Access to credit facilities is every entrepreneur’s worry. Once access is given debt stress is the worry. In Zambia, the latest figures from Bank of Zambia’s 2018 Credit Market Monitoring Report have been released. So where do you as an entrepreneur/freelancer stand?
In the 4th quarter of 2018 (months of October, November and December) a total of 61 924 SMEs applications for loans were made representing only 1% of all applications (5 037 749).
40310 applications were granted out of these 61 924 resulting in a total amount of K592 415 650 being paid out paid out in the three months of Oct, Nov and Dec in 2018. 12.8% of all loan paid out went to women and 15.1% of all loan paid out went to youth.
21113 out of the 40310 granted loans were given to single person (who says there is no I in team huh).