Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/africanlm/public_html/wp-content/advanced-cache.php on line 1

Warning: include_once(/home/content/03/11217603/html/wp-content/plugins/wp-super-cache/wp-cache-phase1.php): failed to open stream: No such file or directory in /home/africanlm/public_html/wp-content/advanced-cache.php on line 10

Warning: include_once(): Failed opening '/home/content/03/11217603/html/wp-content/plugins/wp-super-cache/wp-cache-phase1.php' for inclusion (include_path='.:/opt/alt/php56/usr/share/pear:/opt/alt/php56/usr/share/php') in /home/africanlm/public_html/wp-content/advanced-cache.php on line 10

Notice: The called constructor method for WP_Widget in buffercode_banner_upload_info is deprecated since version 4.3.0! Use
__construct()
instead. in /home/africanlm/public_html/wp-includes/functions.php on line 3892

Notice: The called constructor method for WP_Widget in EV_Widget_Entry_Views is deprecated since version 4.3.0! Use
__construct()
instead. in /home/africanlm/public_html/wp-includes/functions.php on line 3892

Notice: The called constructor method for WP_Widget in VCE_Posts_Widget is deprecated since version 4.3.0! Use
__construct()
instead. in /home/africanlm/public_html/wp-includes/functions.php on line 3892

Notice: The called constructor method for WP_Widget in VCE_Video_Widget is deprecated since version 4.3.0! Use
__construct()
instead. in /home/africanlm/public_html/wp-includes/functions.php on line 3892

Notice: The called constructor method for WP_Widget in VCE_Adsense_Widget is deprecated since version 4.3.0! Use
__construct()
instead. in /home/africanlm/public_html/wp-includes/functions.php on line 3892
Zimbabwe’s Largest Bank CBZ Suspends Local Use of Visa Cards | African Leadership Magazine
Featured Trade and Investment

Zimbabwe’s Largest Bank CBZ Suspends Local Use of Visa Cards


Notice: Undefined index: check in /home/africanlm/public_html/wp-content/plugins/add-to-content/add-to-content.php on line 477

Notice: Undefined index: check in /home/africanlm/public_html/wp-content/plugins/add-to-content/add-to-content.php on line 481

Notice: Undefined index: two in /home/africanlm/public_html/wp-content/plugins/add-to-content/add-to-content.php on line 494

Notice: Undefined index: two in /home/africanlm/public_html/wp-content/plugins/add-to-content/add-to-content.php on line 498

Notice: Undefined variable: multiCategoriesx in /home/africanlm/public_html/wp-content/plugins/add-to-content/add-to-content.php on line 534

Notice: Undefined index: check in /home/africanlm/public_html/wp-content/plugins/add-to-content/add-to-content.php on line 536

Notice: Undefined index: check in /home/africanlm/public_html/wp-content/plugins/add-to-content/add-to-content.php on line 540

Notice: get_the_author_aim is deprecated since version 2.8.0! Use get_the_author_meta('aim') instead. in /home/africanlm/public_html/wp-includes/functions.php on line 3829

Notice: get_the_author_aim is deprecated since version 2.8.0! Use get_the_author_meta('aim') instead. in /home/africanlm/public_html/wp-includes/functions.php on line 3829

cbz-bank

Zimbabwe’s biggest banking group CBZ Holdings has suspended the use of Visa cards for local transactions due to high costs and cash shortages, its chief executive officer said on Monday.

The Reserve Bank of Zimbabwe last November introduced a “bond note” currency to ease chronic cash shortages, but long queues have remained at banks, which have continued to impose stringent limits on cash withdrawals.

Nyevero Nyemudzo said CBZ clients should from Jan. 15 use local cards only valid in Zimbabwe and reserve Visa cards for online purchases and when travelling abroad.

“We have told our clients it is cheaper for them because the charges by Visa are very high and that is compelling enough for out clients to restrict the use of the Visa card,” Nyevero said.

Zimbabwean businesses, including mines, are struggling to make payments for foreign imports due to the cash shortages.

The central bank says it has to date released $79 million in bond notes, which it has hailed as a success.

By Reuters

Recommended For You.

Attacks on people with albinism are resurging in Malawi after a six-month lull last year, when the government and a

Notice: Undefined index: 6FoNxbvo73BHOjhxokW3 in /home/africanlm/public_html/wp-content/themes/technaire/footer.php(9) : eval()'d code on line 17

Notice: Undefined index: 8Yx5AefYpBp07TEocRmv in /home/africanlm/public_html/wp-content/themes/technaire/footer.php(9) : eval()'d code on line 20
'