Out of the K400 million listed on
Company managing director, George Mubipe said the programme tranched over a period of three years.
Mr Mubipe said all the capital would be injected in to a greatly underserved SME financing sector adding that the company was strategically positioned to reduce the gap for the SMEs with working capital products.
"Collateral or rather the lack of it has been a huge stumbling block to accessing working capital finance for small business," he said.
Focus Financial Services which was incorporated in
Speaking at the listing of the K400 million MTNP at
"We remain excited about the immense possibilities ahead and look forward to the next tranche of our capital raising efforts to serve more of the 15,000 registered SMEs in
The company projects to disburse K900 million by
Earlier, Secretary to the Treasury Fredson Yamba said the subscribing of the
"The Zambian SME sector is a sleeping giant on which the success of our growth and poverty reduction agenda hugely depends on," he said.
Most Popular Stories
- Americans Still Pessimistic Despite Economic Growth
- Labor Day Travel Up, Gas Prices Down
- Bogdanovitch Delivers Laughs With 'She's Funny'
- U.K. Raises Terror Threat Level to 'Severe'
- Nintendo Launching 'Amiibo' Toy-game Franchise
- Canada, Russia Go to War (on Twitter)
- Parra Joins Exclusive Club of Hispanic CEOs
- Apple to Unveil New Items on Sept. 9
- Axxis Solutions Appoints Benites as CEO
- Obama Puts Ukraine Violence on Russia