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Home » Microloan wave worries RBZ
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Microloan wave worries RBZ

written by Almot Maqolo, Staff Writer 0 comments
According to the Reserve Bank of Zimbabwe, the country continues to record strong foreign currency inflows, with foreign currency reserves backing the ZiG reaching about US$1 billion.
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THE Reserve Bank of Zimbabwe (RBZ) has raised concerns over increasing over-indebtedness among consumers using microfinance institutions.The central bank has warned that consumers borrowing from multiple lenders using the same payslip could jeopardise the financial health of both borrowers and lenders, creating systemic risks for the sector.“The Reserve Bank has noted high levels of over-indebtedness…

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