Story by Stanley James, Business Editor
THE modernisation of Zimbabwe’s banking industry is on track as the institutions roll out funds towards the construction of new main administration centres.
A groundbreaking ceremony to mark the construction of First Capital Bank’s new head office created a platform for increased investments by the financial sector towards modernising infrastructure facilities.
The Reserve Bank of Zimbabwe (RBZ) acting governor, Dr. Jesimen Chipika confirmed the increased appetite for modern administration facilities by the banks.
“This is coming at a time when the country has witnessed several banks relocating their administration facilities from the Central Business District to spacious or commercial sites, the sprouting of the modern facilities has therefore added a positive impetus to the growth of banks,” said Dr Chipika.
First Capital Bank chief executive officer, Mr. Tapera Mushoriwa revealed commitment by the regional banking institution to continue operating in Zimbabwe.
“The fact that we are even scaling our administration centre to this big site bears testimony that we are here to stay. In fact, it is because of the viable opportunities that we are tapping that have also necessitated the need to invest massively in Zimbabwe,” he said.
The uptake of real estate administration projects by banks is being made when government projects have also accelerated the rebound of Zimbabwe’s construction industry.
