Zambian banks face money shortage

Zambian banks face money shortage »

31 Jul, 2015
Business

THE Bankers Association of Zambia (BAZ) says banks in the country are struggling to support key sectors of the economy because they do not have enough funds. BAZ President Leonard Mwanza told the Lusaka Star in a telephone interview today that the recently increased statutory reserve ratio empowers the central bank to be entitled to as much as 18 percent of all deposits made in Banks.

MTN Introduces Mobile Banking Services »

10 Oct, 2012
Business

MTN Zambia limited has introduced a mobile banking service that will enable its customers to send and receive money from any part of the country. MTN National mobile money Managing Director, Faith Chisulo, told the Lusaka star in an interview that MTN had started offering mini bank accounts on mobile phones which enable one to buy airtime, electricity, save and transfer money.