Prudential Pensions Management Zambia (PPMZ) has solidified its commitment to fostering financial inclusion with the signing of a strategic partnership agreement with First National Bank (FNB) Zambia.
This collaboration, set to commence in December 2023, follows the execution of a memorandum of understanding by both entities.
The partnership underscores a mutual commitment between PPMZ and FNB to champion a range of investment funds within the Zambian market.
Addressing the longstanding challenge of savings accessibility and affordability for many Zambians, the collaboration aims to empower individuals and families to create and cultivate wealth.
The partnership further opens new doors for customers through collective investment schemes and managed mutual funds.
The collective investment schemes form part of tailored investment solutions and will be provided through the FNB branch network, predominantly in Premier and Private Client Suites.
The official launch ceremony was presided over by PPMZ Chief Executive Officer, Kanyifwa Nyirongo, and supported by FNB Zambia Head Retail Banking, Mwamba Musambo, FNB Zambia Head Corporate & Investment Banking, Luyanga Mufungulwa and Misozi Hope Masengo, representing the Board Chairman for Prudential Pensions Management Zambia, marked a pivotal moment in the financial landscape of Zambia.
Speaking at the launch, Kanyifwa emphasized the transformative potential of the Prudential Investment Fund (PIF), providing investors with a seamless avenue to save, whether through a one-off investment or by becoming part of the “WISE” family.
The WISE campaign encourages investors to Work, Invest Steadily, and Enjoy (WISE) the benefits envisioned upon investment maturity.
Expressing gratitude, Kanyifwa extended appreciation to FNB management for fostering an enabling environment that facilitates impactful partnerships, and deepening financial service accessibility for the average Zambian.
And FNB Zambia’s Head of Retail Banking, Mwamba Musambo said that the Bank was particularly excited to partner with Prudential Pensions Management Zambia in offering investment options as this speaks to FNB Zambia’s constant drive to evolve and reimagine help for customers.
“This partnership with Prudential Pensions Management Zambia is a first on-the-market partnership between a bank and a pension fund, and a first on the market of pension and investment solutions. At FNB Zambia, we are optimistic about the opportunities that lie ahead so that we can continue to demonstrate value for our customers as we embark on a journey of financial empowerment and a brighter, more secure future for all”, Musambo said.
Within the comprehensive range of Unit Trusts (Investment Vehicles), Prudential Pensions Management Zambia offers options such as Pru Post Retirement Investment Care Investment Fund (PReCIF), Pru-Balanced Fund, Pru WiseKid, Pru-Income Fund, and Pru Personal Retirement Plan. Each is meticulously crafted to fulfill specific investment objectives.
Minimum monthly contributions starting at K500 can be remitted in advance on a monthly, quarterly, semi-annual, or annual basis.
With 23 branches across Zambia, FNB will ensure distribution of PPMZ products nationwide highlighting the bank’s resolve to reach the whole of Zambia without leaving anyone behind.
Customers will have the option of getting these investment solutions through their Relationship Managers, Branches, or in the comfort of their homes through the FNB Contact Center, supported by experts from Prudential Pensions Management Zambia.
