RBZ had up to Thursday to pay the last installment to the workers it retrenched early this year.
The retrenched workers had earlier been paid an initial sum in January, another payment was made in March with Thursday being the last payment date. The money to pay the retrenched employees is said to have come from Treasury.
In the financial year 2011, RBZ was allocated US$32 million to meet its operational needs exclusive of the retrenchments.
So far Treasury has disbursed US$23 million in tranches of US$15 million and US$8 million.
Initially the bank wanted to use proceeds from the sale of non-core assets to pay off the workers but the process failed to take off in time due to logistical constraints.
Last month, RBZ announced that seven firms where it had interests would be sold.
The sale of the assets would be administered by the assets disposal committee chaired by board member retired Justice George Smith.
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There was an oversight when the bank asked for bids from financial advisors and interested buyers. RBZ was supposed to look for financial advisors to evaluate the bids by prospective buyers.
RBZ wants to sell its 58,75% stake in Tractive Power Holdings; 70% in Tuli Coal; 50% in Transload (Bio Diesel) and 64,9% in Astra Holdings. It also wants to sell its 65% shareholding in Sirtech, 100% in Homelink and 100% in Carslone Enterprise.
The bids are “open to all Zimbabwean citizens, locally registered companies as well as to foreigners and externally registered firms subject to the indigenisation laws of the country.”
“In the case of individuals and corporate bodies wishing to acquire any of the assets under disposal, proof must be submitted relating but not limited to nationality and residency of the bidder as well as demonstration of ability to pay for the assets being acquired,” RBZ said in May.
RBZ now has a staff compliment of 530 from 1600 it used to have before the restructuring of the bank.
The restructuring of the bank leaves the institution concentrating on its core business.
The bank was accused of quickening hyperinflation by engaging in quasi- fiscal activities.
ENDS
