RBZ Urging Banks To Revise Down Interest Rates

By Alvine Chaparadza

The banking sector is in a good momentum characterized by its profitability last year. Shrewd investments and lending practices have significantly reduced non-performing loans and prop the banking sector’s profitability. The shrewd practices have consequently lowered the number of loans released into the economy.

However, the Reserve Bank of Zimbabwe is reportedly in discussions with Bankers Association of Zimbabwe to lower interest rates on loans in productive areas of the economy.

Speaking at the Zimbabwe International Trade Fair (ZITF), Vice-President Constantino Chiwenga said:

The Reserve Bank of Zimbabwe has also engaged the Bankers’ Association of Zimbabwe to reduce interest …read more

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