Bank Of Zambia Encourages Use Of Financing From Africa Export-Import Bank

afreximbank-factoring-zambia-trade-finance

The Bank of Zambia (BoZ) has encouraged local Zambian business owners to take advantage of financing offers from the Africa Export – Import Bank (Afreximbank) to further grow their businesses.

Afreximbank has historically been supportive of the Zambian economy and has provided a total of USD 556.51 million since 1993 in various investment projects to support sectors including mining, agro-business and electricity.

According to Dr. Michael Gondwe, Governor of the BoZ Afreximbank is currently offering opportunities for Zambian businesses to access new financing that will not only benefit their business, but will also help to stimulate the overall economic growth of Zambia.

“There is an outcry that most businesses do not have access to finance, but it’s inexcusable that they are not exploiting facilitates offered by Afreximbank,” he said.

Following the recent death of Zambian President Sata, Dr. Gondwe insists that the Zambian economy remains strong with healthy inflows of foreign direct investment helping to keep investors’ confidence in the economy high.

 “If there were any situations of instability, you would have seen most investors would have been trying to repatriate their investment and that would have had pressure on the kwacha, [but] this did not happen,” he explained indicating that this demonstrates the confidence that both the business community and investors have in Zambia.

Afreximbank, is an International financial institution, headquartered in Cairo, Egypt, whose primary objective is to promote and finance trade within the African continent and trade between Africa and other continents.