Following the economic impact that COVID – 19 pandemic has had and continued to have on individuals and Zambian businesses, the Zambia National Commercial Bank – Zanaco has announced it’s financial relief packages available to it’s customers impacted by the pandemic.
The Bank has indicated that the relief will be available to it’s Personal, Business Banking and Corporate customers who have existing loan facilities with the bank.
ZANACO acting Chief Executive Officer Lishala Situmbeko has explained to the Zambian Business Times – ZBT that following extensive engagement with various customers and other stakeholders, the bank’s relief options will include the extension of loan tenures, refinancing of loans and loan repayment holidays adding that the relief will be provided in line with the banks credit parameters and customer needs.
He said the Bank seeks to ensure that it’s customer’s cash flows are cushioned in the medium term saying ZANACO’s support will not end at financial relief but will include business coaching and investment guidance.
Situmbeko added that the bank further recognizes the need to support it’s customers at a time that the country is fighting the deadly Coronavirus which has become a world pandemic.
“We would like to assure our customers that they are not alone on this journey. Our doors are open and we are ready to assist them through these uncertain times and beyond the COVID – 19 pandemic. Zambia is our home and our focus has always been to ensure the country’s growth and development. The only way we can do this is by making sure our customer’s growth is not halted and providing this relief is one way of doing it”, He said.
