CHIBIYA

By MAIMBOLWA MULIKELELA-
BARCLAYS Bank has supported more than 10,000 Small and Medium Enterprises (SMEs) countrywide and pledges to enhance financial inclusion particularly in the rural areas.
Barclays Bank managing director Saviour Chibiya said the bank was supporting more than 10,000 SMEs in the country by providing them with specialised services such as business clubs and value propositions.
Mr Chibiya said in response to a press query that it was one of the leading banks supporting the growth of the SME segment.
He said financial inclusion still remained a challenge in Zambia even after 50 years of independence.
“An important part of the Bank’s strategy is to reach a wider population. Therefore, the Bank continues to invest in its channels and product offerings in an effort to provide customers with the flexibility and convenience to access affordable banking services using different platforms,” Mr Chibiya said.
Barclays Bank Zambia had one of the largest footprints in the country having expanded from 17 branches and 25 ATMs in 2007 to the current 55 branches and 151 ATMs.
Mr Chibiya explained that through its Citizenship agenda, the Bank was driving financial literacy and entrepreneurial skills programmes by partnering with organisations like COMESA, Plan International, UNICEF, Grassroots Soccer and Junior Achievement.
“This positively impacts the young population across the country in line with the global Barclays theme of ‘Changing Five Million Young Futures’ as well as SMEs, who are able to enhance their business planning and entrepreneurial skills.
“At Barclays Bank we constantly identify new ways of building financial literacy because it is an important component of what we do because we are aware that the youth are the future of this country,” he said.
Mr Chibiya said the financial sector had achieved several milestones over the years that have positively impacted the growth of Zambia’s economy.
Some milestones included growth of sector which has seen an increase in the number of banks move from 13 to the current 19 banks, which translates into Foreign Direct Investment (FDI) and Gross Domestic Product (GDP) contribution.
To date, the sector remains one of the largest tax contributors in Zambia and continues to finance key economic sectors such as mining, agriculture, energy, construction, manufacturing, transport, tourism and the public sector which was in line with the country’s development plans.