Zimbabwean factor planning cross-border expansion; seeks external investor


Life in Zimbabwe is increasingly difficult due to the catastrophic economic difficulties, not only on a personal level but also in business. A fifth consecutive year of contraction grips the country. Hyperinflation has set in with levels around 300% currently and with 2003 estimates for consumer price inflation heading towards 500%. Disastrous economic policies have resulted in severe shortages in foreign exchange, fuel and basic food. Mass starvation faces more than half the population.

However, this contrasts with the surrounding region, with the successful election and transition in Kenya and progress made in resolving protracted conflicts in Angola, the Democratic Republic of Congo (DRC) and Burundi.

First Factoring Company of Zimbabwe has always planned to develop into a regional factoring enterprise and has already set up an office in Malawi and is preparing to open up in Zambia. Offices in other surrounding countries are planned.



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