GOVT 8 Tuesday26

BUUMBA CHIMBULU THE Bank of Zambia (BoZ) should in- voke a law which COMMERCIAL extends the matu- COMMERCIAL THE rity of loans as most busi- U N K10 I T billion E D emergency Kingdom based facili- GOVERNMENT ty investment has potential adto spur visor growth managing in a African suppressed agricultural environment funds, SilverStreet, through lower has funding pumped costs. a K91 million investment into the Zambia Seed Company (Zamseed) to assist expand its operations. BUUMBA CHIMBULU GOVERNMENT

CANCEL

banking results for the first quarter of 2020

banks should con-

reflect a deteriorating

sider should extending cancel the macroeconomic US$2.5 million existing gold loans processing for

environment resolved investment their clients contract as a fiscal and stim- offload shares from the credit impairment on ulus the for stock has market launched for Zambians a relief Covid-19 to

businesses that

stocks that institutions have buy, have package says for Emerald customers, and Semi-Precious offering them

The been Bank adversely of Zambia affected (BoZ)

provided. Stones by on free calling, Mining messages Association and of free Zambia data

the April current 3 this coronavirus year, an-

Banks have had their first (ESMAZ). (COVID-19), nounced usage.

stimulus Economics monetary

quarter earnings eroded Association measures ESMAZ Under president, this to support package, Victor financial all Kalesha, Zamtel mobile said

of Zambia (EAZ) by This knocks brings they SilverStreet’s have taken it has system prepaid was unfortunate stability customers following that would local the receive people free who five

advised. total outbreak from investment downgrade of Covid-19. into risk Zambia as they discovered Minutes On-net the gold calling, deposits 50 MB had of data been and

EAZ Financial Analyst, since Economist align 2013 their to lending over K2.2 models Strategist, billion. to chased a A further Strategist away 10 On-net and labeled Financial SMS’s as illegal part of its reflect SilverStreet’s the credit rating Chief from miners. Mutisunge Analyst, corporate Mutisunge social responsibility Zulu, said during significantly. this

Zulu, said com- Investment mercial the international facility provided rating Officer, agencies, latitude Gary Zulu period. “As a country, we have not even “In come layman’s terms, the

banks should consider fa- Vaughan-Smith, out restructuring for said of Economics the shame Association of selling KCM of to

existing loans said to provides latitude for ZAMTEL lending Chief rates Executive to reduce Officer, cility

Zamseed’s Vedanta assist which Zambia would (EAZ). at US$25 million and we have not

their high clients quality cushion seed the to ebb lower Sydney EAZ National Mupeta, support Secretary, said domes- the offer would lending be rates would yet COVID-19 tic available credit. resolved benefit to the all active puzzle smallholder customers surrounding which with the no will

impact. support domestic farmer’s sale Mutisunge of Kagem Zulu, and warned we that start up another

“We project incomes to see yet through more ultimately eco- conditions Interest rates attached on the and mar- would credit be valid and higher mistake and ket credit more yields appetite of private giving declined shares sector more play- to each a foreign

up are to midnight currently and on hovering a the selected robe- nomic days. growth especially in a bust company ers tween time such performance Zambia as at commercial US$2.5 was in downgraded million,” variable banks he said in a

Mr Mupeta 28 and 30 explained percent. that customers suppressed environment post conditions statement. that by credit should rating be agencies. restructuring would Mr Zulu, be able who to enjoy is also the an offer covid-19 on pandemic period,” he already “We Kalesha Zulu are loans is excited also to said small a to it strategist was support business time to empower Economist, Tuesdays, Mr indicated Thursdays that and fa- Sundays said. the as cility and they Zamseed artisanal financial discus small team’s with Analyst. the scale developclients. miners and allow

starting was this priced week. at 12.5 per- Mr Zulu explained that ment an cent “Much “That indigenous and will as expansion the be Zambian role a very of plans owned good company

The whose offer, spread he said, below would the allow the relief packages offered by and, to move Kwacha commercial supervise to that be aligned has banks them, happened buy with is to their oil the in gold and

customers curve to remain was an connected oppor- some with commercial banks were Government’s auction tunity the growth it. engine objective every to family for and yields friends to climb during down this difficult not any way fully linked to

nation period. through financing

A