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Banks strengthen stability as US dollar inflows surge

Deputy Governor of the Reserve Bank of Zimbabwe (RBZ) Innocent Matshe

ZIMBABWE’S banking sector has witnessed a significant boost in confidence, with foreign currency deposits surging 13% to US$2,64 billion in October 2024 compared to the same period last year, a central bank official has said.

Speaking at the 2024 Banks&Banking Survey and Awards Breakfast in Harare, Reserve Bank of Zimbabwe deputy governor Innocent Matshe said the sector has remained resilient under a difficult environment.

Running under the theme "Weaving Through a Dynamic Liquidity Terrain in Zimbabwe”, the survey is published by the country’s best read business weekly,  Zimbabwe Independent in partnership with First Capital Bank – the Victoria Falls Stock Exchange listed financial services outfit.

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