Atlas Mara Bank has extended a one Billion relief package to give relief to its customers who have been adversely affected by the Covid-19 Pandemic.

Atlas Mara Bank Zambia Managing Director James Koni says the bank is pleased to provide businesses with appropriate financial solutions and debt distress support programmes.

This relief packages will be given on existing credit facilities to support businesses facing financial distress caused by the Covid-19 pandemic and the subsequent lock-down measures at local and international level.

“As a Bank, we have put measures in place to ensure that the relief packages are supporting our customers whose businesses have been adversely affected by the Covid-19 pandemic. Our goal is to ensure that the relief reaches our customers who need the relief packages the most in the priority sectors identified in the 7th National Development Plan, notably Agriculture, Manufacturing, Tourism, and Energy”.

Mr Koni said this as Atlas Mara Bank accessed part of the ten billion (K10,000,000,000.00) Bank of Zambia (BOZ) Medium Term Facility (MTF) funding announced recently by the Central Bank.

“As a Bank, we have measures in place to support and provide relief to our customers who are facing various challenges as a result of Covid-19 pandemic, however this MTF has allowed us to do even more for our customers and for this we are grateful.”

I am pleased to announce that a number of Corporate and SME customers have sought relief plans with the Bank of up to One Billion (K1, 000,000,000) worth of loans, which include interest rate reductions, facility reductions and capital and interest repayment holidays (moratoriums).

This action demonstrates Atlas Mara Bank’s determination to support our customers and enhance their ability to get through the Covid-19 Pandemic and beyond.

Mr Koni commended Government and the Bank of Zambia (BOZ) for this initiative with the aim to provide relief particularly to the most affected sectors of the economy.

“We are also further providing free financial and business advisory services for our customers to help their businesses manage their financial plans during this period of the Covid-19 pandemic and beyond as well.

As Atlas Mara Bank, our drive continues to be to ‘Reshape African Banking’ through the heavy investment in technology to drive our digital banking platforms thereby deliver the best digital products and services on the market.

This will help our customers transact in real time, conveniently and safely during this period of the Covid-19 Pandemic and beyond where digital channels have emerged as essential and this is why we are the leading Digital Bank in Zambia’ he added.