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August 04, 2015 10:40 PM ET

Banks

Company Overview of Reserve Bank of Zimbabwe

Company Overview

Reserve Bank of Zimbabwe is a government institution that maintains internal and external value of the Zimbabwean currency including monetary policy formulation and implementation, issuing of bank notes and coins, custodian of gold and other foreign assets, banker and advisor to government, and bankers' bank and lender of last resort. Reserve Bank of Zimbabwe was founded in 1956 and is based in Harare, Zimbabwe.

80 Samora Machel Avenue

Harare,  

Zimbabwe

Founded in 1956

Phone:

263 4 703000

Fax:

263 4 707800

Key Executives for Reserve Bank of Zimbabwe

Deputy Governor
Deputy Governor
Division Chief of Internal Audit and Compliance
Compensation as of Fiscal Year 2015.

Reserve Bank of Zimbabwe Key Developments

Government Puts Sale Of Homelink Stake On Hold

Government has put on hold the sale of Reserve Bank of Zimbabwe's 100% shareholding in Homelink (Pvt) Ltd. for undisclosed reasons, sources familiar with the development said. The Government has also terminated the mandate of Homelink's five non-executive directors with immediate effect. The decision by the Government has come despite a $22 million offer made by a consortium of local and foreign investors to acquire the stake. "The Reserve Bank has written to Homelink advising that the sale of its shareholding in the company has been reversed by the Government," said one source who requested not to be identified.

ADDAX Trading Reportedly Wins Bid To Buy Homelink

ADDAX Trading has won the bid to buy Homelink (Pvt) Ltd. from Reserve Bank of Zimbabwe for $22 million, sources familiar with the transaction said. ADDAX Trading won the bid ahead of other contenders including a management consortium and its foreign partner as well as OK Zimbabwe Limited (ZMSE:OKZ) who were also in the race. "Addax outbid other willing investors but there are some conditions precedent," said one source. No official comment could be obtained from the Reserve Bank. The central bank re-tendered the sale of its 100% stake in Homelink in compliance with the Reserve Bank Act which requires it to dispose of its non-core assets. KM Financial Solutions Ltd. was appointed financial advisors for the disposal of the assets.

Similar Private Companies By Industry

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Zimbabwe Allied Banking Group Limited Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
Private Placement
May 7, 2015
Aurex Holdings Limited
Private Placement
May 7, 2015
Export Credit Guarantee Corporation Of Zimbabwe (PVT) Ltd
 

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