Microloan wave worries RBZ

According to the Reserve Bank of Zimbabwe, export earnings dominated the basket of foreign currency receipts, averaging 59,7 percent.

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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