Business Reporter
THE Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction this week allotted a total US$2, 5 million to the SMEs segment, sustaining the commitment to stimulate productivity in the country’s most populous economic establishment.
Zimbabwe’s fast growing informal sector is now the country’s largest employer as the economy worsens but lack of coordination and assistance from the government and other stakeholders is hindering small entrepreneurs from attaining full potenti
A trading update released at the close of trading Tuesday shows that a total US$19,8 million was allotted on both the Main and SMEs Auction platforms.
The number of bids received on the SME Auction was 212 with a total value of US$2, 5 million
with the highest rate received reaching US$1 to ZW$996 and a low of ZW$910.
On the Main Auction platform, raw materials and machinery were allotted US$9, 5 million and US$2,4 million respectively.
The Zim$ depreciated slightly by 0, 51% from the figure of ZWL907,92 recorded last week to the current ZWL912,58.
