Business

Zambia’s lending value stands at K43bn

ESTHER MSETEKA, Lusaka
ZAMBIA’S lending total value to the private sector and Government by the banking sector stands at K43 billion as at June this year.
Out of the K43 billion, K24 billion was given out to the private sector and individuals while K19 billion was given to Government through securities and bonds.
Bankers Association of Zambia (BAZ) says currently, the differences in the amount of money given to individuals, the private sector and Government is K5 billion.
BAZ chief executive Leonard Mwanza, however, said despite the industry lending out such huge amounts, it is one of the most taxed sectors at 35 percent without incentives for any investors bringing in capital.
Mr Mwanza said this at the launch of two studies dubbed ‘Sector-level marginal effective tax rates and investment incentives in Zambia’ and ‘Performance of the multi-facility economic zones conducted by Consumer Unit and http://epaper.daily-mail.co.zm/




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