In the face of ongoing load shedding, the Zambia Credit Guarantee Scheme (ZCGS) recently held a crucial meeting with one of its partner financial institutions EFC. The agenda focused on fortifying the financial ecosystem to better support businesses grappling with the economic impact of power outages.
Load shedding has become a significant challenge for Zambia. With frequent and prolonged power cuts, businesses across various sectors face operational disruptions, leading to reduced productivity and financial strain. The meeting between ZCGS and EFC aimed to address these challenges head-on.
The meeting began with a comprehensive assessment of the current impact of load shedding on businesses. EFC shared data and insights on how power outages have affected loan repayments, business operations, and overall economic health.
Innovative financing solutions were also a focal point. Discussions highlighted the development of loan products tailored specifically for businesses affected by load shedding.