(BREAKING NEWS )RBZ reduces interest for small and medium businesses (09-02-07)

THE Reserve Bank of Zimbabwe (RBZ) has reduced the rate of interest
levied in the provision of support to Small and Medium Enterprises (SMEs) from
70% to 50% per annum.
The Reserve bank said this was in order to bolster the Rural Banking
and empowerment programs through SME growth as

well as synchronize this
facility with the existing ASPEF meant for Agriculture.
This is also consistent with the Reserve Bank’s thrust of targeted
support, within the broad framework of advancement of economic growth and
Under the $16 billion SME Facility,  $5 billion was earmarked for women
SME entrepreneurs, $5 billion is earmarked for the Youth in the SME Sector
and $6 billion is earmarked for all the other SMEs.
The SME sector players were called upon to take advantage of this
supportive measure and empower their communities. The SME sector represents the
greatest area of opportunity for the development of the economy through
broad-based empowerment of the low-income groups.

Economies in Asia and the Middle East, for instance, have demonstrated
that through well-coordinated programs of intervention, the SME Sector can
be transformed into engines of growth and development.

Post published in: Economy

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