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Alba Iulia
Thursday, October 22, 2020

Bank of Zambia disburses 1.8 billion of the 10 billion Kwacha Stimulus Package

Economy Bank of Zambia disburses 1.8 billion of the 10 billion Kwacha Stimulus...

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 beneficiaries 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.

12 COMMENTS

  1. A lot more mula to dish out. We do this for our people as the patriotic government. The entire world is feeling the economic bite. We ask our citizens to exercise patience. We thank you for your understanding. Had it not being for privatisation crooks this country would be richer than it is. Kz

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  2. They give the money to banks & claim it’s stimulating the economy? What lack of thinking is this? When did Zambian Banks run the economy? Even if they did. In pf dreams, how do these Zambia banks go about stimulating the economy in Zambia were the majority are in in the streets & broke? This govt is a waste of time sure

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  3. Broad day robberies, and you voters are clapping.
    So most of PF ministers bank still launder money at Atlas Mara? It is a sin to live in Lusaka.

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  4. Yobo – Clearly you have no idea how money dustribution works. This is the work of Banks. Question why non-priority sectors are included and non-banking institutions.

  5. @Kaizar Zulu has chased all smart bloggers on Lusaka times….now with his big head just him alone commenting on every topic all day..we had BR Mumba sr, 2020 vision, Tarino,Spaka like lilo, Cat Power, Katondo boys etc….all vanished because of dunderhead Kaizar Zulu wannabe

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  6. Well said Anonyous ………KZ is a dreamer and political stooge ……. Talks absolute rubbish like all politicians in Gov..
    Let them carry on for Zambia to come up it must go down, we nearly at the bottom,
    So Pf should continue so when when you go Kaunda style , we can then hope for better days

  7. Tikki ati kaunda style kiki. You are still living in that federal mentality. You are very behind my friend. Pf will rule for the next 100 years.

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  8. @Kaizar Zulu ….Kwena umuntu uyu alitumpa sana sana. Remember power in a democracy always changes hands whether you like it or not. Your time will soon arrive. And don’t run away stay put as HH as shown you stooges. HH ninshimbi.

  9. @Kaizar Zulu ….Kwena umuntu uyu alitumpa sana sana. Remember power in a democracy always changes hands whether you like it or not. Your time will soon arrive. And don’t run away stay put as HH has shown you stooges. HH ninshimbi.

  10. Where is this Money going to come from? Is BOZ going to borrow or print this Money. Printing Money is highly inflationary and the Kwacha will depreciate sharply. Prices and goods are going to skyrocket. The writing is on the wall.

Comments are closed.

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