MICROLENDER, Success Microfinance Bank (Success) incurred an inflation adjusted loss of $196 million for the year ended December 31, 2020, weighed down by cost increases.
Zimbabwe experienced its second episode of hyperinflation in a decade last year, with inflation peaking at 836 percent in July.
Success last week said its operating expenses were up by 486 percent to $41 million during the year.
Advertisements
Maureen Chitewe
Subscribe to The Financial Gazette
This is premium content. Subscribe to read article.
Login if you have purchased