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Micro Finance Institutions confident they will access funds from BOZ

Written by on June 1, 2020

, The Association of Micro-Finance Institutions in Zambia says it expects some of its members to start applying to the Bank of Zambia to access the K10 billion stimulus package launched recently.

Association President Jetty Lungu said the initial terms and conditions were not friendly for Micro Finance Institutions but an engagement between the Central Bank and the Association has helped in relaxing some of the conditions.

Mr Lungu however said that because there are a number of terms and conditions, not all the micro Finance Institutions will immediately qualify to access the money from the Bank of Zambia.

He is also confident that with the restructuring of the loans by some Micro Finance institutions, most of them will be able to access the money.

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