By NATASHA KANA –
ZAMBIA National Commercial Bank (Zanaco) has launched the Baby Blossom Treasure Chest account aimed at promoting financial inclusion for bankable and unbanked customers.
Zanaco chief commercial officer, Lishala Situmbeko said the bank’s mandate was to encourage, teach and nurture the art of saving.
The savings account was aimed at encouraging more customers to save and plan for their future.
Mr Situmbeko said the service was meant for minors between the ages of 0-18 years, adding that the account allows customers set their own savings target and fixed monthly installments to grow their savings.
Bank of Zambia (BoZ) senior director supervisory policy, Chisha Mwanakatwe said the bank was impressed with the positive contribution the banking sector was making towards enhanced financial inclusion and improvement of the saving culture in the country.
Mr Chisha noted that financial inclusion in Zambia made a commendable leap from 37.3 per cent in 2009 to 59.3 per cent in 2015.
‘’We are delighted that the banking sector in Zambia has taken up innovation as key driver to reach as many bankable and unbanked citizens in all corners of the country,” he said.
He further said that the latest Finscope survey indicates that 59 per cent of the population was banked, a sign that there was a remarkable improvement in raising awareness on the need for Zambians to use banking services.
