The Bankers Association of Zambia (BAZ) has echoed the need for banking institutions to partner with individuals and organisations that are interested in investing in the energy sector to curb the energy deficit and reduce load shedding.
BAZ Public Relations Officer (PRO) Mirriam Zimba has noted that a lack of electricity causes an increase in the cost of doing business which also affects banks as they do not operate in isolation.
Ms. Zimba says in an interview with Money FM News that Banks should be open and engage with others by making access to credit easy for investment in the sector as it is the major driver of the economy.
The Bank of Zambia has noted that it expects financial institutions to come up with products and services that will contribute to the enhancement of alternative energy sources in the country.
Central Bank Governor Dr. Denny Kalyalya says this in in a bid to mitigate the threat that load shedding poses on economic growth and financial stability.
Dr. Kalyalya says the financial institution is also expected to remain committed to supporting the financial, Small and Medium Enterprises sectors and economic development.