Q FM Africa's Modern Radio
Government has hailed the National Savings and Credit Bank (NATSAVE) for coming up with innovative products aimed at serving the marginalized sectors of the country’s population such as peasant farmers, and other low income earners who face the challenge of accessing funds from other financial institutions.
Finance Minister Alexander Chikwanda has since reiterated government’s resolve to continue supporting the bank in order to strengthen the bank and make it more contributive to economic development.
Speaking when he commissioned the bank’s K3 million kwacha new Chongwe branch building this morning, Mr. Chikwanda says government is pleased that NATSAVE has opened a branch in Chongwe district defying various challenged such as inadequate infrastructure.
Mr Chikwanda says Chongwe deserves and merits accessible and affordable banking and financial services to stimulate a variety of economic activities.
He says financial inclusion is on the national agenda and that NATSAVE is a key player and government’s flagship in taking financial services to rural areas.
Mr Chikwanda has since urged the people of Chongwe district to support the growth of the bank by opening accounts with the bank.
And Bank of Zambia (BoZ) Director for non bank financial institutions Visscher Bbuku has observed that NATSAVE has continued to be a leading public institution in ensuring financial inclusion to the citizens of
Zambia, as per its mandate.
Mr Bbuku has since commended NATSAVE’s leading role as a lender in the SME sector, a growth sector in Zambia’s economy which is being described as the engine of Zambia’s economic growth.
And NATSAVE managing director Cephas Chabu says the bank would continue to prioritise socio- economic development above profits.
Mr Chabu says the expansion programme will be guided by the development agenda of the government that stresses taking development to all areas.”
And Chieftenass Nkomesha Mukamambo of Soli people in Chongwe has commended the bank for
commissioning the branch, adding that the modernized bank will change the picture of the district.