More banks needed in Muchinga province

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Several Isoka residents in Muchinga Province are appealing to  the private  sector in the country to consider opening more banking facilities in the area.


Speaking on behalf of concerned Isoka residents today, Aaron Chansa said the area has limited banking facilities.


Mr Chansa told ZANIS that Isoka and Mafinga districts have only one commercial bank, the Finance bank which provides banking services to the two districts.


He notes that Finance Bank has only one Auto mated Teller Machine (ATM) facility to service all the clients with Visa Electronic cards, a situation which results in over crowding the area.


Mr Chansa noted that because of the sole bank in the area servicing multitude of people, several hours are usually wasted on the lines before one could have the banking services needed.


And a local businessman in Isoka, Niza Sikombe said it is unfortunate to have one bank in an area which has several business activities that more banking services.


Mr Sikombe cited booming rice business, cattle selling, Oil extraction and retailing businesses as some of many other businesses that would do well with enough banks in the area.


He observed that civil servants such as teachers, health workers and others have limited banking facilities and the nearest place to find banks is Nakonde which is about 100 kilometers away.


Meanwhile several old currency notes are still in circulation despite the seven day remaining before they cease to be legal tender. 


And ZANIS survey carried out today revealed that old five hundred kwacha notes and 1000 kwacha note are in high circulation while the higher denominations such as fifty thousand Kwacha notes have reduced.