Denny Kalyalya

Bank of Zambia Governor Danny Kalyalya

THE Bank of Zambia has urged commercial banks to provide affordable financing to small and medium sized enterprises (SMEs) to spur economic growth.

Speaking during the 10th anniversary celebration of Ecobank Zambia Limited on Thursday last week, Bank of Zambia Gvernor Denny Kalyalya said well financed SMEs were the engine of growth in various economic sectors.

“SMEs world over are considered engines of growth, especially in emerging and developing economies. We therefore urge commercial banks like Ecbank Zambia to continue supporting this sectr as it has the potential to generate the much needed employment and is a good reason for non-traditional exports,” he said.

Meanwhile, Ecobank Managing Director Kola Adeleke said the company recognised the importance of SMEs to the economy and would continue o support their businesses.

Adeleke said the bank was committed to supporting various economic sectors and improving financial integration in Zambia.

He said Ecobank utilised the group synergies to harness economic development through various trade instruments and digital solutions.

And Ecobank Board Chairperson Chileshe Kapwepwe said the bank recognised support from various stakeholders who had continued to provide equity to the institution.

Kapwepwe explained that support to various economic sectors of Zambiawas among the bank’s top agenda.

This article was tagged in

Bank of Zambia ECOBANK SMEs