Zanaco accused of exploitation and abusing agents

ZANACO’s XPRESS AGENCY a scheme by the bank to Rob AGENTS.

In a time When most Zambians are working extra hard to ensure that they provide a meal for their families, creating employment for the majority unemployed youths it is quite shocking to see that a trusted institution of ZANACO’s stature can rob millions of Kwacha’s from our hard-working brothers and sisters in the names of AGENTS.

ZANACO’s habit of stealing from AGENTS has now escalated to a worry some level leading to most agents contemplating either to continue with the mobile money business or completely cut it off. ZANACO’s system always has issues were u find money mysteriously goes missing . Mostly it is the issue of network amongst AGENTS during month-end leaving customers with no option but to use their facilities to make transactions leaving AGENTS stranded. Immediately this period comes to an end network is restored fooling who,we don’t know.

The world should know that as ZANACO XPRESS AGENTS,we are working under tough conditions because it is clear that this institution doesn’t want to abide to the terms of contract signed by both agents and the Bank.

ZANACO’S commission structure is not constant,they change it whenever they feel like making us agents running on a loss. According to the terms of the contract, a notification shall be published a month before there are any forms of changes but ZANACO gave us a backdated commissions structure on 26th june 2020, when we had already performed our obligations, and they said it was effective from 1st june 2020, contrary to what is in our contract.

In the month of June ZANACO has stolen million of Kwacha’s from us agents. The commission we expected to receive is just way to below normal while others haven’t received anything without any form of explanation from the bank.


*How do they expect us to pay our cashiers?
*how are we going to settle the Bill’s we have incurred during this period, rentals etc?
*How do they expect us to recover the money we invested in this business?
*How do they expect us to continue running this business in the coming months?

We kindly ask for quick intervention from BOZ, CCPC and any other institutions responsible.



We urge all ZANACO AGENTS accross the country not to operate starting tomorrow Monday 13th July not until we are given our money and get an explanation from the bank.

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