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, Stanbic, Standchart, ZANACO plcNovember 13, 2019

The Bankers Royal Rumble – Q3 2019
As the third quarter of the year comes to an end, management teams are strongly reviewing their strategies to determine how well they are performing against their annual budgets and whether they will meet their targets by year-end. The Bank of Zambia reports that GDP growth is at 2%, with inflation at 10.7% and MPR […]

Banking, ZANACO plcOctober 7, 2019

ZANACO forecasts weaker earnings per share at half-year 2019
ZANACO Bank has announced that it expects its earnings per share to be 29% lower at half-year 2019, according to a statement from its Board.   ZANACO becomes the latest LuSE listed company to announce weaker half-year results during a period that has seen inflation rise beyond the central bank’s target range of between 6 […]

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, ZANACO plcMarch 13, 2019

Zanaco PLC – 2018 Performance Analysis
Corporate Bio and Ownership Structure Zambia National Commercial Bank (Zanaco) Plc was established in 1969 to provide financial services to the Zambian economy and is now a leading Bank nationwide. In 2007, the Zambian Government sold a 49% stake to Rabo Development B.V. a subsidiary of the Cooperative Centrale Raiffeisen-Boerenleen Bank (Rabobank) of the Netherlands.  […]

Banking, ZANACO plcNovember 1, 2018

ZANACO at Half Year 2018
“Big Strong Reliable” ZANACO Bank Plc has been on a vanity trip over the last couple of quarters. The #Kula inspired bank has seen its image turnaround from the not so good looking cousin from the “east” to a world class image inspired outfit. Hence it comes as no surprise that at half year, there […]

Banking, Retail, ZANACO plcMay 28, 2018

ZANACO 2017 Performance
It’s always refreshing reading a board chairperson’s letter to shareholders in annual reports that speaks to the heart of what the firm tried to achieve in the year under review. Charity Lumpa’s 2017 letter to shareholders was no exception. Her letter touched on everything from operational efficiency to prudent risk management.  It is clear from […]