Consumer rights watchdog, Consumer Council of Zimbabwe (CCZ) has cautioned consumers against uncontrolled spending ahead of the festive season to prevent debt.
As clothing stores, retailers and service providers gear up for the festive season, CCZ has advised workers to be cautious with their earnings to avoid the debt trap.
CCZ Executive Director, Ms. Rosemary Siyachitema said consumers should plan ahead for the coming two months in order to avoid the hassles of borrowing from loan sharks.
Since the transition to the multi-currency system in 2009, the festive season has been characterized by high spending following a downturn during the period of hyper-inflation.
Consumers are however still saddled with low disposable incomes at a time when most service providers are operating on a cash basis giving momentum to borrowing from micro-lending institutions that charge high interest rates.Â Â