ZIMBABWE’S retailers are considering reintroducing credit facilities after they were granted licences to sell goods in foreign currency, the state-controlled Herald reported on Wednesday.
Retail sector players told the newspaper that the development was in response to an improvement in stock levels.
‘The view at the moment is on who should be considered for credit as not all workers are being paid in foreign currency.
‘Naturally, there will be a bias towards those people who are earning in foreign currency or those that have access to foreign currency.’
According to retailers, if the government decided to pay civil servants in foreign currency, ‘then this will naturally give the credit facility the major boost that it requires as these were the major players in terms of the facility before it was suspended’.
Retailers told the Herald they would also consider extending credit facilities to holders of foreign currency accounts or international debit cards.
Credit facilities were suspended in October 2007 due to operational losses that shops were incurring as a result of price controls in a hyperinflationary environment, the newspaper said.
– Nampa-Sapa
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