RBZ cancels Tetrad’s licence

The Reserve Bank of Zimbabwe (RBZ) has cancelled Tetrad Investment Bank’s operating licence at the institution’s behest as it ventures into management and development of property after failing to be recapitalised.

In a notice in the Government Gazette published on Friday, the RBZ’s registrar of banking institutions said Tetrad surrendered its banking licence after it failed to commence operations following the lifting of provisional judicial management in October 2018.

“The institution unsuccessfully courted potential investors and failed to put in place requisite infrastructure to facilitate commencement of banking operations.

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