Over 300 FNB customers ZCCM-IH INVESTS $250, 000 IN GOLD LAB access relief package

ABOUT330 customers from key economic sectors such mining and tourism have accessed the Covid-19 relief packages from the First National Bank (FNB) Zambia.

FNB in April this year started offering cash-flow relief to qualifying individuals and commercial customers whose finances have been impacted by Covid-19.

From the time the packages were rolled out, about 330 customers had benefited from the relief offers, says FNB Zambia Chief Executive Officer, Bydon Longwe.

Mr Longwe said most of the customers who had benefited from the relief measures were from economic sectors such as mining and tourism.

He said this yesterday during a live Webinar meeting yesterday, which discussed banking and the economy

By BUUMBA CHIMBULU

ABOUT

ents and this has been well

$250, 000 has been received in the market .The

invested in setting up a economy has faced some

laboratory that will establish gold challenges but FNB has come

content in ore which will be bought to the market and offered

from artisanal and small scale gold help to customers that are in

miners Zambia. need,” Mr Longwe said.

ZCCM-IH has set up the laboratory in He said FNB Zambia had

partnership with Karma Mining Services looked at the venerable sec

and Rural Development Limited in tors and put in good relief

Consolidated Gold Company. packages which met their

Chief Executive Officer, Mabvuto needs.

Chipata, explained that the purpose of Mr Longwe said his organi

the joint venture was to develop a gold sation was aware that the im

processing and trading operation in pact caused on such sectors

Zambia. had been transferred into the

Mr Chipata said the investment was mainstream economy as seen

in line with one of ZCCM-IH’s strategic by the shrining of the Gross

objectives of value creation which was Domestic Product (GDP).

to diversify its investments away from “Before Covid-19, the GDP

copper to other minerals such as gold we were hoping to get of and FNB other Zambia precious Chief metals. Executive “

about two percent but when Officer, He said Bydon this during Longwe the laboratory the pandemic struck, Ministry

media tour in Lusaka yesterday. of Finance said it will shrink

“This is also in line with Government’s to -4.2 percent so the impact during COVID-19. about is where customers classification of gold as a strategic ore that would be received has from now various transferred into the resource FNB also for Zambia,” launched he the said. strahave come miners, to us who and would said they get a fair mainstream share and economy.

tegic Consolidated outlook Gold and Company the FNB Chief are going value through for their tough material. times “Certain sectors such as Executive Zambia Officer, Private Faisal Clients Keer, offerexplained and unable “As to Karma make Mining loan reServices tourism and Rural has been affected that ing. the laboratory would be able to payments. Development, our expertise harshly. is in gold We saw hotels and process “So far about we 30 have samples given per help day. “We have processing, given them but we loan are mostly restaurants working close so that has

to Mr about Keer said 330 the customers. laboratory The was critical repayment with holidays, artisanal and interest small scale been gold a major impact on the to kind determine of help the that gold we accurately are talking in the and principle miners. holidays to cli economy,” he said.