Chinamasa: SA banks taking advantage of Zim

Posted: 10th April 2015/Under: News/By: SPII

By Jenni Evans —

Pretoria – Zimbabwe’s finance minister Patrick Chinamasa on Wednesday criticised South African’s banks for wanting to charge more when its neighbour approaches them for loans.

“Your financial institutions make it more expensive than when they lend to their own clients here,” he said after agreements were signed between the two countries at the Union Buildings in Pretoria.

“What is the justification for money going across the border being more expensive than when [in] Limpopo?” he asked journalists after Zimbabwe’s President Robert Mugabe and South Africa’s President Jacob Zuma had addressed the media on relations between the two countries.

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