Nedbank Zimbabwe MD confident in continued USD lending amidst currency system uncertainty.

Nedbank Zimbabwe's Managing Director, Sibongile Moyo, is confident in continuing to lend in US dollars amidst uncertainty over Zimbabwe's multi-currency system. Legal provisions allow for US dollar loans and repayments until 2030. The bank's loan book doubled since June 2023, with most loans being USD-denominated. Moyo acknowledges the need for increased local currency usage and awaits central bank approval for financial results.

August 08, 2024
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