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Royal Bank of Zimbabwe

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Royal Bank of Zimbabwe

Mission statement:

The pursuit of the Bank's vision will express itself through leadership in the formulation, implementation and monitoring of policies and action plans for fighting inflation, stabilisation of the internal and external value of Zimbabwe's currency and of the financial system in a manner that gives pride of achievement to Zimbabweans across the board.

Vision:

To become the financial cornerstone around which Zimbabwe's economic fortunes and developmental aspirations are anchored.

Our Values

  1. Fairness and equality in employment opportunities;
  2. Openness without offence;
  3. Honesty, integrity and uprightness;
  4. Transparency in whatever we do in the name of the Bank;
  5. Commitment to teamwork and cooperation;
  6. Learning organization;
  7. Respect for one another without discrimination;
  8. Helpfulness and approachable;
  9. Clients and customer focused;
10. Involvement and commitment;
11. Decisiveness, action and results oriented;
12. Accountability;
13. Professionalism;
14. Success-driven;
15. Time conscious;
16. Respect for the environment.

History:

The Reserve Bank of Zimbabwe has its origins in the Bank of Rhodesia and Nyasaland which was created in March 1956 as a central bank for the Federation of Rhodesia and Nyasaland. The Reserve Bank was the successor to the Central Currency Board, which had the sole right to issue currency.

Originally, the Bank was situated in Vincent (now Mapondera) Building in Harare from where the High Court of Zimbabwe currently operates, and later moved to Bank Chambers at 76 Samora Machel Avenue, in June 1957 as its new headquarters.

Following a rapid growth in its operations and staff complement, the Bank found it necessary to construct its current headquarters complex at 80 Samora Machel Avenue. The building, billed as the most technologically advanced in Zimbabwe, was officially opened by His Excellency, the President of the Republic of Zimbabwe, Robert Gabriel Mugabe, on May 31 1996.

The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides for the Board of Directors and the post of Governor who is responsible for the day-to-day administration and operations of the Bank. The Governor is assisted by three Deputy Governors.

The Governor and his three deputies are appointed by the State President for renewable five-year-terms. The board of directors is chaired by the Governor, and its membership includes three Deputy Governors and a maximum of seven other non-executive directors, appointed by the President and representing key sectors of the economy.

Telex: 26033/26075 RESZIM ZW

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