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High interest rates dimming growth of manufacturing sector – ZAM


THE Zambia Association of Manufacturers says the continued high lending rates in the country have continued to undermine the growth of the sector hence the need for Government to quickly look into challenge.

Zondwayo Duma, the ZAM lead policy analyst says there is need for the financial institutions to consider reducing their lending rates because the rates had become the major challenge being faced by the sector.

Mr. Duma said there had been an appetite for people to venture into entrepreneurship but lack of capital coupled with the high cost of borrowing was proving to be a challenge which should be addressed with the urgency it deserved.

He said these are issues that the government should be addressing as play a pivotal role in seeing the growth of the sector which in turn would feed into growth of the gross domestic product.


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