investor Newsday 11 Royal Bank Zimbabwe says it is in the process of finalizing its 20 million deal with Kenyan based Commercial Bank of Africa (CBA).


Genesis saved from closure Zim Ind 27 Genesis investment bank could be saved from closure at the eleventh hour amid indications it had secured a new investor a few days before the central bank was about to follow through its undercapitalized banks. March 31 was the deadline.

INTERFIN BANK  Asian Investors for Interfin, Daily News 28 April

 Interfin courts new investors Newsday 27 TRUST BANK  Trust will reverse loss - CEO Fingaz 5 Trust Holding Ltd‘s flagship- Trust Bank- will reverse its loss position and post a profit this year, CEO William Nyemba said.  Operating expenses weigh down Trust Bank Daily News 6 Trust Bank Cooperation Ltd (Trust) has registered a $4, 6 million loss before tax in

its maiden results for the full year to December 31 2011. The banking concern said it expects to recoup the losses following the completion of its branch roll out and rebranding exercise.

MULTIMEDIA No. 7 Cambridge Avenue, New lands P.O Box 10457, Harare, Zimbabwe Tel: 776212; 788135; Fax 776160

STANDARD CHATERED  Standard Chartered posts $22 million profit after tax Fingaz 5 Stanchart Zimbabwe Ltd posted a $22m profit after tax in the year to December 31 2011 bolstered by huge contributions of fees and commission income and good performance from lending activities to productive sectors.

 Stanchart salary dispute rages on Daily News 26 Standard Chartered Bank of Zimbabwe is appealing against a 52% salary increase that was awarded to management by an arbitrator effective March 2011, court document revealed. The bank said it was willing to pay only five percent salary raise across the board.

MULTIMEDIA No. 7 Cambridge Avenue, New lands P.O Box 10457, Harare, Zimbabwe Tel: 776212; 788135; Fax 776160

GENERAL MEDIA OUTLOOK  Banks ‘making hay whilst the sun shines ‘Fingaz 5 Has Zimbabwe ‘s banking sector turned the corner or is the increased profitability of Zimbabwean banks as reported in their 2011 trading results a temporary phenomenon?

 Cabinet quashed bank plan- Biti Daily News 10 Zimbabwe‘s cabinet has entertained a two-tier banking system capitalization, finance minister Tendai Biti has revealed. Under the proposal, the country ‘s big banks namely Barclays, CBZ Bank, SA owned MBCA and Stanbic as well as Stanchart would have been required to pay the current $12,5 million, while small banks would pay $5 million.  Youths concerned over banks unfair treatment Chronicle 12 Zanu PF youth leadership in Masvingo province has raised concern over unfair treatment by banks to manage the empowerment fund and called on the authorities to address the situation.  Banks not sacred: Chapfika Newsday 12 Foreign Banks will not be exempted from relinquishing majority shareholding to locals despite attempts to exempt the sector National Indigenization and Economic Empowerment Board Chairman David Chapfika said.  No need for monetary policy committee Newsday 13 The Reserve Bank of Zimbabwe (RBZ) has surprised the investment community by setting up a monetary policy committee (MPC) as the country‘s authorities no longer have a monetary unit control.  NIEEB remarks on banks rapped Newsday 13 As debate on the takeover of foreign banks rages on, analysts and Zimbabwe‘s Reserve Bank yesterday rapped the NIEEB‘s call for banks to be indigenized.  IDBZ fingered in housing scandal Newsday 13 The Industrial Development Bank Zimbabwe has been fingered as an accomplice in illegal allocation of housing at government funded Willowvale flats.  Mutambara attacks banks Newsday 26

MULTIMEDIA No. 7 Cambridge Avenue, New lands P.O Box 10457, Harare, Zimbabwe Tel: 776212; 788135; Fax 776160

Deputy Prime minister Arthur Mutambara yesterday lashed out at banks describing them as ‘deaf, dumb and dull’ for refusing to ‘invest in the poor.’ 

RBZ role comes under renowned focus (analysis) Zim Ind 27 The role of the RBZ in the prevailing multicurrency dispensation has been brought back into sharp focus following the recent establishment of a monetary policy committee within the bank at a time while government no longer has the margin to borrow or print money to expand its limited fiscal space.

RBZ retrenches want to meet Mugabe Weekend Post 27 Irate RBZ retrenches are demanding an audience with President Robert Mugabe arguing that central bank governor Gideon Gono used them to advance his own interests and later dumped them.

 Turn Beitbridge into one stop boarder post: AFDB boss Herald 27 Africa development bank vice president Dr Mthuli Ncube says Zimbabwe has a huge potential to increase its export revenues and gain from regional integration if government returns Beitbridge into a one stop border post 

US$8 million war at Stanchart as managers demand their dues S. Mail 29

A storm is brewing at Stanchart Zimbabwe Ltd following the financial institution‘s refusal to affect a salary increase awarded to senior managers by the arbitration court.

Banks Media Monitoring  
Banks Media Monitoring  

Financial services media monitoring in Zimbabwe