ECOBANK Group says its Zimbabwean operations supported various sectors of the economy, disbursing letters of credit (LCs) and guarantees amounting to US$320 million for the year ended December 31, 2021.
Local companies have long been using the LCs to finance international trade where the Reserve Bank of Zimbabwe (RBZ) was the underwriter, assuming the counter risk of the buyer.
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In 2021 Ecobank Zimbabwe Limited supported various sectors of the economy.
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