By Amb Emmanuel Mwamba
BOZ FAILS TO RAISE TARGET THROUGH GRZ BONDS
The Bank of Zambia offered Bonds by Government for subscription worth K2.6Billion.
The Central Bank has announced the results of the auction for the GRZ Board Tender no. 11/2023/BA held on 24th November 2023.
However, customers only subscribed to the tune of K1.6Billion. There was an under subscription of K1billion.
The purpose of treasury bills and government bonds is to meet the domestic funding of the national budget.
Domestic funding is the budget line mostly comprises taxes and issuance of Treasury Bills and Government Bonds.
The undersubscription constrains government urgent need to meet obligations and operations.