ZANACO DISBURSES OVER K16M TO INVESTRUST BANK DEPOSITORS

AS Investrust depositors Bank of the (in possession) continue accessing their money through different financial institutions, over K16 million has been paid to those receiving their funds from Zanaco branches.

The firm started paying out these depositors on April 26, 2024.

Zanaco was appointed by the Bank of Zambia to facilitate payment for Investrust Bank depositors with balances of up to K30, 000 in an exercise ending on May 10, 2024.

This followed the repossession of the bank by the central bank.

Giving an update on the payments, Zanaco’s Head - Retail Product Sales, Ricky Nyirenda, said the firm had been diligently working to facilitate the transfer of funds to ensure that depositors are able to access their money without delay.

Mr Nyirenda stated that the bank had extended its banking hours at select branches to ensure a smooth and efficient process for all depositors.

He explained that this initiative aimed to alleviate congestion, minimise waiting times, and enhance the overall customer experience during this critical period.

Mr Nyirenda said Zanaco remained steadfast in its commitment to prioritising the needs of Investrust Bank depositors and facilitating the timely payment of funds.

“The bank understands the importance of financial security and aims to provide reassurance and support to all affected depositors throughout this transition.

“As a responsible financial institution, Zanaco reaffirms its dedication to transparency, reliability, and customer satisfaction. The bank will continue to work closely with regulatory authorities and relevant stakeholders to ensure a seamless process for depositors and uphold the highest standards of service excellence” Mr Nyirenda said.