Banking, EconomyMay 27, 2019

The promotion of financial inclusion: The decline of Banks fortunes
In the simplest description financial inclusion is where individuals and businesses have access to useful and affordable financial products and services that meet their needs that are delivered in a responsible and sustainable way. In a nutshell these services are centred on fund transfer, credit facility access, insurance and fund savings.  In Zambia it is […]

Banking, InsuranceMay 26, 2019

Banks Entry In The Insurance Territory
In the year 2018 the Zambian banking sector witnessed both favourable and unfavourable business environment conditions. Top among notable favourable business environment conditions was the stable and consistent lending interest rates backed by the Bank of Zambia’ monetary policies. However it was during the year 2018 that the Bank of Zambia in its role as […]

BankingMay 9, 2019

Atlas Mara’s ‘ABC’ Banking Corp sends take over signal to market
Atlas Mara Limited, a sub-Saharan African financial services group announced at the end of April that they had entered into a binding term sheet with Equity Group Holdings Plc for the exchange of certain banking assets of the company, according Bloomberg press release published on 30th April 2019. Their assets in Zambia were among the […]

Banking, ZANACO plcApril 25, 2019

Weaker PMI signals weaker economic activity: ZANACO Bank
Zambia’s economic activity deteriorated in March 2019 with the PMI dipping below the benchmark of 50 once again; largely due to decreased demand occasioned by tighter spending patterns of economic agents, according to ZANACO’s Treasury Unit March 2019 Monthly Economic Review and Outlook Report. The gains of February 2019 in Purchasing Manager confidence were quickly […]

Banking, EconomyApril 12, 2019

Mobile money accounts grow by 143 million customers in 2018
On Thursday, United Nations held a State of Digital Financial Services Industry Launch in conjunction with Bank of Zambia to ensure that the opportunities and benefits of digital finance will reach low income people in difficult markets and to give companies in the industry insight into how digital financial services (DFS) are performing in regards […]

Banking, CavmontApril 9, 2019

Cavmont Capital Performance
About the Company The Bank was established on 1 January 2004, following a merger between Cavmont Merchant Bank Limited (incorporated in October 1992), and New Capital Bank Plc., (incorporated in June 1992). In 2006 the Bank’s holding company, Cavmont Capital Holdings Zambia Plc (CCHZ)’, sought a strategic investment partner and identified Capricorn Investment Holdings Limited […

BankingMarch 28, 2019

The end of innocence and the birth of moral hazard – The Focus Financial Services Story
The year 2008, was a turbulent moment in the global economic and financial calendar, the global economic recession was raging on, but a few bright spots were shining. Focus Financial Services Zambia Limited was incorporated in 2008, as a private limited liability company, specialising in Invoice Discounting, Bridge Financing, Bills Discounting and Construction Finance. Focus […]

Banking, CavmontMarch 28, 2019

Cavmont Capital earnings fall due to impairments; SENS
Investors in Cavmont Capital will be grappling with the Trading announcement from the company that is forecasting earnings per share to be about 5655% lower as compared to that for the six month period to 31 December 2017. The movement in profitability is attributed to increased impairment charges and operating expenses, according to a statement […]

Banking, Investrust Bank PlcMarch 27, 2019

Investrust Bank losses three Directors in one announcement; LUSE
In a move that shocked the market, Investrust Bank Plc announced the resignation of three Non-Executive Directors from the bank’s board effective 11th March 2019. As per requirement of the Lusaka Securities Exchange Listing Rules, the board was compelled to make the announcement in accordance with Section 3.59. The exiting Directors included Dr. Moses Banda, […]

BankingMarch 15, 2019

Natsave and Mastercard sign strategic agreement to drive digital transformation and financial inclusion in Zambia
PRESS RELEASE Lusaka, Zambia – 13th March 2019: The National Savings Bank (Natsave) and Mastercard have signed a strategic partnership agreement, which will see the bank rollout Mastercard Chip and PIN prepaid and debit cards to provide its customers with a safer and more convenient alternative to transacting with cash. This is in line with […]