Formalise Village Banking - ZICA

Ties and establish link- ages to local and inter- national institutions has been signed between the Zambia Development Agency (ZDA) and the Development Bank of Zambia (DBZ).

Network Zambia’s revenue has increased by 16 percent to K1.16 billion for the six months period to June this year.

The revenue rose to K1.16 billion as at June 30, this year from K1 billion recorded Zambia the same Development period last year.

This Agency a The statement Memorandum issued by Airtel

(ZDA) has em- of VILLAGE is according banking to groups players should formlise Corporate their savings Communications operations barked Understanding to on minimise rebranding risks (MoU) for

Office in Lusaka yesterday. associated with fraudulent better will, among differentiation behaviour others, of some as en- a In participants, addition, the says company hance Zambia reported Institute the an provision of increase Chartered in of

unique trademark which ZCCM-IH gets 25p.c. customer Accounts base (ZICA) by 17 Vice per President, cent to 6.188 Cecilia million Zimba. as at June Ms this Zimba year warned from 5.789 links affordable that fraud private had credit been and reported facilities public in

million the previous year. Announcing many village the banking results sectors. and groups in Lusaka business and yesterday, it was difficult develop- Board to

Kagem Mine shares Chairperson ensure that Monica culprits ment Katebe accounted The rebranding -Musonda services for their said actions to the has Small due been to company lack of a reported formal set an up. increase in operating profit at

prompted and Medium by the Enterprises need for K308 She million said for formalising the period the under village review. banking groups

This was represents therefore By BUUMBA important a growth repositioning (SMEs), CHIMBULU to of ensure 10.83 including per that in cent the line money start- with was compared secured. to the same the ups period Institutional and last innovators. year. strategic

THE Industrial Development Corporation (IDC) Ms Ms Katebe-Musonda Zimba will was transfer speaking plan explained 25 in percent when the that equity she alignment this featured stake was in mainly Kagem with

ZDA acting Director as on a result the Stanbic of strong Mining Bank’s Limited performance Anakazi to ZCCM-IH. Banking on revenue Online and prudent the General, of operating 7th National Mukula expenses Develop- in Maka- view Conversations. management In the same vein, ZCCM-IH will transfer 71.4

percent ment and banking 100 said percent are the of informal its equity agreement kind stake of of harsh “Most economic of the village environment. sa, Plan.

in Investrust Bank and Mushe Milling Limited “During structures. the There six months are This very period few is ended according that have 30 June thought to 2020, ZDA, of respectively, to the IDC.

would facilitate estab- the registering. COVID-19 I global This would is acting part pandemic advise of its reorganisation that Manager has we disrupted shift exercise. from Commu- the having sustain- conduct informal of arrangements. business This will lishment across enable the two globe entities of and linkages achieve Zambia to has nications of operations and and unlock Public Rela-

“I not have been seen optimisation spared. on social local media and where international some ladies “Airtel have been Networks published opportunities Zambia tions, of for having Plc synergy. Kabwe has defaulted joined Phiri. the and not

ZCCM-IH institutions, Company Secretary, Chabby providing Government paid, just done and other some Ms Enterprises fraudulent Phiri deals in the explained and fight it against becomes in

Chabala, posted the announcement about the COVID-19 hard to follow by changes donating up because support K5 million there services to is the nothing COVID-19 to hold local

a on statement Lusaka Securities that Exchange the (LuSE). re- fund,” them she to account said. Mr Chabala for entrepreneurs. it,” she said.

said the ZCCM-IH board had

Ms She Katebe-Musonda emphasised approved branding the the said need proposed the for Zambian these the was IDC/ZCCM-IH groups economy to ensure to group have had reorganisation that significant Mr exercise Makasa macro-economic where IDC transfers said the structures also encountered which promoted ZDA governance. re-positioned its

25 percent of its equity stake in Kagem Mining headwinds Ms Zimba resulting however self agreement from observed as the a economic that would village familiar effects banking be of used and

Limited at fair market value. more

COVID-19. groups has increased to facilitate the saving culture, innovative especially fi-

He indicated recognisable that ZCCM-IH brand. would transfer 71.4 “The among exchange women, percent rate because equity depreciated stake of their in Investrust by high close returns. Bank to 40 Plc per at fair

nancing “The agency's arrangements new tag- cent Savings, in the period she market stated, under value was review to IDC. difficult compared especially to the where same

The and see group line that a the good resulting “Potential return. met inflationary the Made require- effect Pos- period one could last year not will also transfer its 100 percent stake

in Mushe Milling Limited to IDC at fair market cascaded She said into the the village increase sible” ments banking in of acknowledges the groups entrepreneurs. prices had of consumer managed the

value. goods to attract and services players because exacerbating of its high the strain returns on and

“These three corporate actions listed above disposable massive of our He customers. was potential speaking that yes- the interest rates incomes will be undertaken simultaneously as a corporate “Despite “I am yet this to group stress see reorganisation country a terday on savings consumers, product in exercise has Lusaka COVID-19 especially involving in terms during IDC in and the of

ZCCM-IH new that ways Natural the and is so constitute MoU attractive. resources, the signing proposed Interest rates group Human cere- brought financial about sector of conducting business that

portfolio rationalisation and reorganisation,” Mr resulted in village in an banking increase resources, groups in demand is quite for exports high Voice so it and attracts in Data the

mony.

Chabala said. products people and to invest. services “So as savings corporates is attractive and Small when and you

Mr Chabala explained that the rational for the Medium region (SMEs) "This resorted and collaboration being to work a from region- is

see that Enterprises your proposed money group is going reorganisation to grow to was a that level the that it home,,” inspires she you. added. board Incentives considered al significant trade should Hub be there and to timely envisages encourage as

the measure to enhance,

Ms people Katebe- save,” improve Musonda Ms that Zimba operational said all said. the these efficiency profit after attributes and performance tax went are

of ZCCM-IH. it will support of growth down Stanbic to negative Bank Manda K275 million Hill Branch compared Manager, to negative Katongo

He said certainly the group was catalysts streamlining for ac- 29 Chilufya-Elliott, million posted said: the of same “The local period higher enterprises last the year. interest, the a f

management oversight on its investments

This higher was the mainly risks portfolio for a celerated result village of banking. unrealized economic Governance exchange growth

facilitate access to tailor to support and sustain company growth loss policies on the are foreign and therefore unlock currency and value very for development,” denominated important its shareholders in this liabilities going set up.” she resulting forward. the devaluation made finance of the kwacha and by close busi- Ms Chilufya-Elliott from also said her Bank was keen on

“As per the LuSE listing requirements, the to helping 40 per cent, entrepreneurs year on year. and innovators coming up with

proposed group reorganisation involving ZCCM- She business said to ideas mitigate in an the effort same, to drive management the growth would of the

IH and IDC was a related party transaction and continue country to further. work was on thus increased subject to approval hedging by and shareholders debt restructuring. of ZCCM-IH via a meeting and also subject to