Banking, CavmontJuly 11, 2020

Cavmont Capital enters M&A discussions with Access Zambia
Cavmont Capital Holdings Zambia has announced that it is in discussions with Access Zambia for a possible takeover of the bank, according to a statement from the bank. “Shareholders are advised that Cavmont Capital Holdings Zambia PLC (“CCHZ”) hereby announces that it has entered into exclusive discussions with Access Bank Zambia Ltd. (“Access Zambia”) regarding […]

Banking, ZANACO plcJune 29, 2020

(SENS Announcement) ZANACO appoints Mukwandi Chibesakunda as CEO
Pursuant to Section 3.59 of the Listing Requirements the Board of Directors of Zambia National Commercial Bank PLC (“Zanaco” or “the Board”) advises that Hendrik Gezienus Mulder’s tenure of service as Chief Executive Director will come to an end on 31 December 2020 and he will be retiring as from that date. Furthermore, the Board […]

Banking, ZANACO plcJune 27, 2020

Lady Mukwandi Chibesakunda for the ZANACO top job
Zambia National Commercial Bank (ZANACO) PLC has appointed Mrs. Mukwandi Chibesakunda as its new Chief Executive Officer (CEO), effective October 1st, 2020, according to an announcement issued by the bank’s Board of Directors. Mukwandi is to succeed Mr. Henk Mulder, who has been Managing Director and CEO of ZANACO Bank PLC for the past 4 years. Under Mr. […]

Banking, ZANACO plcJune 25, 2020

ZANACO posts 100% dividend increase
Over the last three years, the Zambian National Commercial Bank (ZANACO) has recorded a continued positive growth. According to the press release and virtual media briefing hosted on June 25th 2020 at the ZANACO innovation lab, ZANACO managed to post a respectable profit because of the measures taken to expand the product offering which resulted in an 11% year on year (YoY) […]

Banking, ZANACO plcJune 21, 2020

New Board member announced at ZANACO
The Board of ZANACO has announced the appointment of a new board member, according to a published statement from the bank. “Pursuant to Section 3.59 of the Listing Requirements the Board of Directors of Zanaco Plc (“the Board”) wishes to inform the Bank’s shareholders and the general public that Mrs. Chearyp Mkandawire – Sokoni was […]

Banking, Investrust Bank PlcMay 13, 2020

Investrust Bank seeks to raise approximately K400 million in rights issue
Investrust Bank Plc has announced that it will be calling for an Emergency General Meeting (EGM) in Q2 2020 for the sole purpose of approving an approximately K400.40 million through a Rights Issue, according to a statement from the bank. The EGM is scheduled for Friday 5th June 2020 commencing at 10:00 hours with the […]

Banking, Economy, OpinionMay 5, 2020

 INSIDE THE COVID ERA ZAMBIAN MONEY MACHINE
The prudential results of most Zambian banks are out and they make for interesting reading and analysis simply because “things are different” this time around. The Covid-19, a flu-like disease that started in China has spread around the globe and has had devastating economic impact in its wake. Markets around the world have fallen to […]

BankingMay 1, 2020

Stanbic Zambia makes personal finance ‘personal’
Like awakening from a bad dream, we all had expectations when we fell asleep on 31st December 2019. Many had declared 2020 as their year. However, even when the first cases of the virus from Wuhan were announced, many still held on to the nostalgia of making 2020 a great year. Quarter one was anything […]

Agriculture, Banking, Economy, FinanceApril 18, 2020

Now is the time to create a prudential authority for the real economy
–Article was first published on 16 April 2020 in the Business Day and has been republished with permission of the author. If banks are ‘too big to fail’, then surely manufacturers, hospitals and other critical industries are as well A recurring critique of commercial regulation is that it is usually enacted ex-post, or after the […]

BankingApril 11, 2020

The future is female for CITI Bank Zambia
Global conglomerate bank, Citibank has appointed Lowani Chibesakunda as CEO and Managing Director for their Zambian operations. Lowani Chibesakunda is the first Zambian female CEO for Citibank Zambia and takes over the reins of the country’s fourth most profitable bank in 2019 from Ferdinand Zauma. Lowani, a Zambian national and a devoted catholic, is a […]