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SWF shift the balance of power

The current shift of financial power from multi-national organizations such as World Bank, I.F.C and others to Sovereign Wealth Funds presents developing nations such as Zimbabwe with a new source of foreign direct investment. A sovereign wealth fund (SWF) is a state-owned fund composed of financial assets such as stocks, bonds, property or other financial instruments. Sovereign wealth funds have gained world-wide exposure by investing in several Wall Street financial firms. These firms needed a cash infusion due to losses resulting from the credit crunch caused by the mortgage meltdown which started in the USA.

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Letter to Interfin Bank Directors on CFX Bank
Wednesday, 04 November 2009

15th Floor, NSSA Building

Cnr Sam Nujoma St/Julius Nyerere Way

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Gono and Banking sector destruction
Saturday, 24 October 2009

As Zimbabwe seeks to rebuild and rebrand it is important to identify capable and experienced individuals who can assist the economic turn around effort.One such individual is Banker and Businessman Mr Nicholas Vingirayi.

 

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Muponda in bid to Block CFX Bank Zimbabwe Takeover
Friday, 23 October 2009

THE wrangle over the ownership of CFX Financial Services Ltd has taken a new twist with exiled businessman Gilbert Muponda seeking to block an extraordinary general meeting that can seal the takeover of the troubled financial institution by a Zambian bank. Muponda, through his lawyers Gutu & Chikowero Attorneys-at-law on Monday wrote to CFX company secretary Patricia Ndoro threatening to take legal action against the company if it proceeds with the shareholders meeting on November 12.

 

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