By Susan Khainza 2020 has been, without a doubt, one of the most eventful years. It has been a been one breaking story after another. At the centre of all these events has been the outbreak and spread of the Corona Virus; that sent several nations into a state of panic and helplessness. Whereas the…
Daily Monitor
Tuesday May 11 2021
Summary
Covid-19. 2020 was a difficult year in the banking sector as borrowers capacity to repay loans was highly impacted by the pandemic.
Advertisement
Compared to tourism or education which continues to suffer the brunt of Covid-19 and the resultant containment measures instituted by the government to control the spread of the pandemic, the banking sector seems to be sailing through the tides rather unscathed as evidenced by the profit margins the industry players closed their accounts with.
Apart from banking and telecommunications, most economic sectors, including the Micro, Small and Medium enterprises continue to take a hit as the battle to contain the Covid-19 pandemic takes shape, thanks to the availability of a vaccine whose uptake remains disturbingly low.