BOZ RELEASES CREDIT MARKET MONITORING REPORT

By BUSINESS REPORTER THE Bank of Zambia (BoZ) has released a Credit Market and Monitoring report aimed at promoting more and better credit in the country, central bank governor Denny Kalyalya has announced.

Dr. Kalyalya said the report highlights data collected through the Credit Market and Monitoring Programme (CMMP) conducted in 2016.

According to a press statement made available to the Daily Nation, the report gives an over view of the of Zambia’s retail credit market with a focus on credit and debt stress.

“We are pleased to publish this report, which is intended not just for our supervisory purposes but for the many stakeholders that are involved in delivering and promoting more and better credit in our country,” he said.

He said the CMMP was initiated by BoZ in 2014 with support from Financial Sector Deepening Africa (FSDA).

He explained that CMMP collects information from all regulated credit providers and is collecting data that over time will allow credit access to be measured.

And director FSD Africa, Mark Napier commended the bank for being the first.

“The CMMP is the first of its kind in Africa with the bank of Zambia leading the way in making high quality credit markets accessible to all.

“This is a critical step in promoting market growth and underpinning broader economic development and we are delighted to be your partners,” he said.