FNB, Zamtel sign in-store banking

–First National Bank (FNB) and ZAMTEL have announced an agreement to put banking in selected Zamtel stores.

FNB Chief Executive Officer Sarel van Zyl, says the in-store banking initiative enables customers combine the strength of ZAMTEL’s unparalleled distribution and FNB’s innovation to their benefit.

Mr van Zyl was speaking at the joint media briefing of FNB and ZAMTEL at the Pamodzi Hotel in Lusaka today.

This is the first ever in-store banking initiative in selected ZAMTEL stores across the country.

And Zamtel Chief Executive Officer, Dr Mupanga Mwanakatwe said providing banking solutions from Zamtel’s retail outlets was yet another first from Zamtel.

Dr Mwanatwe said in the long run the presence of a commercial bank in many of Zamtel’s retail outlets is also expected to boost the Zamtel Mobile Money product when it is rolled out to the market in the very near future.

Meanwhile Bankers Association of Zambia, Chief Executive Officer, Leonard Mwanza, said the partnership between the private and public sectors to make the financial sector more inclusive is a very important milestone.

Mr Mwanza said the move is a demonstration by the Zambian Government how collaboration across sectors is possible to achieve financial inclusion for the unbanked population.