We lack capacity to issue loans, DBZ tells Parley committee

MINISTRY of Finance and National Planning Permanent Secretary Danies Chisenda says Development Bank of Zambia had to suspend its lending operations in 2018 due to lack of capacity and will only resume once the Bank is adequately recapitalised. And DBZ Managing Director Dr Samuel Bwalya says as of 2019, the bank disbursed almost K1.5 billion worth of loans but only about 10% of these loans were paid with interest while 90% were not able to service their accounts. Meanwhile, Bangweulu member of parliament Anthony Kasandwe has wondered if government technocrats are bewitched because they fail to perform once given an opportunity to do so. Speaking when he appeared before the Committee on Parastatal Bodies, Monday, Chisenda said the bank was...