‘Credit profiling must be mandatory’

THE Zimbabwe Asset Management Corporation (ZAMCO) was established by the Reserve Bank of Zimbabwe in July 2014 as part of measures to curb rampaging non-performing loans (NPLs) in the banking sector. This was after the NPL ratio had reached an alarming 20 percent.As at October 2017, after it stopped assuming the toxic loans, the special purpose entity had acquired NPLs amounting to staggering $965 million. The Financial Gazette’s business reporter, Omega Ukama (OU), interviewed the Corporation’s chief executive Cosmas Kanhai (CK) to get insight into how the entity is recovering the lost money, as well as other matters to do with the bad loans.