Business

Defaulting KCM affects suppliers

KALONDE NYATI, Lusaka
KONKOLA Copper Mines (KCM)’s failure to dismantle its US$260 million debt owed to mine suppliers and contractors has resulted in some companies failing to pay loans they owe commercial banks.
Mine Suppliers and Contractors Association president Augustine Mubanga said the debt, which has accumulated over a period of three to four years, has made it impossible for the businesses to pay back after borrowing from lending institutions to supply various goods and services. http://epaper.daily-mail.co.zm/

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