Zimbabwe: Dealing With Debt

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Securing a loan is one way to finance and recapitalise a business so that it gets back on its feet. Seemingly "dead" companies have been revived this way. However, the current situation in the county may not be too conducive for you to borrow and acquire credit from many financial institutions due to the high interest rates charged.

I have a personal inclination towards avoiding borrowing or acquiring extensive loans given the state of affairs. I have seen a lot of empires crumbling under debt while a lot of loans are being borrowed to settle other loans, which creates a vicious cycle. If you find yourself borrowing to service another debt, it is a sign that you need to change how you operate.

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