Credit growth in Africa’s copper and cobalt producer Zambia, tripled to 9.9% (Q3:18) from 2.9% (Q2:18), the Governors presentation revealed.
Excluding government, credit grew by 14.3% (Q3:18) compared to a growth of 5.0% (Q2:18).
However, growth in credit to government rose to 6.2% (Q3:18) from 1.3% in the preceding quarter.
Private sector credit growth increased to 19.2% from 4.7% with growth in credit to households rising to 7.5% from 5.3%, the presentation revealed.
Sustaining high growth in credit to private enterprises is critical to supporting strong private sector-led economic activity, the BOZ said.