Increased bank facilities a need for expanded population – Mubukwanu

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Increased bank facilities a need for expanded population – Mubukwanu

Solwezi, June 10, ZANIS ——-North-Western Province Minister Nathaniel Mubukwanu says the province has over the past recent years seen unprecedented population growth due to massive mining activities which has resulted in huge demand for banking services.

Mr Mubukwanu said the province is steadily becoming the new mining frontier as it hosts two large mines Kansanshi and Barrick Lumwana adding that this kind of industrial activities needs robust banking facilities at its doorstep.

The provincial minister was speaking when he officiated at the launch of the First National Bank (FNB) Zambia’s Solwezi branch today.

Mr Mubukwanu said the opening of FNB in the province is a good move as it synchronized with the growing need for banking services particularly in Solwezi district due to increased local investment in the services and trading industry.

He appealed to FNB to develop products and services that will meet the needs of the local people in and around Solwezi district.

And speaking at the same occasion FBN Zambia Board Chairperson Renatus Mushinge said the financial institution has injected investment of U$70 million in capital since its inception in Zambia four years ago.

Mr Mushinge assured government that FNB will comply with the minimum capital requirement as prescribed by the Bank of Zambia.

He expressed confidence that the new FNB Solwezi branch as well as the banking solutions it offers will provide the local people solutions that will allow them to look beyond consumption only, thereby escalating the town’s development.