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Bank Lending Ban: Wholesale Beef Suspends Credit Facility

Bank Lending Ban: Wholesale Beef Suspends Credit Facility

As businesses respond to the bank lending ban by President Emmerson Mnangagwa over the weekend, Wholesale Beef (Pvt) Ltd has announced the suspension of debtors’ accounts with immediate effect.

A statement released by the company’s Director Dale Saudan on Wednesday, 11 May 2022, read:

RE: SUSPENSION OF WHOLESALE BEEF DEBTOR’S ACCOUNTS WITH IMMEDIATE EFFECT

In the wake of recent directives put in place by Government barring the extension of loans to all public and private enterprises, please be advised that Wholesale Beef (Pvt) Ltd has suspended all ongoing and new customers’ debtors accounts with immediate effect (11 May 2022).

During this indefinite period, all account holders with outstanding invoices are requested to clear all outstanding balances.

In an effort to limit inconveniences, Wholesale Beef (Pvt) Lid will also avail credit facilities to account holders who DO NOT have any outstanding invoices.

Going forward, accounts will be accessible on the condition that your account is up to date and there are no unpaid invoices i.e., one unpaid invoice at a time.

Wholesale Beef (Pvt) Ltd would like to apologise for any setbacks caused, as well as express its sincere gratitude to you all for your cooperation and continued support during this uncertain period.

We would like to assure you that this is a temporary measure, which will be reviewed once stability returns to the market.

In accounting, a debtor account is when the client owes money to a business for purchasing its goods or services on credit.

More: Pindula News


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9 Comments

civil servant 1 month ago

apa une uchitofisnga kutnotorawo loan kuti uvakise ka2 rooms wonzwa zvadirwa jecha...
haaaa amana kana let's change this
vote CCC


twabam 1 month ago

Shaa those guys are trying...point your figures to the right person


🍌🍌🍌𝗥𝗲𝗽𝘂𝗯𝗹𝗶𝗰 1 month ago

𝗪𝗵𝗲𝗿𝗲 𝘁𝗼 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗯𝗮𝗻𝗸 𝗹𝗲𝗻𝗱𝗶𝗻𝗴?....𝗮𝗹𝗹 𝗱𝗼𝗻𝗲 𝘁𝗼 𝗽𝗿𝗼𝘁𝗲𝗰𝘁 𝗮 𝗱𝘆𝗶𝗻𝗴 𝗰𝘂𝗿𝗿𝗲𝗻𝗰𝘆? 𝗠𝘁𝗵𝘂𝗹𝗶 𝗮𝗻𝗱 𝗠𝗮𝗻𝗴𝘂𝗱𝘆𝗮 𝗺𝘂𝘀𝘁 𝗿𝗲𝘀𝗶𝗴𝗻, 𝘁𝗵𝗲𝘆 𝗮𝗿𝗲 𝗰𝗹𝘂𝗲𝗹𝗲𝘀𝘀 𝘁𝗼 𝗿𝘂𝗻 𝗭𝗶𝗺 𝗲𝗰𝗼𝗻𝗼𝗺𝘆. 👆❎2023


zapnac 1 month ago

l am not an economics guru.but I have never heard of a gvt which bans bank lending but restrict bank lending to reduce Money supply.hey


Tkt 1 month ago

Aaayaaa kudenha ndokuziva. Madiiko mkoma Chikanda-chirasha apo.
Ndinga endepi hangu ini ndichambo kohwa fodya kudai

Nyangwe taura akagona mdara iwe Kabira zvauno medza wosiya mbayo badzi

Zvakadaro
#ED-Dira_rizare_wangu


CASH & CARRY ECONOMY 1 month ago

Cash is king, no more credit.


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Machiavelli 1 month ago

ZANU yaondonga nyika. The truth is there for all to see. Lending is the core business of banks. Yesterday it was farmers who said they wont be able to buy inputs. Today beef producers can't finance stock purchases. What business can survive without credit?

How can banks survive without making loans?
Where will they get money to pay depositors who expect interest?

Myopic thinking all round.
Please leave the stage if this is your best performance


Chikanda 1 month ago

Njuga dzarema idzi . Uriko here TKT uri kut chii neOld pple's home🙈🙈🙈🙈🙈


Ano 1 month ago

Haana 4n, arkushaya anomukweretesa mari yekuigadzirisa 😂


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