Stanchart to inject $300m in local SMEs

Business News


THE small-scale business sector is to receive a boost from Standard Chatered Bank which has projected to inject a total of US$300 million to support the growth of Small and Medium Entrepreneurs (SMEs) in the country.
Standard Chartered Bank managing director Mizinga Melu said the bank had targeted to inject $300 million to support  the development of the SMEs in the next  couple of years, as part of the its commitment to fostering  growth of the SMEs sector.
Addressing the media  in Lusaka yesterday during a breakfast briefing, Ms Melu said the SME banking, was a key player in the bank’s financial performance as it contributed about 40 per cent of the consumer banking revenues and had shown year-on-year asset growth of 14 per cent.
“This is a great achievement but we want to do more —we can do more.

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