Finance Minister Alexander Chikwanda cuts a ribbon to officially open the first ever financial institution INDO Zambia Bank in Mungwi district.
Finance Minister Alexander Chikwanda cuts a ribbon to officially open the first ever financial institution INDO Zambia Bank in Mungwi district.

Minister of Finance Alexander Chikwanda has called on banking institutions to lower the interest rates and effectively contribute to poverty eradication.
Mr Chikwanda says currently the high interest rates have reduced and pre-empted the economy growth prospects.He said this when he officially opened a new Indo-Zambia Bank branch in Mungwi district.

Mr Chikwanda said it is clear that banks play a critical role in the development of the country’s economic growth.

Paramount Chief Chitimukulu has praised government and Indo-Zambia bank for bringing financial services closer to the people in rural areas.

Indo-Zambia Bank Managing director Maheshkumar Bansal said the banking facility has continued to invest and expand its services and products because of the confidence that it has in the Zambian economy.

Speaking at the same function bank of Zambia director for non financial institutions supervision Visscher Bbuku urged commercial banks in the country to expand their services and products to rural areas.

And Northern Province Minister Freedom Sikazwe said the opening of the bank in Mungwi district will enable people in the area to be productive while reducing poverty levels.

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11 COMMENTS

  1. That’s a campaign gimmicks. That building has been there for sometime. Its not the bank that will bring food in our homes. Just concentrate in your campaigns. Outgoing president Lungu is also busy commissioning unfinished buildings in Southern Province. You cant fool people any longer. It will not happen for you. PF kuya bebele.

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  2. Mr. Engineer and other Up and Down cadres do you remember what the Late President Levy Mwanawasa said about the UPND. He said
    “UPND will always behind like buttocks”

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  3. Very soon this Fossil Chikwanda will retire to pasture whether his party wins or loses. Thank you for messing up the economy once again.

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    • “Chikwanda has called on banking institutions to lower the interest rates and effectively contribute to poverty eradication”

      This is how dull this fossil of a Finance Minister is!

      Chikwanda, do you not know that it is directly because of the Governments unrestrained BORROWING that has pushed up the interest rates to record proportions?

      What a stupid old fool! How is it possible that you are the Finance Minister of Zambia when you are obviously too dull to understand these simple fundamentals? Only under a PF Government with even BIGGER fools that appointed you!

      What a disgrace. You bankrupted the Nation once already, and now have made history by doing it TWICE!

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    • I am also wondering………….what have past governments been doing? Just the other day DeadNBC was saying they want to extend radio 1 & 2 coverage to Ikelenge district, surely 51 years and national radio has not reached all corners of this small conutry. We are doomed.

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    • Lukwesa and zambias are saying there is nothing PF is doing. After 51 years, the road between Chama and Lundazi is being tarred, after 51years Chipata Chadiza road (69kms) is being tarred, after 51 years there is a bye-pass road around Matumbi Cemetary. After 51 years, you can connect Mpongwe from Great North Road, after 51 years, Chiawa has a bridge, after 51 years, Monze-Niko road is being tarred, after 51 years township roads in Monze are being tarred, after 51 years the people of Gwembe have seen a tarred road, after 51 years, the people of Kalabo will see a bus, can I continue?

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