Indo-Zambia to open agency in Zambia

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-Indo-Zambia bank Limited has signed memorandum of understanding with Zimba district council to provide banking services to the area.

Council Secretary James Muwowo confirmed the development to ZANIS in Zimba today.

"Indo-Zambia bank is coming to Zimba very soon,we have signed a Memorandum Of Unerstanding with them and  they’ll be opening a bank agency here at the civic centre  and also provide an automated teller machine and give their services to the people",  Mr Muwowo said.

Mr Muwowo said the local authority will surrender a part its office space to the bank for rehabilitation.

He said that the bank had already done the contract procedure of acquiring a contractor to rehabilitate the building.

"As soon as the rehabilitation works are done the bank will start its operations and help the people of Zimba with banking services and facilities. This is development and from here more investors will start coming to  invest in our new district",  he said.

"We had earlier engaged Finance Bank Zambia Limited but unfortunately they showed little interest and we approached Indo-Zambia Bank who gave us an overwhelming response. If Finance bank will have interest to come to Zimba, they are very welcome but have to find another building because we have already given this one to another bank",  he added.

And Zimba District Commissioner Elizabeth Kalaluka commended the initiative taken by the district  council.

Ms Kalaluka said the move will serve civil servants, business people and other residents from travelling to Livingstone and Kalomo for payment of salaries and other banking services.

She said the services will also help farmers to access payments from the Food Reserve Agency (FRA) for the purchase of the maize.

She added that farmers in Zimba will this year sell their products and get their payments from within the district unlike the situation were they had to travel to Kalomo in the past years.

Meanwhile, Zimba ward councilor Lazarous Sikawaala has appealed for more banks and other investors to come and invest in Zimba district.

Mr Sikawaaa said Zimba’s population is growing following its declaration as a district by President Michael Sata and that it has the potential to grow economically.

The councilor said he was very happy that bank services have now come closer to the people of Zimba and that farmers would be paid locally.

"This is a great achievement, our farmers used to que for a number of days to get their money and am very hopeful that with the coming of a bank to Zimba payments would now be faster." He said.