BoZ reduces Govt securities handling fee
THE Bank of Zambia (BoZ) has reduced handling fee charged on Government securities in order to reduce transaction costs incurred by investors.
BoZ Communications Division said the handling fee charged on government securities had been reduced to 1 percent from two percent.
The measure, BoZ said, was intended to reduce transaction costs incurred by investors in Government securities and to
xpromote Government securities market.
The BOZ said the handling fee would be applied on the discount income treasury bills and on the coupon interest earned on government bonds.
“The Bank of Zambia wishes to advise all investors in government securities and the public in general that the handling fee for the government securities have been reduced to one percent from two percent. The reduction came to effect on February 5, 2019,” the central bank said.
In the recent past, most developing
xcountries had been promoting the development of the capital markets.
Capital Markets Development was focused on developing the equity and long term financial instruments markets in most developing countries.
The central bank said the capital market sector was increasingly viewed as a critical component in the economic development plans of these countries. In Zambia, the Government had been putting in place policies that would ensure the growth and development of capital markets.