Zambia’s Fundanga: cost of capital still too high
Although bank loans are now within the reach of working Zambians, the cost of capital can still be reduced, said Caleb Fundanga, the governor of the Bank of Zambia, on 6 August.
High incidence of non-performing loans and double-digit inflation all contributed towards a poor credit culture in Zambia during the past decade, he said. Government involvement in financial markets had also led to high interest rates, driving out private sector activity.
However, with government commitment to lower
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