ZICB gives K10m to Mulungushi for structure upgrade

ZAMBIA Industrial Commercial Bank Limited (ZICB) has provided a K10 million credit facility to Mulungushi University for upgrading of infrastructure.

ZICB chief executive officer, Ignatius Mwanza, said the bank was aware that the growth of the economy was premised on the availability of qualified local human capital.

Mr Mwanza pledged that the bank would therefore continue to positively impact on the development of university education in the country. He said this in an interview in Lusaka yesterday. “The upgrade of accommodation infrastructure at the institution comes against a backdrop of increasing levels of student enrolments. This is a welcome development as it will ensure that students have adequate accommodation,” Mr Mwanza said.

“The K10 million credit facility that Mulungushi University has acquired will go towards the remodelling of 10 structures that were constructed when the institution was under the Mulungushi Rock of Authority,” he said.

About 618 students will be accommodated in the refurbished structures some of which will have self-catering facilities.

Mr Mwanza said ZICB would continue to focus on playing a strategic role in the commercialisation and industrialisation of small and medium enterprises (SMEs) and corporate businesses.

The partnership, he explained, with Mulungushi University would help build a conducive learning environment for the development of competent local entrepreneurs capable of creating wealth and jobs in the private sector.

Mr Mwanza said the changing landscape in the provision of tertiary education, which had seen the proliferation of several private universities, has resulted in increased competition among schools.

He urged other public universities to emulate the approach that Mulungushi University had taken to access commercial funding options to develop their infrastructure.