NATSAVE pledges support for growth initiates

THE National Savings and Credit Bank (NATSAVE) will continue empowering local initiatives and creating partnerships meant to unlock economic potential.

NATSAVE Board Chairman, George Mwambazi, said his organisation would contribute to the availability of local empowerment initiatives.

Mr Mwambazi was speaking yesterday in Lusaka when NATSAVE signed a Memorandum of Understan ding(MoU) with Kalumbila Cooperatives to ensure availability of funds for members.

"We are glad to mention that the bank has scored milestones in the area of strategic partnerships in the last few years and we believe they are an engine of inclusive growth.

"We envisage exponential growth through partnerships hence the need for us to step up and play our part as a financial service provider," Mr Mwambazi said.

He indicated that the cooperative model has shown relatively strong resilience during recent financial and economic crisis.

Mr Mwambazi explained that the model had increased considerably throughout the world in recent years.

Cooperatives, Mr Mwambazi said, were mechanisms that ensured growth and prosperity of communities.

"We are aware that in developing and transitioning countries like ours that have limited access to capital, education and training, cooperative structures allow communities to poop together their resources to solve problems," he said.

Mr Mwambazi stressed that cooperative enterprises serves as a beacon of continuous business performance and growth, particularly in recent turbulent times such as the Covid-19 era.

Kalumbila Cooperative chairman general, Chilekwa Mambwe, challenged youths to assist in fighting for economic freedom.

Mr Mambwe stressed the need for young people to be proactive and not only complain about economic issues.

He said the Kalumbila Cooperative, which was a group of young people, would make use of the partnership with NATSAVE.

"We are happy that we are dealing with a local bank. The Zambian economy is about to be liberates through this MoU," Mr Mambwe said.

Kalumbila Cooperative Patron, Lastone Lupupa, emphasised the need for the liberalisation of the Zambian economy.