Zimbabwe: Agriculture, Transport Guzzle 52 Percent of Bank Loans

Harare — The transport and communications sector along with agriculture have been the major destinations of financial sector loans in Zimbabwe, a recent report showed as the Construction Industry Federation of Zimbabwe (CIFZ) claimed last week its members were being snubbed by local banks.

A report by CIFZ said the agricultural sector and the logistics industries had taken up a combined 52 percent of loans extended by financial institutions during the period ending April 30 2010 with the transport sector taking the biggest share of the loans at 27 percent.

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