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RBZ: "Suspension Of Lending Facilities Does Not Apply To Marketable Commodities"

RBZ:

The Reserve Bank of Zimbabwe (RBZ) has said the suspension of lending facilities does not apply to marketable commodities such as tobacco, maize and sugar.

On 7 May 2022, President Emmerson Mnangagwa announced in his State of the Nation Address (SONA) the suspension of lending by banking institutions, building societies, development finance institutions, deposit-taking and credit-only microfinance institutions to the Government and private sector

Banning lending facilities is one of the measures that the government introduced to restore confidence, preserve value and restore macroeconomic stability.

The announcement triggered outrage with the public saying they were no longer able to carry out their projects such as farming. The central bank clarified:

Suspension of lending facilities does not apply to marketable commodities such as tobacco, cotton, sugar, maize, etc. All banks have been advised accordingly.

All banks have been advised as was previously advised by RBZ on Monday 9 May 2022.

The RBZ also noted that the suspension of lending does not apply to offshore drawdowns.

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16 Comments

Asalif 1 month ago

Ndiregerereiwo fellow Zimbabweans I announced this in fear of the so called shut down even mushika-shika wait for a date to be announced so that we first ammend a statutory instrument for you to be back on the road


Jabu Siziba 1 month ago

What do they mean by policy inconsistency or bush economics?


Mafirakureva 1 month ago

.... and the lending prohibition does not apply to Kuda Tagwireyi 😇😇😇


e.g john chibadura 1 month ago

MWOS economics


Report abuse 1 month ago

Abuse of power.


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Chimboti Pizza 1 month ago

Vote CCC for change


👽 1 month ago

zvinhu zvacho amheno kuti zvirikufamba sei


Machiavelli 1 month ago

Funny peculiar not funny hahaha 🤣🤣

The King of Serpents 1 month ago

We are being led by clowns, and not the funny party clowns but those in horror movies.

Skuz Apo 1 month ago

stitching the butthole to stop diarrhorea, hazvibude


dacker 1 month ago

vote for CCC ,we da wanna hear such nonsense lyk dat .


Kopo 1 month ago

Yaa dicord yachoso


g 1 month ago

eheka hanti ndimi mune mafarms saka muda kuramba muchikwereta. manje zvichapera. dira Hako rizare wangu


twabam 1 month ago

kkk government so


chiurai 1 month ago

All animals are equal but some are more equal than others


Jah🇿🇼Tsvarie-07 1 month ago

Revised 😀 coz companies came with a counter attack by also stopping creditors...



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