Economy

Economy | Atlas Mara, Stanbic And Indo Zambia Banks Get Biggest Chunk Of Stimulus Package

Lusaka ~ Fri, 25 Sept 2020

By ZR Reporter

The Bank of Zambia has disclosed that three commercial banks have so far collectively benefited K1.3 billion from the K10 billion stimulus package being administered by the Central Bank.

According to a Status Update Report circulated by the BoZ, estimates are 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 K533 million, followed by
Stanbic Bank which is the second largest beneficiary with K494.4 million and
Indo-Zambia Bank is third with K323 million.

The Bank of Zambia has so far disbursed K1.8 billion of the K10 billion stimulus package.

Six commercial banks and five non-banking institutions accessed the funds as at September 22, 2020.

The Central Bank has also approved K6 billion 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 K7.1 billion.

One Response to “Economy | Atlas Mara, Stanbic And Indo Zambia Banks Get Biggest Chunk Of Stimulus Package”

  1. Moses Kabambala

    This is good news for our economy.

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