ZIMBABWE’s banking sector is heavily invested in foreign currency-denominated loans, which account for 88,88 percent of total loans and advances, reaching ZiG27,45 billion by mid-2024, according to recent data.Advertisements The Reserve Bank of Zimbabwe (RBZ) Banking Sector Industry Report for the quarter ending June 30, 2024, states that banks have remained committed to funding productive…
Foreign currency loans dominate banks’ books
To meet the 2030 target, authorities must take deliberate steps to restore faith in the ZiG and create conditions conducive to a sustainable mono-currency system.