RBZ to introduce lending facility for SMEs

THE Reserve Bank of Zimbabwe (RBZ) this week said it plans to introduce a lending facility for small and medium size enterprises (SMEs).
The bank has also been working on a national collateral registry to allow borrowing without the need of immovable property, which is expected to be a “gamechanger” for SMEs.
“The Monetary Policy Committee (MPC) resolved to put in place a term lending facility to assist funding needs of SMEs benchmarked on the experiences of other central banks,” reserve bank governor John Mangudya said in a statement following the recently constituted MPC’s inaugural meeting last Friday.