The Central bank closed commercial banks that don’t measure up to the set standards. this fills the hearts of the micro small and Medium enterprises with fear of loosing the money.
According to Mungomba an economic Analyst many people in the sector now keep their money in the homes because they fear the long process of compensation in case such an incidence occurred.
Informal sector prone to Robbery…….
Mongomba said in so doing the people expose themselves to dangers of being robed. He added that the sector needs to develop a culture of saving if it is to attain economic growth.
The Governor Bank of Zambia urged commercial Banks to introduce new products aimed at encouraging people improve their saving culture. He said the development has enabled banks get money to lend out to the business sector.
Barbara Namisango
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