Zanaco should stop lying on loan interests


    It is a high time the Zambia National Commercial Bank (ZANACO) lived up to its own pronouncements. If this bank is truly BIG STRONG RELIABLE let it also provide genuine empowerment to Zambians. Cheating the clientale will just tarnish the image of the bank.

    We are not kids to be lied to concerning loan interest rates. The heavily advertised 17% interest rate on loans has attracted many people to apply but the rate has never been effected. The goal post is shifted in the last minute to the usual rate of 20%. Can those adverts be halted without any delay!

    Coming to Automatic Teller Machines (ATMs), they are just a shadow of the real thing. They do not fully serve the purpose for which they were introduced. Can the bank be fair to Zambians by deleting the figure ’24 on ATMs – whatever that figure means – because these machines do not operate 24/7.

    Through this letter, I appeal to appropriate institutions and authorities to protect us from these lies, greed and exploitation. Please act quickly.

Sungani Z. Phiri


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