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Address high cost of borrowing, says CTPD

Address high cost of borrowing, says CTPD

BY PRISCA LUMINGU 

THERE is need for Zambia to address the high cost of borrowing if the country is to benefit from the Africa Continental Free Trade Area (AfCFTA) initiative, he Centre for Trade Policy and Development (CTPD) has said.

CTPD Researcher Trade and Development Tawila Anamela said the high cost of borrowing negatively affected domestic spending and resulted in the inadequate flow of credit to Micro, Small and Medium Enterprises that posed an adverse effect to the cost of production and made local products uncompetitive

Mr Anamela also said there was need to stiffen the competition and anti-dumping laws to ensure that the liberalization of markets did not bring rise to anticompetitive practices by foreign players and the dumping of sub-standard or unwanted goods into the market.

He further proposed for enhanced awareness campaigns on market access and quality standards required by regional and international markets.

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