Cavmont bank to spend K150m on SMEs

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Cavmont Bank will spend K150 million to lend small and medium enterprises (SMEs) through the bank’s ‘it is
possible campaign to celebrate Zambia’s Independence golden jubilee’.

Chief Executive Officer (CEO) Charles Carey said the campaign was a golden jubilee gift to the bank’s loyal customers over the last 22
years and was aimed at promoting the growth of SMEs in the country.

Mr. Carey said the campaign, which is being rolled out countrywide through its 19 branch network, is tailored to meet the needs of its
over 50,000 customers by providing tailor-made banking solutions and customer services.

Cavmont Bank has put together in the ‘it’s possible campaign’ SMEs success stories which it financed from their humble beginnings to
inspire other SMEs to succeed in business.

Mr. Carey said Cavmont Bank lent out K120 million to over 4,000 SMEs in 2013 representing a 25 per cent increase in SMEs accessing funds
for investment as well as a 40 per cent growth of its customer deposit base.

He described assertions that Zambia’s credit culture is not good as inaccurate and urged stakeholders in the financial sector to support
financial literacy among private sector clients.

Mr. Carey also urged people to grow and nurture the habit of putting aside money for future use and hoped that the celebration of world
savings day on 22nd October will spur people to begin to deploy excess funds into savings accounts.

And Head of Communications and Customer Services in the bank, Chilunga Puta-Dunham said her Cavmont was committed to showcasing and
strengthening business partnerships with customers which it has nurtured in the last 22 years of providing financial services to
Zambian people and businesses.

Ms. Puta-Dunham said the campaign, which is a response from a customer survey, reinforces the bank’s commitment to help individuals and
businesses to achieve their goals through solutions that add value and demonstrate that growth is possible.