Of the few firms that did manage to secure finance, four in ten planned to use credit to manage cashflow, considerably more than the numbers planning to use funds for equipment updates, expansion, or recruitment.
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Zimbabwe’s president orders banks to stop lendingIn February 2019 an American dollar was officially worth 2.5 Zimbabwe dollars. Now the main official rate is around 160 and the black market rate is between 350 and 450 'We buy worn out U$D and old notes'. I'm in zim if you give them a torn 100usd they'll give you 50usd. Wtf, this ain't go fund me. How they gonna make money? 😲
Source: TheEconomist - 🏆 6. / 92 Read more »
Small firms 'jumping through hoops' to get loansOne firm tells of its struggles as a survey suggests lending to small businesses has hit an all-time low.
Source: BBCNews - 🏆 3. / 97 Read more »
Zimbabwe’s president orders banks to stop lendingIn February 2019 an American dollar was officially worth 2.5 Zimbabwe dollars. Now the main official rate is around 160 and the black market rate is between 350 and 450 'We buy worn out U$D and old notes'. I'm in zim if you give them a torn 100usd they'll give you 50usd. Wtf, this ain't go fund me. How they gonna make money? 😲
Source: TheEconomist - 🏆 6. / 92 Read more »