Telone Reduces Interest To Businesses On Bills From 2009

By Alvine Chaparadza

Government-owned Telone has softened its stranglehold on debtors by reducing interest rates on their arrears that were accumulated in 2009. Many businesses and individuals are saddling huge debts that were incurred before the dollarization era. The debts have been a moot issue because debtors say that their debts were inflated following the transition from the Zim Dollar pricing to US Dollar pricing era.

Zimbabwe National Chamber of Commerce (ZNCC) has reported that the interest rates of the Telone debts will fall from 3% to 0.04% and the reprieve will only affect businesses but sidelining households.

ZNCC, Branch …read more

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