BOZ PAYS PART OF K10BN STIMULUS PACKAGE

The Bank of Zambia has disbursed 1.8 billion of the 10 billion Kwacha stimulus package.

According to a Status Update Report circulated by the Central bank, six commercial banks and five non-banking institutions accessed the funds as at September 22, 2020.

The Central Bank has also approved six billion Kwacha which is expected to go to priority and non-priority sectors of the economy.

Meanwhile, 11 banks and 17 non-banks have applied for a total of 7.1 billion Kwacha.

The Central Bank estimates that over 16,800 individuals and households have benefited from the stimulus package.

One of the biggest beneficiary of the stimulus package is Atlas Mara which has been granted 533 million Kwacha.

Stanbic Bank is the second largest beneficiary with 494.4 million Kwacha.

Indo-Zambia Bank is third with 323 million Kwacha.

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