Q FM Africa's Modern Radio
ZANACO Retail Director Chibotu Chiyasa
ZANACO has launched a new promotion dubbed “Double Beula” aimed at enabling Small and Medium Enterprises (SMEs) save up to six months and get a loan of double the amount of their savings to be repaid in 12 months.
The promotion will enable SMEs to get the business loans as high as K100, 000 without collateral which will run for six months.
Speaking during the launch in Lusaka today, ZANACO Retail Director Chibotu Chiyasa has explained that the promotion is targeting Small Businesses as a way of encouraging them to build deposits over a period of six months and reward them with loans at the end of the campaign.
Mr. Chiyasa says the culture of saving is key to prosperity and ultimately financial freedom and that as a bank, they are proud that they are encouraging this positive behavior.
Speaking earlier, Africa Development Bank (ADB) Representative Damoni Katabire says the bank has over the years partnered with financial institutions such as ZANACO to leverage this opportunity to support microfinance activities and enhance the support it provides to social businesses in the context of inclusive growth.
Mr. Katabire says the ADB remains committed to supporting the Small and Medium Entreprises sector and sees the launch of the Double Beula Promotion by ZANACO as one of the main areas where it can partner with financial institutions to reach out to the small and medium enterprises.