Sundaymail Editor
Online Reporter
LISTED retailer OK Zimbabwe Limited has commended the Reserve Bank of Zimbabwe (RBZ)’s recent decision to cut interest rates from 200 percent to 150 percent.
“We welcome the reduction in interest rates pronounced by monetary authorities, and the envisaged further liberalisation of the willing-buyer, willing-seller foreign currency management system,” said OK Zimbabwe Limited in its third-quarter trading update to December 2022.
The RBZ had increased interest rates from 80 percent to 200 percent per annum during the second half of 2022 to curb speculative borrowing.
Bongani Ndlovu
Online Reporter