RBZ moves in to boost SMEs

FINANCIAL institutions are now required to commit 30% of their loan book to spur growth for small and medium enterprises (SMEs) as the country turns to the sector to drive industrialisation, Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono has said.

Report by Tarisai Mandizha

Presenting his first Monetary Policy Statement of the year, Gono on Friday said the central bank would conduct monthly assessments to monitor compliance, threatening to take action against non-compliant banks.

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