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Bloomberg
Zimbabwe penalised 12 banks for “financial indiscipline†that fueled inflation and undermined the currency, the Herald newspaper cited President Emmerson Mnangagwa as saying.
The unidentified institutions have received unspecified “hefty penalties,†Mnangagwa told supporters of the ruling party after opening a gold-processing facility, according to the Harare-based paper.
The central bank probed a total of 16 lenders suspected of “financial malfeasance†that resulted in a spike in the exchange rate on the parallel market, the president was cited as saying.