Fri, 02 Dec 2016 09:24:30 +0000 STANBIC Bank Zambia has launched a business banking service to assist local contractors access long-term funding of up to K500, 000 without tangible collateral, says chief executive officer Charles Mudiwa. Mr Mudiwa said modern infrastructure was an essential component of economic and social growth which called for substantial capital investment. He said the new product was therefore designed to address some of the financing challenges faced by contractors and others in obtaining long-term funding. “The backing of financial institutions in the sector will help create confidence by players in the sector through the provision of competitive and insured financial facilities and services such as guaranteed in the form of bid bonds,” he said. He said construction of roads and other infrastructure was essential to the progressive development of the country. And Minister of Infrastructure and Housing, Ronald Chitotela, said there could not be meaningful development without proper infrastructure as […]
Stanbic Bank launches financing support for local contractors
