By JUDITH NAMUTOWE in Serenje district – GOVERNMENT has commissioned the 30th Indo Zambia Bank (IZB) branch in Serenje District, Central Province to ensure active participation in economic growth by farmers in the area. Finance Deputy Minister Christopher Mvunga implored the bank to extend deliberate support to farmers including Small and Medium Enterprises (SMEs) to ensure active participation in economic activities in the area. Mr Mvunga said there was need for the bank to support farmers and SMEs especially that a lot of effort needed to be done in ensuring that more citizens, particularly those in economically disadvantaged areas such as Serenje, get the much needed financial services. He said as agriculture remained the main source of diversification, the bank’s support would be of national strategic importance, because it would bring to operation facilities such as the Nansanga Farming Bloc. “As you maybe aware the country is faced with challenges related mainly to poor weather conditions that have impacted negatively on the economy like the agriculture sector, fall of mining activities and metal prices that brought about volatility in the exchange rate,” Mr Mvunga said. Mr Mvunga said Government had spent a lot of funds by providing infrastructure such as water and electricity. IZB managing director Shankardas Gupta said the opening of Serenje branch brings the total branch network to 30 in all provinces. Mr Gupta said the branch network would increase to 32 before end of February this year with the opening of branches in Mungwi in Northern and Lundazi in Eastern Province. “What is significant to note is that the aggressive branch expansion initiative being pursued by the bank is not aimed at increasing numbers alone but at positioning the bank to sustain the momentum of driving inclusive broad based social and economic growth and development at national level,” he said. IZB is a solid bank which commands very strong fundamentals with high net worth, high capital adequacy ratio, very comfortable liquidity position and a good quality asset portfolio. The banks total business mix stands in excess of K3 billion with the banks total assets base standing in excess of K2.8 million. Mr Gupta said IZB has great confidence in the prospects of the economy on which basis the bank had continued to invest substantially in its branch network expansion programme. IZB bank chairperson, Orlean Moyo said the bank’s decision to open a brach in Serenje was in line with Government’s policy to strive to diversify the economy. Ms Moyo said it was also the bank’s strategy to target SMEs including the population in surrounding areas to support more people to enjoy access to quality and affordable financial services. She said IZB had continued to pursue its branch expansion programme to support the initiatives set out by the Government to foster social and economic growth.