THE Zambia National Building Society (ZNBS) has disbursed K50 million in loans out of the K162 million empowerment funds released by Government in July this year.
Company managing director Joseph Chikolwa said in an interview that ZNBS is committed to transparency and efficiency in the utilisation of the funds to empower citizens.
“We have so far disbursed about K50 million out of the K162 million that the Ministry of Finance gave us. This money is mostly targeted at empowering the poor,” Mr Chikolwa said.
And ZNBS board chairman Goodwell Kapema said the organisation is committed to empowering Zambians, especially those in informal employment.
Early this year, President Sata said Government would recapitalise ZNBS.
Mr Sata said the decision was aimed at providing affordable finance to people to enable them access mortgages for construction of houses.
Zambia Daily Mail