Livestock, cars to unlock bank loans

As previously moved on this platform, government is now moving to ensure that the Movable Property Security Interest Bill is passed into law to support the collateral registry set up by the Reserve Bank of Zimbabwe.

President Mugabe as he officially opened the Fourth Session of the Eighth Parliament said entrepreneurs without immovable property like houses will soon be able to access loans from financial institutions using vehicles, livestock and furniture as collateral security once the proposed Bill is ascended into law.

The envisaged Bill is one of the 35 pieces of legislation that the President Mugabe said would have to be considered by the Legislature during this session.