Banking can grow in safe environments-Stanbic Director

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Stanbic Bank-Zambia says banking can grow when transactions are conducted in a safe, secure and reliable environment.

Stanbic Investment Director Paul Richards says a conducive banking environment encourages consumers and retail merchants to do business with a peace of mind.

Mr. Richards says Stanbic Bank has since developed a solution to help customers with cash management skills so that they stop carrying huge sums of cash.

He said this in Lusaka last evening when he launched a new product dubbed, ‘Point of Sale’, a service that benefits retail customers and other merchants purchasing goods and paying for other necessary services such as paying water and electricity bills thereby easing their transactions using a debit card.

He disclosed that this service has been rolled out in Livingstone, Lusaka and in the Copperbelt province where businesses have benefited from cashless transactions.

And Stanbic Bank Head of Personal and Business Banking Mukwandi Chibesakunda said modern day customers are looking for efficient and convenient services when transacting.

Ms. Chibesakunda said point of sale service seeks to ensure businesses thrive while customers enjoy their money without undue pressure and hurdles.

“Customers must benefit from our products that are secure, convenient and reliable offering seamless experiences between living their lives and transacting for goods and services,” she said.

Stanbic Bank is one of a leading African financial services group with universal banking capabilities operating in 18 countries on the African continent.


For over 150 years, the bank has served the needs of individuals, small to medium-sized businesses, corporate, financial institutions and international counterparties, providing a full range of financial products and services they require.