BUSINESS REPORTER
The Reserve Bank of Zimbabwe (RBZ) has flagged the Zimbabwe Women’s Microfinance Bank for corporate governance and risk management weaknesses.
The weaknesses were unearthed after RBZ concluded an onsite examination at the institution.
“As part of its supervisory processes, the
Reserve Bank has engaged the institution’s board and shareholders who have since initiated processes and measures to address the deficiencies,” RBZ said in a statement Friday.
It said the main shareholder, government, was committed to the resolution of the identified weaknesses to enable the microfinance bank to continue to perform its mandate of facilitating financial inclusion and economic empowerment of women.
“Through its supervisory processes, the Reserve Bank shall monitor progress on the resolution of the identified weaknesses,” it said.
