The Zambia Industrial Commercial Bank (ZICB) has signed a Memorandum of Understanding (MOU) with the Zambia Army to provide affordable financial services to Zambia Army staff.
According to a statement issued by ZICB Corporate Affairs Manager Luke Njovu, the MOU enables The Zambia Army personnel to access personal loans, business loans, and other banking products at competitive rates with flexible terms.
Speaking during the signing ceremony at Army Headquarters, ZICB Head of Public Sector, Winnie Chitondo, expressed ZICB’s commitment to supporting the financial needs of The Zambia Army staff. She assured The Army of the bank’s full support in meeting their financial requirements.
“As ZICB, we are dedicated to providing comprehensive support to The Zambia Army and its personnel. We will refinance existing loans from other firms, restructure them, and offer affordable loans along with other supportive products,” Chitondo stated.
“We will also assign a team to provide financial literacy training and educate The Army staff on available investment opportunities in the Zambian market, aiding them in growing their businesses,” she added.
The Zambia Army commander’s representative Brigadier General Nathan Chiselwa expressed gratitude to the bank for its commitment to financial inclusion and urged the bank to explore further partnership opportunities.
“We, as the Zambia Army, are pleased because this MOU will enable our staff to access affordable financial packages. This will empower our personnel to achieve more and ease their financial burdens,” the representative said.
