“The country has only US$1.9 billion in deposits. This is a far cry from the US$4 billion that we expected to kick start our fragile economy,” Mushayavanhu said.
Mushayavanhu spoke as another prominent banker Sij Biyam told a business conference in the city of Gweru that ? failure by individuals and companies to bank money had contributed to the liquidity crunch.
Biyam said Zimbabwes economy had been informalised adding that, those in the informal sector hardly banked their monies with banks, instead they preferred to keep their monies under mattresses, leaving banks with unstable deposits. ??
He said that there was also need to avoid heavy marketing regulation as this has in the past had affected banks.
Post published in: Mining