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"RBZ U-turn On Suspension Of Lending By Banks Confirms Policy Inconsistency" - CCC

Opposition Citizens Coalition for Change (CCC) led by Nelson Chamisa has said the government’s reversal of the suspension of lending by banks confirms policy inconsistency by the Zimbabwean government.

The party speaks after the Reserve Bank of Zimbabwe (RBZ) this Tuesday announced that the temporary suspension of lending by banks has been lifted with immediate effect.

In a statement, seen by Pindula News, the central bank’s governor, Dr John Panonetsa Mangudya said the suspension remains in effect for entities under investigation for abusing loan facilities. 

In response to the development, the CCC party said:

In our press briefing last week on the illegal announcement of “Economic Measures”, we warned that the policy was unlawful, ill-thought-out & would have a catastrophic effect on the economy.

The U-turn on this issue confirms what we’ve always said – policy inconsistency, bad governance & poor leadership are the root causes of the Zimbabwean crisis. Register to vote for ethical leaders in 2023

Finance and Economic Development Minister Mthuli Ncube had said the ban on bank lending announced by President Emmerson Mnangagwa last weekend was aimed at combating indiscipline in the financial services sector driving inflation and weakening the local currency.

The suspension of lending by banks attracted a public outroar with some saying the measures marked the demise of struggling local companies.

Most of Zimbabwe’s businesses import their commodities, including salt and laundry soap, since the local industry cannot meet the demand.

More: Pindula News

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Border Gaze 1 month ago

Fadzai Mahere zve...

chidhori 1 month ago

@ border gaze which fadzi.......

Chihera mukonde 1 month ago

Kkkk ndaseka zvangu hanz John Panonetsa asi vabereki vanotanga varota zviri mberi vozopa munhu zita here

JC 1 month ago

Imagine a woman who changes men like the way our gvt changes its polices

Mafirakureva 1 month ago

Chi H.u.r.e.


Border Gaze 1 month ago

Ngaachiroorwa hake musikana (Fadzi)

VYBZ KARTEL 1 month ago

Vote CCC for change

😖😖 1 month ago

@VYBZ KARTEL..... tibvire ndosaka uchirohwa nemukadzi hauna njere Nxaa

VYBZ KARTEL 1 month ago

Talk is cheap like iko ka ccc kasinawo direction kanokanganwa chazuro nehope what can you teach us when you don't have structures in your party what more if you run the country it will be a disaster

Jamie handbags 1 month ago

Mukomana chimbosiyai madrugs amuri kurowa

Dr Hercules 1 month ago

Confusion full stop

Dr Hercules 1 month ago

Confusion full stop

Chawabvunza 1 month ago

I will not shade a tear if ZANU PF bite the dust at the Harmonised Elections in 2023. His Excellency President ED MNANGAGWA is being led astray by import, Mthuli Ncube, who they brought back to ,take over as the head of the Portfolio of Finane as if we do not have have other qualified personnel in the country.


Chimboti Pizza 1 month ago

Emmer pfee panze peOffice
Vote CCC for change

Gafa 1 month ago

After 42 years in power another fool expect a miracle fro Zanu pf .They are outdated in every aspect .Ukaona uchiti Zim dora rinoita nestate of industry ndokupenga kokutanga

Rawbut Moogarbe Lite 1 month ago

Hapana policy inconsistency apa. Inga takati the ban was temporary. Pane zvataida kugadzirisa.

Angry citizens 1 month ago

radzika ere rate racho da*ko iwe

Mafirakureva 1 month ago

Chinengei chamaida kugadzirisa chamusina kutiudza? Ndiko kutamba nemaTuZvi pasina mvura. Kupisika neRazor.

Kusona musuri hakurape manyoka

The Terraces 1 month ago

No economy can develop by changing policies like diapers. Policies need to be thot out. This approach surely should be confined to ECD children who draw and rub at the same time because their stage of development allows them to do exactly that. Hanzi na the Late Great Tuku wongorora chaita musoro uteme - Ndopane dambudziko Mkoma.

yo yo nemasoja 1 month ago

ndaizviramba kut zanu inevanhu vasingafungi ndazozviona nhas

Chahototo 1 month ago

they made it clear from the onset that this was goit to be a temporary measure to flush out errand institutions. If you read the RBZ statement carefully ( putting your personal feelings aside) you will find out that there are some institutions that remain banned and have been advised as such. so you CCC fools will keep on yarping until you lose your voices while we build the country.
ED Pfeeeeee 2023

Mutoriro Movement 1 month ago

Not a normal being can support such kind of decisions. Look, just 2 days after their announcement, we have see a shortage of basic commodities in our local shops. All as a result of their immature policies.

Asalif 1 month ago

@Machiavelli powerful points my brother

Machiavelli 1 month ago

Whether it was temporary or not, it was a S.t.u.p.i.d decision. By that I mean it was never well thought out, no consultation done with relevant stakeholders. Not only that legality of the measures were questionable. Firstly the President is not the custodian of monetary policy. Secondly there wasn't a Statutory Instrument to put the order into effect. Thirdly the measures usurped the powers of Parliament to make legislation.

In this day and age you just don't wake up on the wrong side of the bed to settle hallucinatory scores with perceived detractors without an iota of evidence, without thinking of the legality of your waffle.

Kana sabhuku haatonge achidai

Hudy 1 month ago

Kumwe kungoda kucriticiser ngakusangowe out of habit.... considering the urgent situation yespeculation neinflation so they werent supposed to take measures? And anyway, i dont see mahere giving alternatives ever, except just singing the opposite of whatever is done!! If they had alternatives wanodii kuzvitaura muparliament tione zvikarambwa kana zviine musoro? Ngawasanoratidze ka parizvino kuti they do have substance kwete kungoti tivhoterei next year nxaaah!! Ini handichaziwe zvekuita panyaya dzekuvoter idzi! Someone convince please or i will just vote for zanu pf as i have always done in the past. Alternative yacho haina chairikundiudza chinobatika... its all “tikapinda mupower tichaita mareforms” api acho?? How??? Toguma tongoti better the devil we know coz things are hard but we are alive,,, watisingaziwe awo pamwe tichatofa nenzara

Da Truth 1 month ago

Shamwari vhotera hako Zanupf yako iyoyoo kkkkkkkk isu CCC yellow power 😜 CCC for our future isu mu Zim .

Mmmm 1 month ago

Only a fool votes for zanupf.

Asalif 1 month ago

guys don't think what you talk on social media platforms don't reach to their ears and eyes be it good or criticism so sometimes they dance to your tune they also need advice . it's like soccer , supporters are the best coaches and analysts

int 1 month ago

Sure with this invitation he is going to respond to questions so he will.b considered foolish over their decisions neEconomy

anonymous 1 month ago

tichingotonga muchingohukura

Da Truth 1 month ago

Newe uchahukura futi tarisa apooooo parosvika kutonga kunodadisa hoooo Hitler akatonga akapinda mumwena Hakuna anoziva kuti akafirepi , Saddam Hussein , Laurent Bhakbho,, Gaddafi and Bobo Chatunga . Zvikapera wani,,,,,,,,,kkkkkkkkkkkkklll the end had arrived now 😁

Murozvi 1 month ago

The reversal was caused by the invitation to Davos. Ed was going to look more foolish with other world leaders

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