Atlas Mara, Micro Finance ‘insolvent’, directors quit

Atlas Mara,  Micro Finance ‘insolvent’, directors quit

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Atlas Mara Bank is experiencing liquidity challenges and  its subsidiary Microfinance Zambia limited.
Depositors at microfinance zambia Limited are not being paid their deposit when they demand their money. The Board chairperson and the CEO of Micro Finance  have since resigned. Ngosa Chisupa was the  board chairperson while  M’kwinda Sakala was the CEO
The microfinance sector has been experiencing problems with liquidity due to government not paying off loan arrears.   Microfinance zambia May soon join a list  of financial institutions that have closed recently, these are
Madison asset company ltd
Focus financial services zambia
Pan African Building Society
Zampost microfinance
Intermarket bank

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