CBZ Holdings (CBZ), Zimbabwe’s largest financial services group, says it will lean on US$ lending and other business lines for the foreseeable future, as inflation has become a major hindrance for ZWL lending.
Zimbabwe’s annual inflation rose to 131,7 percent in May, hitting three digits for the first time since June last year.
This was a sharp increase from 96,4 percent in April and up from 72,7 percent in March, and 60,74 percent in December.
On a month-on-month basis, the inflation rate, at 21 percent, was up 5,5 percentage points on the April 2022 rate of 15,5 percent, marking the highest monthly rise in a year.
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CBZ chief executive Blessing Mudavanhu
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