Financial difficulties feed loan schemes

The demand for personal and household loans in the country has increased in recent months on the back of a serious liquidity squeeze that has become the bane of the country’s multiple currency system.

Almost all formally employed Zimbabweans are in debt as most people’s salaries fail to satisfy their needs, forcing them to turn to their banks and loan sharks for bailouts. The turn of events has injected life into the local credit market.

This story is for NewsDay subscribers.