ALPHA Media Holdings (AMH) will launch the 2018 banks and banking survey on November 29, seeking to address the low confidence in the financial markets, among other goals.
BY STAFF REPORTER
The banks and banking survey is an annual report of the banking sector’s performance for the year, published by AMH’s Zimind Publishers who also publish the NewsDay, Zimbabwe Independent and The Standard newspapers.
“The current scenario is characterised by low domestic savings and informal trades which cannot be harnessed towards building a bigger economy. The report will therefore also address issues around improving confidence in the financial markets through encouraging transparent transacting,” AMH managing director Kennias Mafukidze said.
“It is key that as a country we figure out how to ensure that there is balanced resource allocation between government and private sector such that funding is not crowded out of the supply side of the economy. Emphasis will also be placed on the ingredients that will encourage local investments. No economy will be able to attract outsiders to invest if the conditions are not even conducive to locals.”
He said this was a great networking event for leaders to generate solutions to the current issues.
This year’s edition of the banks and banking survey will run under the theme Banking the Unbanked: Ensuring Financial Inclusion in light of the over 50% total population in Zimbabwe estimated to be excluded from financial services.
First Capital Bank Limited in association with Barclays Plc will sponsor this year’s edition of the survey.
FCB has recently found renewed focus from its Mauritian-based FMB Capital Holdings majority shareholders who acquired a controlling stake in the bank last year from the United Kingdom based banking group Barclays Plc.
Mafukidze said banks had a crucial role to play in any economy.
“The role includes capital formation and allocation of resources into productive sectors whilst also financing government. The banks also play a critical role as entrepreneurs and employers. This year’s event will honour the banks and banking personalities who have made a positive impact in Zimbabwe’s economy and stand as pillars of progress,” he added.