INVESTRUST LOANS K700M TO KEY SECTORS

INVESTRUST Bank Plc has disclosed that it had loaned out a total of K700 million to key sectors of the economy by midthis year.

Managing director, Simangolwa Shakalima, said the bank has continued to positively contribute to Zambia’s economic growth through investing in the keys sectors of the economy, namely agriculture, transport, energy and water.

Mr Shakalima said this in an interview at the just ended 93rd Zambia Agriculture and Commercial Show in Lusaka.

“We have been supporting some hydro projects and solar projects, where some of our clients are involved in. The key sectors that we have supported, the combined support by mid this year we have lent about K700 million to all these sectors,” he said.

“We have been supporting the Small and Medium Enterprises that supply to some of these sectors as well so our focus has been on how we can support the value chain in key sectors,” Mr Shakalima said.

Mr Shakalima said the bank had also supported retail customers for project investment to the tune of K200 million.

These, he explained, were customers operating individual projects.

Mr Shakalima further said the bank had continued to invest in its digital platform where it had invested over K60 million since 2011.

Between 2011 and 2015, he said, the bank invested heavily in the branch upgrading from nice to 27 branches while rolling out over 60 Automated Teller Machines.

“We have been able to invest in technology and that has been game changing for us, we now have internet banking, and mobile banking as part of the investments that we have undertaken.

“Industrialisation is also underpinned by investment in technology. As part of our ecosystem what we have done is that for these services to be available across the country,” Mr Shakalima said.

He said the bank has recruited over 500 agents across the country to help provide services as a way of promoting financial inclusion.