Categories: Stories

Fake US$2 billion loan facility for Zimbabwe small business makes waves

A fake story about a US$2 billion loan facility for small businesses in Zimbabwe purportedly from the International Monetary Fund has been making waves on the internet and has been published by at least two local online news sites.

Zimbabwe fact-checking organisation Zimfact says the story could be a ploy to harvest personal details of Zimbabwean businesses.

It says the Ministry of Finance has confirmed that the story is false. No such facility has been announced.

Zimfact says this is not the first such fraudulent post.

A similar post appeared earlier in June claiming that USAID was giving out grants to Zimbabwean businesses.

(186 VIEWS)

This post was last modified on June 26, 2020 10:49 am

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

Is it true that 4 million Zimbabweans went without food on several occasions last year?

At least four million people in Zimbabwe reported that they had gone without food on…

November 5, 2026

Did you know that four of the world’s largest banks are all in China?

Four of the world’s largest banks are all in China. Assets of the Industrial and…

October 15, 2026

Zimbabwe one of the 27 countries in the world where the richest 0.1% has more wealth than the bottom 80%

Zimbabwe is one of the 27 countries in the world where the richest 0.1% of…

October 2, 2026

Zimbabwe third among the least free countries in SADC

Zimbabwe has been ranked third among the least free countries in Southern Africa but it…

May 24, 2026

Why I had a girlfriend two months after my wife’s death- Take 1

I had always considered it a curse for a wife to die before her husband.…

May 18, 2026

Why I had a girlfriend two months after my wife’s death

This is a true story about the challenges and loneliness I faced when my wife…

May 17, 2026