President Edgar Lungu says government is taking necessary fiscal measures to ensure that the Zambian economy is stabilised.
The President however observed that the influx of financial institutions on the market is an indication that the Zambian economy is not going under.
He also reaffirmed government’s commitment to ensure that the country’s financial standing is kept afloat for the benefit of the Zambian people.
And President Lungu has commended the board and management of the National Savings and Commercial Bank (NATSAVE) for taking necessary measures and ensuring that the bank does not collapse.
He also commended them for extending their services to the rural communities in the country, adding that it is the only bank that reaches the far flanked areas in the country.
And President Lungu has re-activated his old NATSAVE account and has called on all Zambians to support the local bank.
The Head of State disclosed that he held an account with NATSAVE Chawama Branch before he became President, an account he has since re-activated.
He stated that management at the named bank have taken good steps to survive in a competitive banking sector which is flooded with many local and foreign banks.
The President was speaking when the board from NATSAVE and management called on him at State House today.
And NATSAVE Board Chairperson Evans Chibiliti said the bank is undergoing transformation in order to remain attractive to its customers and competitive on the market.
Mr Chibiliti also revealed that the new management has accepted to take a salary cut to ensure the bank keeps running instead of draining it.
He said the bank has launched the ‘Zambia saves with NATSAVE campaign’ in order to encourage Zambians to bank with their own local bank.
He commended the Head of State for supporting the bank by reactivating his account held at Chawama branch.
Meanwhile NATSAVE Chief Executive Officer Mukwandi Chibesakunda disclosed that the bank is also rolling out new products which include village banking and other saving schemes, as a way of catering for all its customer’s needs.
Ms Chibesakunda said the bank has also devised a way of catering for refugees who come into the country with no proper documentation to open bank accounts with other ordinary banks.