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Alba Iulia
Tuesday, December 1, 2020

Financial institutions implored to explore areas without banks.

Economy Financial institutions implored to explore areas without banks.

North-Western Province Minister, Kenneth Chipungu has implored financial institutions to explore areas that have no banking facilities in the province.

Mr Chipungu also advised banks to encourage community banking where those in small
scale businesses like vendors in markets could be availed access to banking

The Minister said this during a Barclays Bank meeting at which they were explaining
their products and services prior to the reopening of a branch in Solwezi.

He said since Barclays Banks was planning of opening branches in new areas,they
should think of places like Mwinilunga and Lumwana mine where there would be a new
township established.

Mr Chipungu has welcomed Barclays Bank to get back to Solwezi, saying the gesture
was good because it would also create employment opportunities to people in the

The Minister further advised lending institutions to be aggressive in the provision
of agricultural financial assistance, especially to farmers in the province where
the climate and soil conditions were very conducive for agriculture. 

Speaking during the same occasion, Barclays Bank Regional Manager, Geoffrey Ndaba
said the branch in Solwezi was expected to be opened in the next two weeks.

Mr Ndaba said construction works were expected to be completed within one week’s time.

He said they have come back to Solwezi with new products which people should take
advantage of and improve their livelihoods such as a ‘tonse account’ which has a
minimum balance of K40,000.

Mr Ndaba said since North-Western province was the only province with the best honey
in the world, if honey farmers could form cooperatives they could access some loans
from the bank.


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