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*Multi-lateral finance institutions charging high interest rates to Zimbabwean borrowers* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?hz Minister of Finance and Economic Development Patrick Chinamasa, has bemoaned the high interest rates that are being charged by multi-lateral finance institutions when lending Zimbabwean private companies. He noted that other countries get favourable rates, sometimes as little as 2-3% while Zimbabwe got as high 10-12% interest rate. According to Chinamasa, the institutions are biased against Zimbabwe. ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- The Minister was speaking about the $80 million facility that had been availed to the private sector in Zimbabwe by the Europe Investment Bank (EIB). He said > Zimbabwe’s problem is risk, if they are lending to Zambia, the interest rate will be two to three percent. But if they are lending to us the rates will be 10-12 percent, and that is a huge difference. > This is not only with respect to capital loans but even for working capital for our private sector More: Chronicle itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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