The Association of Microfinance Institutions of Zambia has advised Zambians to have a Business Plan before embarking on any business.
Association Executive Director Webby Mate says for a person to get a loan, they should have a plan for it and ensure that they will get a return.
Mr. Mate has discouraged against getting a loan for consumption as it may be tricky in repaying it.
Mr. Mate said this when he featured on Money FM Business Radio’s Policy, Power and Money Programme that airs every Mondays and Thursdays at 9hrs.
He said the whole purpose of getting a loan is to ensure that you get a profit and service the loan.
He has also advised parents and guardians to inculcate the spirit of saving into children at an early age.
Mr. Mate said parents should encourage their children to start saving with coins as this will help them in financial management.

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