Ziso applauds interest reduction

The Zimbabwe Informal Sector Organisation (Ziso) has welcomed the reduction of interest rates on bank loans, but called for special treatment for mining, women’s initiatives, farming and manufacturing sectors.

In his Mid-Term Monetary Policy review statement, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said banks had agreed to interest rate guidelines that would see loans being given at a cost of between 6% and 18%. This will take effect from October 1.

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