BARBICAN’S healthcare investment plan has been put on hold until the group is allowed to conduct business by the Reserve Bank of Zimbabwe, sources said. Barbican Holdings Ltd was last week put u
nder curatorship for six months by the RBZ after a serious liquidity crisis was unearthed at the financial institution.
Chief executive officer Mthuli Ncube has since left the country and is understood to be in the United States. The Barbican healthcare investment plan under the Barbican Money Fund Unit Trust was specially designed to cater for medical needs. Launched three weeks ago the fund was supposed to generate interest for the investor and could be accessed anytime through withdrawals. The fund could also be accessed as a cash withdrawal if the investor had not used it for medical expenses. Individuals and companies would pay $100 000 monthly for the facility.
When the fund was launched Ncube said it was meant to provide the “best health care cover for clients and was geared for private hospital benefits”.
However, sources said, with the closure of Barbican the plan has now been put on hold until the curator finishes the clean-up at the financial institution.