Given issues with cash flow, some businesses – including sugar manufacturing company Tongaat Huletts and dairy manufacturers Dairiboard Holdings – suspended advance sales and payments to contractors, triggering an increase in the price of foodstuffs.
While the ban was soon lifted, prices of basic commodities such as mealie-meal, bread and sugar have tripled and are now beyond reach for many Zimbabweans.
But as Panashe Chitumba, head of risk and corporate affairs, Stanbic Bank, says: “the negative impact of disruption to lending was minimal.
