Zimbabwe’s Exorbitant Bank Charges Choking Financial Inclusion – Report

HIGH bank charges imposed by local institutions are severely choking financial inclusion and contradicting best practices from other regional players, the National Economic Consultative Forum (NECM) report has revealed.

The NECF report, which analyses Zimbabwe’s financial inclusion infrastructure, identifies some of the pressing issues affecting the country’s banking public. For instance, over and above the fixed monthly charges, an amount of US$3,00 is charged for every US$100 withdrawn.

“The…