Sata to increase NATSAVE branches countrywide

President Michael Sata with Guy Ryder, Director General of International Labour Organization and Labour minister Fackson Shamenda after a meeting at State House

PRESIDENT Sata says Government will this year recapitalise the National Savings and Credit Bank (NATSAVE) to enable it open 30 new branches across the country.
The President said in a message posted on his Facebook page yesterday that the branches will be opened between this year and 2016.
Among the districts that are going to have NATSAVE branches are Shangombo, Ikelengi, Sinazongwe, Nakonde, Chikankata, Mafinga, Mungwi and Nkeyema.
“I wish to share with you some of the interventions being undertaken by our Government which are aimed at accelerating rural development in order to improve our people’s living standards,” the President said.
“Our Government will this year recapitalise NATSAVE, which intends to open 30 new branches between 2014 and 2016 across the country in the following districts, among others: Shangombo, Ikelengi, Chinsali, Mpika, Luangwa, Mbala, Kazungula, Choma, Chadiza, Namwala, Sinazongwe, Nakonde, Pemba, Zimba, Mwense, Chikankata, Mafinga, Mungwi, Nkeyema, Mazabuka, Manyinga, Nsama and the Lumwana/Manyama district, which is scheduled for official opening on 31st January 2014,” he said.
He said last year government through NATSAVE opened new branches in Chavuma, Kalabo, Mpongwe, and Lufwanyama to provide financial services to people in rural areas for them to participate in economic activities and thus uplift their living standards.
President Sata said as people may be aware, the financial inclusion is an important component of inclusive development and social justice.
And Mr Sata said in order to ensure security of tenure on customary land, Government has consulted stakeholders including the House of Chiefs on the issue and a bill will be tabled in parliament in due course.
Mr Sata said it is his belief that security of tenure for the people in rural areas coupled with access to affordable financial services will help stimulate the rural economy which is critical in promoting inclusive and participatory national development.
“Not being on title or having defined rights to guarantee security of tenure has prevented our people in rural areas from accessing credit to support their various economic initiatives, including making meaningful capital investment on their land,” he said.
President Sata said his commitment to uplifting the livelihood of rural people