RBZ establishes collateral registry for moveable assets

The Reserve Bank of Zimbabwe (RBZ) has established a Collateral Registry for movable assets to expand the range of qualifying collateral accepted by lenders.

This is as part of the broader reforms to promote access to finance and enhance financial inclusion.

Acceptable assets include livestock, household goods, crops, business stock, and accounts receivable.

This has been revealed during the second Annual Financial Inclusion Conference, in Victoria Falls which is focusing on practical steps that need to be taken to expand financial inclusion.

In a speech read on his behalf by the Deputy Minister of Finance, Economic Development and Investment Promotion, David Mnangagwa, Guest of Honour at the conference, Finance, Economic Development and Investment Promotion Minister, Hon Prof Mthuli Ncube highlighted some of the initiatives that the Government, in collaboration with the RBZ, has taken to promote an inclusive economy.

The initiatives include the Capitalisation of Strategic Institutions, Devolution, Gender Equity, Infrastructure Development, and Financial Digitalization and Innovation.

The overall objective of the Conference is to provide an opportunity for the Bank and its stakeholders to discuss topical issues in implementing the National Financial Inclusion Strategy (NFIS) II and showcase initiatives being undertaken by stakeholders.

RBZ Deputy Governor Dr Jesimen Chipika took opportunity to unpack financial literacy initiatives that the RBZ and its partners have been implementing.

These include establishing a Financial Literacy Thematic Working Group, Financial Literacy in Education Curricula, Global Money Week Activities, High school visits to the RBZ, Roadshows and Community Engagements, and the National Financial Literacy Strategy, among others.

Zwnews