Rural govt departments shun NATSAVE

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Rural govt departments shun NATSAVE


Nchelenge, June 11, 2013, ZANIS…..The National Savings and Credit Bank (NATSAVE) has expressed concern at the lack of business support from government departments in the rural parts of the country.


NATSAVE has accused various government departments in areas where it is the sole banking service provider such as Nchelenge of choosing to use banking facilities located outside the district.


The bank says the trend has led to the affected districts being denied the much needed liquidity for investment, job creation and general economic development.


This is contained in a letter addressed to Nchelenge district commissioner by Bank Managing Director, Cephas Chabu made available to ZANIS in Nchelenge.


Mr. Chabu has complained that the opening up of more rural branches which NATSAVE has embarked on will become unsustainable if government departments continue avoiding using the bank’s services.


Mr. Chabu added that the bank is investing huge sums of money in opening up new branches in rural parts of the country.


He dispelled reasons advanced by government for not banking with his institution that it does not provide current accounts services on which bank cheques can be drawn.


The NATSAVE managing director explained that the bank has a commercial savings account which uses an electronic transfer platform to facilitate movement of funds on instruction from a customer.


Mr Chabu said the instructions are given on a form which has mechanisms of leaving a trail as regards internal audit requirements.