London Stock Exchange listed firm Cambria Africa is now in the motion of suing the Bankers Association of Zimbabwe, along with its members, for anti-competitive practices to the tune of US$100million. This is in relation to the dispute stemming from the blocking of PayNet from the banks which had an impact on bulk payments. ZTN […]
· As Cambria claims there is a cartel in Zim banking sector Ndaka Majaka Cambria Africa PLC, which last month suspended its payment service to its bank customers in Zimbabwe over a debt of US$430 000, claims that it was dribbled by the Reserve Bank of Zimbabwe and the Bankers Association of Zimbabwe (BAZ). Cambria […]
Ndaka Majaka Zimbabwe will soon introduce a new bulk payment system to facilitate interbank money transfers and micro-finance services. The system will replace Cambria Africa Plc’s Paynet, which suspended service after banks in Zimbabwe failed to settle its fees totalling US$470 000. ZTN News understands the platform will be housed by national electronic funds transfer […]
THOUSANDS of Zimbabwean workers are failing to get their salaries as the impasse between Cambria Africa Plc (Cambria), the providers of the payment Paynet platform, and local banks rages on. Last week, UK-listed Cambria suspended its services to Zimbabwe protesting non-payment by Zimbabwean banks which are struggling to raise the requisite foreign currency. According to […]
#TheMint is ZTN’s Premiere business show hosted by Andy Hodges… Get the latest information on the #PaynetSaga, Zimbabwe Stock Exchange, International-markets and many more…
Paynet saga, is there a local solution? Are interest rates about to go up? The World Bank has upgraded Zimbabwe to a lower middle income economy from low income ranking. Plus the most trending business and stock market news with analysis from your host Andy Hodges…