Business

‘Extend payout of K10bn facility’

KALONDE NYATI, KELLY NJOMBO
Lusaka
THE central bank should consider extending the disbursement of the K10 billion facility to credible associations to enable several small and medium enterprises (SMEs) affected by coronavirus to access the funds.
Zambia Institute of Chartered Accountants (ZICA) vice-president Cecilia Zimba said with some commercial banks allegedly denying some individuals and SMEs access to the facility, the initiative will be meaningless, hence the need to revise the process.
Mrs Zimba, who is an aspirant for the ZICA presidency, said in an interview on Thursday that the disbursement channels could be extended to associations such as Zambia Chamber of Commerce and Industry, Zambia National Farmers Union and trade organisations so that more entities and individuals could have access.
The Bank of Zambia (BoZ) announced the Targeted Medium-Term Refinancing Facility with an initial amount of K10 billion to provide medium-term liquidity in light of CLICK TO READ MORE


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