Lion Microfinance Placed Under Curatorship

Lion Microfinance Limited was on Friday placed under the management of a curator. This was revealed by the Reserve Bank of Zimbabwe in a statement. The statement reads:

Notice is hereby given that Lion Microfinance has today been placed under the management of a Curator, for a period of three months in terms of the Microfinance Act [Chapter 24:29].

This follows a determination that the institution is not in a sound financial condition mainly due to critical under capitalisation and weak corporate governance.

Further, take notice that the Deposit Protection Corporation has been appointed the Curator of Lion Microfinance Limited.

Download the Pindula App for a better user experience.