ZANACO, Zambia’s leading commercial bank has opened a new branch in Chadiza with President Edgar Lungu stating that the bank has demonstrated that its commitment to bridge the gap between the banked and the non-banked in the provision of financial services.
President Lungu said Government attached great importance to financial inclusion particularly in rural communities and was happy that Zanaco had opened a branch in one of Zambia’s oldest districts, Chadiza.
He said the financial sector was a critical instrument for the economic development of the country and that Government was encouraging the sector to ensure that as many Zambians as possible should have access to financial services.
He said matters of financial inclusion were critical to the empowerment of under-privileged citizens and that rural communities such as Chadiza should not be left out in the developmental programmes of the State.
Mr Lungu stated that although he was aware that Zambia was on the right path in breaking the barrier in rural communities accessing financial services, the sector was still facing many challenges.
He said Government relied on institutions such as Zanaco to reach as many Zambians as possible because often times rural communities most times were dependent on agriculture needed the services of financial services.
The President said this yesterday after commissioning the Zanaco branch in Chadiza yesterday.
He urged the people of Chadiza to kill the culture of keeping their money in their houses and advised that such behaviour was reducing the currency in circulation.
And Zanaco managing director Bruce Dick said his bank was the only financial institution that supported the entire value chain from the smallholder farmer to the agro processor by supporting over 20 000 smallholder, emerging and commercial farmers.
Mr Dick said Zanaco’s strategy was to focus on personal, Small Scale and Medium Enterprises, food and agriculture and government as well as corporate banking which he said had yielded positive results.
He said by taking Zanaco to Chadiza, the bank was continuously increasing access to financial services to communities apart from providing financial education to citizens.
”Zanaco was recently awarded with AA rating by the Credit Rating Agency (CRA) Zambia and as a result we expect further customer confidence as the bank of choice. We strive to be the bank of choice for our customers by ensuring that our tailor made products and services contribute to the growth of the Zambian economy,” Mr Dick said.