Business

Mazabuka businessman seeks BoZ intervention

KALONDE NYATI, Lusaka
A MAZABUKA-BASED entrepreneur has called on the Bank of Zambia (BoZ) to ensure that disbursement of loans under the K10 billion facility, which aims at cushioning effects of coronavirus on businesses, is not discriminatory.
Rahim Memorial High School proprietor Mubin Mukadam, whose loan was not approved by First National Bank (FNB) Zambia under the K10 billion BoZ credit line, said the facility will be meaningless if small and medium enterprises (SMEs) are denied access.
Recently, BoZ rolled out a K10 billion medium-term refinancing facility to be implemented by commercial banks aimed at cushioning the adverse impact of COVID-9 on priority sectors such as manufacturing, agriculture, energy, and tourism.
“I applied to borrow K300,000 from FNB Mazabuka branch, but after a week, I was told that I was not eligible because I do not have an CLICK TO READ MORE

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