Natsave Dishes Out K15 Million in North

THE National Savings and Credit Bank (Natsave) has disbursed a total?of K15.416 million to various sectors of the economy in Northern Province as at the end of July 2014.

Natsave head-aances Mary Munansangu, explained that out of the total?loan portfolio of K15, 416,027 for Northern Province, the bank disbursed K200,000 to the Small and Medium Entrepreneurs (SMEs) in Kasama, Mporokoso and Luwingu districts of Northern Province.

“Most of the loans we have given out in the province are salary-based?and part of it has been given out to the small and medium businesses,”?she said.

Speaking in an interview in Kasama, Ms Munansangu said K200,000 was?shared among the three branches in Mporokoso, Luwingu and Kasama.?She said the bank in Kasama disbursed about K6.1 million to civil?servants and the SME sector and this has helped contribute to?economic development.

The agreement will enable farmers access loans to purchase?equipment and Ms Munansangu said her bank had set aside about K10?million under the Bunjimi Asset Plus loans.

“We have partnered with ZNFU to give loans to the farmers which will?enable them purchase farming equipment and we have set aside K10?million which we must give out by the end of this year,” she said.

The bank also paid out K1, 147,990 on August 25, 2014 to farmers?in Kasama on behalf of the Food Reserve Agency (FRA).

The bank was also a fund manager for the Citizens Economic Empowerment?Commission and handed about K3,045,000 for Mpulungu and Isoka?about K185, 000, Chinsali disbursed K1,561,400 and Kasama paid out?K1, 677,852.

Source : The Times of Zambia

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