Wed, 07 Jun 2017 11:47:19 +0000 ZANACO stakes K300m to drive SME growth By MAILESI BANDA ZANACO has pledged to increase lending by a further K300 million to Small and Medium Scale (SME) business people. The bank’s chief executive officer Henk Mulder announced that they had increased the lending by a another K300 million to the productive sector of the economy. Mr. Mulder said ZANACO welcomed the strong positive actions taken by the Central Bank to spur economic activities in the economy, adding that the action would turn around the economy especially in relation to credit and the private sector. He explained that following the announcement by the Bank of Zambia to lower the monetary policy rate from 14 percent to 12.5 percent and reducing the percentage of deposits banks require to hold as reserves from 15.5 to 12.5 percent, the bank had decided to help the productive sectors of the economy attain growth. […]
