By BUUMBA CHIMBULU and IRVIN MUYUMBWATHERE has been slow uptake amongst Small and Medium Enterprises (SMEs) of the K10 billion stimulus package recently released by Government, Finance Minister Bwalya Ng’andu has said.And Dr Ng’andu said Government had increased the number of Non-Financial Institutions that will lend money under the K10bn lending facility.Commercial banks, according to Dr Ng’andu were expected to peg the interest rates for funds obtained from the facility around 16 to 17 percent.Interest rates on the market are currently hovering between 28 and 30 percent.He emphasised that the facility was for both existing and new businesses.Dr Ng’andu however bemoaned the low uptake, saying this was because the information had not permeated to the SMEs since the fund was released while others still prefer getting such financing from non-financial institutions.“What we have noted is that since the announcement was made, the uptake has been rather slow and what we are trying to do now […]
‘SMEs shunning K10bn package’
