Zimbabwe: Poor Interest Rates Undermining Savings

18 December 2013

THE disparity between lending and deposit rates in Zimbabwe is widening, dampening the already weak savings culture in the country and a speedy economic recovery, figures from the Reserve Bank revealed.

According to the bank's weekly economic review, average lending rates were higher for individuals than for corporates, with commercial banks charging an average of 14,16 percent for individuals and 9,45 percent for corporates.

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