Issued on: 27 MARCH 2020
Gregory Chama is the founder and CEO of City Drive Rent a Car Ltd, a Zambian company that offers vehicle rental solutions.
“It’s really sad what’s going on. Our industry has been hard hit. I have fought many battles in my entrepreneurial journey but this pandemic has posed the greatest existential threat to our business. There is too much uncertainty. Our sales have dropped by more than half and we have had unprecedented cancelations of bookings.
“Unfortunately we have had to let go of some of our employees to reduce costs and to remain afloat. We are also in talks with our creditors to restructure our loans or get a payments holiday. We are in survival mode.”