Foreign loans excite National Foods

MILLING firm, National Foods Limited (Natfoods) says a recent decision by the banking system to offer loans in foreign currency will boost its operations.

Banks had restricted lending to Zimbabwe dollar loans since 2019 when the country reintroduced the domestic currency following a decade of a multi-currency regime.

However, hyperinflation, which reached a post dollarisation high of 839% in July last year, forced the financial sector to a rethink, with several banks now loaning out United States dollars to deserving clients.

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