The Reserve Bank of Zimbabwe has identified three banks that will work with Government to avail student grants at higher and tertiary institutions in the country.
In an interview with Sunday News on Friday, RBZ Governor Dr John Mangudya said discussions with the three banks were now advanced and what was left was how the loans will be structured. Most universities open for the start of their academic year in August where they are expected to absorb thousands of candidates whose A-level results were released last week. Said Mangudya:
It is still work in progress. We are in discussions with financial institutions to come up with a structure for the loan scheme. We have identified three financial institutions and we are happy with the way discussions have been going. It’s difficult in finance to give specific timeframes because there are a lot factors involved. We will announce details as soon as the discussions are concluded. The target is for the loans to be available as soon as possible.
More: Sunday News