ZAMPOST Microfinance Limited (ZMFL) is expected to issue a K100 million bond on the local bourse to enable the firm boost its support to the public.
The bond is expected to be issued before the end of 2014.
Company public relations manager Sonile Lintini said in a statement the K100 million medium term note programme (MTNP) to be issued over a period of three years is expected to support ZMFL credit expansion business.
“The capital to be raised will be injected in the business to meet [the] unserved microfinance for both individuals and small to medium enterprises. The Company is strategically positioned to offer the widest reach of its services to the remotest parts of the country,” she said.
Ms Lintini said the company that has been operating for over a year has since opened expressions of interest for various companies to offer services that will pave way for the bond issuance.
“The opening of the expression of interest for arranging services for the bond issuance programme is a significant statement that Zampost is determined to make an impact in the Zambian economy and contribute to the betterment of the lives of the people of Zambia,” she said.
Zampost post master general McPherson Chanda said the arranger of the bond issuance is expected to be selected by the end of this week. Source: Daily Mail