BANC ABC, which is one of the emerging commercial banks in Zambia, has opened a new branch in Livingstone with a pledge to support tourism and other economic activities in the country’s tourist capital.
The bank’s Livingstone branch manager Nathan Mubanga said the company decided to open a branch because the city was growing fast and there were many businesses that required financing.
Speaking in an interview yesterday, Mr Mubanga said the bank was repositioning itself as Livingstone prepared to host two international events next year namely the United Nations World Tourism Organisation (UNWTO) general assembly and the 200th anniversary of the birth of the Scottish explorer David Livingstone.
“Our Banc ABC Livingstone branch opened its doors to the public following the approval by the Bank of Zambia (BoZ),” he said.He said the bank wanted to contribute to the economic growth of the tourist capital through the provision of loans to the local people.
Mr Mubanga said his bank was flexible in its operations and the base lending rates were competitive.
“Our bank also offers micro lending under the microfin for clients who want quick loans up to a certain amount,” he said.
Mr Mubanga said his bank would be working with the Zambia Development Agency (ZDA) to facilitate finances to Small and Medium Scale enterprises (SMEs) with loans as a way of boosting their businesses.
He said most SMEs in the tourism sector in Livingstone would benefit from the financing programme.
“The bank is trying to develop SMEs by providing them with loans in Livingstone which would result in more employment being created,” Mr Mubanga said.
He said the bank intended to open some more branches in Choma and Mazabuka districts as a way of strengthening its operations in the province.
Mr Mubanga commended the general public for responding positively towards the operations of bank in Livingstone.
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