BUUMBA CHIMBULU writes
ZANACO has launched financial package reliefs which seek to ensure that its customers’ cash flows are cushioned in the medium term by extending loan repayment holidays among others.
This follows the K10 billion stimulus package which has been made available by the Bank of Zambia to commercial banks to cushion the COVID-19 impact on businesses.
Zanaco Acting Chief Executive Officer, Lishala Situmbeko, said the relief options would include the extension of loan tenures, refinancing of loans and loan repayment holidays.
Mr Situmbeko said the relief would be available to the Bank’s personal, business banking and corporate customers who had been existing loan facilities.
“The impact that the COVID-19 pandemic has had on individuals and businesses cannot be ignored and it calls for all of us to be supportive of each other.
“As a Bank, we recognise the need to support our customers at a time like this, because it is not business as usual,” he said in a statement.
The bank’s support, Mr Situmbeko said, would not end at financial relief but would include business coaching and investment guidance.
He assured the Bank would ensure that its customers’ growth was not halted during the COVID-19 pandemic period.
“Zambia is our home and our focus has always been to ensure that country’s growth,” Mr Situmbeko said.
