Ecobank bails out local industry

ECOBANK Group says its Zimbabwean operations supported various sectors of the economy, disbursing letters of credit (LCs) and guarantees amounting to US$320 million for the year ended December 31, 2021. Local companies have long been using the LCs to finance international trade where the Reserve Bank of Zimbabwe (RBZ) was the underwriter, assuming the counter…

Subscribe to read full article. Subscribe today

Related posts

Liquidity constraints choke ART operations

ZiG losses widen OK Zimbabwe’s forex debts

Invictus gets EMA nod for Cabora Bassa project