Government through Finance minister Alexander Chikwanda has applauded Finance Bank of Zambia for its adherence to country’s banking and finance regulations in compliance with the requirements of the Banking and Finance Act of Zambia and for its extensive network.
Speaking on May 20, 2015 when he opened the one stop border facility in Nakonde, Mr Chikwanda also applauded Finance Bank for improving conditions of service for its employees.
“It is gratifying that concerns relating to poor staff conditions of service and poor compliance with the requirements of the Banking and Financial Service Act that we had when we handed over the bank to the rightful owners, are a thing of the past. As Government, we applaud Finance Bank for its accomplishments especially its extensive branch network,” Mr Chikwanda said.
Mr Chikwanda said that the creation of Muchinga Province from scratch in terms of administrative infrastructure and services that were not readily available was and is still an uphill task for the PF government in its endeavouring quest to bring development to the province.
The Finance minister acknowledged that the task will be conquered with partners like Finance Bank and the determination of people of the province.
Mr Chikwanda said he was glad that a new branch of Finance Bank was being opened in Nakonde.
“I am glad that a new branch of Finance bank is being opened today. This is a remarkable feat. Being in Nakonde, Finance Bank has positioned itself strategically to service the Town’s ever expanding growing economy and traffic,” said the finance minister.
Mr Chikwanda further said that Government appreciates Finance Bank’s contribution towards financial inclusion and the development programme of the country through its strategic business units.
“The government appreciates Finance Bank’s contribution towards financial inclusion and the development programme of the country through its financing of micro, small and medium scale businesses. Provision of a diverse range of financial services and its corporate social responsibility programmes are all praise worthy,” said the finance minister.
Meanwhile, in a separate interview, Finance Bank chief executive officer Barkati Ali reiterated his bank’s commitment to servicing rural Zambia by opening more branches and being partners with Government in developing the nation.
Mr Ali said that his bank will be opening new branches in rural Zambia to provide banking and financial services.
Finance bank will soon be opening branches in Mumbwa and Lundazi.
Finance Bank Zambia was repossessed by the MMD in December 2010 and was sold to First Rand of South Africa for US$5.4 million. However, when the PF Government took over governance it handed the bank to the rightful owners in September 2011.