Business / Companies
Electronic transactions hit US$5.5bn says RBZ Governor
28 Jul 2016 at 19:11hrs | Views
The Reserve Bank of Zimbabwe says electronic transactions have hit US$5.5 billion in the first six months of the year which shows a positive response in the use of plastic money while point of sale machines number just over 19 000.
The figures from the central bank on the use of electronic transactions show that there has been a good response from the country's citizens while also retailers and other service providers continue to install point of sale machines for easy transaction.
Briefing captains of industry at a Confederation of Zimbabwe Industries meeting, Reserve Bank of Zimbabwe Governor Dr John Mangudya says electronic transactions reached US$5.5 billion in the first six months of this year by which is a significant increase.
Dr Mangudya noted that there is need for the manufacturing sector to increase productivity which is key towards promoting industrialisation, adding monetary authorities are targeting to pay the US$1.8 billion of arrears to the African Development Bank and World Bank by October this year.
The manufacturing firms have been constrained owing to unavailability of long term funding while government is seriously looking into re-introducing the Zimbabwe Economic Trade Revival Facility in partnership with regional financial institutions as a way of funding the productive sectors of the economy.
The figures from the central bank on the use of electronic transactions show that there has been a good response from the country's citizens while also retailers and other service providers continue to install point of sale machines for easy transaction.
Dr Mangudya noted that there is need for the manufacturing sector to increase productivity which is key towards promoting industrialisation, adding monetary authorities are targeting to pay the US$1.8 billion of arrears to the African Development Bank and World Bank by October this year.
The manufacturing firms have been constrained owing to unavailability of long term funding while government is seriously looking into re-introducing the Zimbabwe Economic Trade Revival Facility in partnership with regional financial institutions as a way of funding the productive sectors of the economy.
Source - zbc
