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The move was among a raft of measures introduced by the central bank to reduce reliance on cash transactions at a time when its circulation is low in the formal sector.
“The increase in bank loans and advances may not have the desired impact on the economy judging from the economic stagnation experienced in the same period,” he said.
Economist Prosper Chitambara predicted a positive trajectory for the banking sector compared to the previous year, driven by the projected 6% economic growth.