Financial group CBZ Holdings says it has invested $156 million in small and medium-sized enterprises (SMEs) since dollarisation in 2009, with a current loan book of $37 million.
“Since dollarisation we have put an excess of $156 million into various SME activities in the form of loans, training and other related activities. The performance by the SMEs has been good to an extent that of the $156 million we have extended since dollarisation we are sitting on a current book of $37 million with a default rate of less than one percent,” chief executive Never Nyemudzo told journalists yeaterday.
Speaking at the same event Minister of Small and Medium Enterprises and Co-operation Development permanent secretary Evelyn Ndlovu said that government has set aside $15 million lines of credit in treasury bills to support SMEs.
Zimbabwe SMEs contribute 60 percent to the national gross domestic product (GDP) and employ about 80 percent of working adults but often lack better quality control, technology and skills.-The Source
(35 VIEWS)
Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…
Zimbabwe is among the top 30 countries in the world with the widest gap between…
Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…
Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…
The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…
Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…