Zanaco extends services to rural areas

ZANACO Bank has undertaken to extend more banking services to rural areas to support farmers and other unbanked citizens, chairperson of the board of directors Eric Drok has said.

Mr Drok, who is Rabobank Group chief international director for retail banking in the Netherlands, said Zanaco was very focussed on agricultural support, hence more banking services to be extended to rural areas.

He said this in an interview in Livingstone soon after he presented a two-hour lecture on Banking in the 21st century to Victoria Falls University of Technology students.

The lecture centred mainly on the tricks to manage a bank as well as the current trends in the banking sector.

“We are not only targeting big cities but we also want to extend more banking services to rural areas to support farmers and other unbanked citizens,” Mr Drok said.

It was very important for Zanaco and Zambia at large to develop the agricultural sector because it was one of the main growth industries in the country.

“We need to seek ways of helping farmers to produce more and also help them to have more cows or more milk.

“We need to go round the country and help farmers. For us as Zanaco, we are already very focused on supporting the agricultural sector,” Mr Drok said.

He said there was need to ensure that many Zambians opened their own bank accounts to stimulate further growth in the economy.

“A lot of people in Zambia don’t have bank accounts and it is important that we seal this banking gap to enhance economic growth.

Banks need money to invest in various sectors of the economy and we need to encourage many people to open accounts,” Mr Drok added.

He also observed that commercial banks in Zambia were generally very profitable compared to other countries in Africa.

Times of Zambia