National Savings & Credit Bank is a government institution created by an Act of Parliament Number 24 of Chapter 5 of the Laws of Zambia. It is 100% owned by the Government of the Republic of Zambia through the Ministry of Finance and National Planning.
The Bank was established in order to conduct the following business:
- Accept deposits
- Operate savings schemes in Zambia
- Make loans
- Conduct any other banking transactions to suit the different needs of customers
The Bank was created with a social mandate to deliver banking services to all parts of the country especially the rural areas at an affordable price.
Mission - To promote increased access to financial services in rural and urban areas, mobilization of savings and offering of prudent credit to foster economic growth.
Vision - To be Zambia's leading financial institution in the provision of financial services for wealth creation.
The Bank has a board of directors, which the Government through the Ministry of Finance and National Planning appoints. The Managing Director is also a member.
The following are the current Board members:
| Mr. Steven C Mpembele |
Director |
| Mr. Stephen Lungu |
Director |
| Mr. David Chitundu |
Director |
| Pastor Godfrida Sumaili |
Director |
| Permanent Secretary -FMA |
Director |
Ministry of Finance and National
Planning |
Director |
| Mr. Leonard Mwanza |
Managing Director |
| Mr. Leonard Mwanza |
Managing Director |
| Mr. Maxwell Saya |
Head - Human Resource and Administration |
| Mr. Brian Chanda | Head Of Risk |
| Mr. Cephas Chabu |
Manager, Business Development |
| Mr. Felix Sithole | Manager, Information Technology |
| Mr. Milton Lukasha | Manager, Operations |
| Mr. Simon Mwansa | Manager, Finance |
| Mr. Lukombo Sindanyambe | Manager, Internal Control and Audit
|
| Mrs. Mary Munansangu |
Manager, Advances |
| Mrs.Nkandu Priscilla Chikonde Chansa |
Company Secretary/Legal Counsel |
The Bank has a cross section of clientele including the following:
- Traders
- Marketeers
- Women Groups
- Clubs
- Associations
- Non Governmental Organisations
- Government Workers
- Private Sector Employees
- Limited Companies
- Schools
- Churches
- Sole Proprietors e.g Contractors
- Govt. Ministries
- Mining Industries i.e. Mopani, Chamdeshi Metals
- Road Construction Companies i.e. this has been small, medium scale road constrcutin companies, more so those trained under the roads training schools.
Overview
The Bank views rural areas as potential places for both savings and credit facilities. Lately micro financing institutions have emerged some of whom may not be genuine and the rural poor communities may be exposed to exploitation. NSCB being a Government Institution stands to safeguard the interest of both the Government and citizens at large in ensuring that credit facilities are disbursed properly and within the confines of regulatory provisions.
The Bank has identified itself with the rural people and it views rural areas as priority areas in the distribution of financial services and wealth creation.
Further, the withdrawal of big banks from rural areas has created a vacuum, which requires the bank to emerge as a substitute financial institution. It is true that if this is not done, rural areas would always lag behind in economic development.
The Bank considers itself a vehicle by which National Development can be attained in rural areas through savings and innovative financial Credit Schemes.
Under the RSC, the Bank would embark on a deliberate policy to open branches, sub-branches, money windows and in certain places introduce mobile banking.
The objectives of the RSC
- To harmonize economic growth of the country in general with the focus on rural areas.
- To empower rural communities through rural financing aimed at alleviating poverty.
- To support the Government attain agricultural development in rural areas by providing timely and appropriate financial needs and advice to smalle scale farmers.
- To encourage and promote small-scale enterprises in rural areas through the provision of low cost funds.
- To ease payments of salaries and pensions to Government employees and pensioners in rural areas.
- To help retain skilled workforce in rural areas.
- To mobilize the idle funds from the rural areas and channel the same funds into economic mainstream fro national development.
- To enhance social services sector delivery under poverty reduction programmes for the Government i.e. funding of schools, clinics, contractors and agricultural schemes.
Approach for Rural Banking Strategy
The Bank will open branches, sub-branches and money windows in all districts with potential. The bank would further consider mobile banking in some areas. This will ensure that all districts are accorded equal opportunities with a view of making them self-sustainable. The bank would restructure its operations to ensure that the performance of the organization in general is enhanced.
The Institutional Development Plan (IDP)
The IDP is a creation of the RSC. The RSC had to be developed from a mere concept and written down in more and elaborate detail in order to operationalize it. The IDP is the survival plan for the Bank. The Plan works around the vision and mission of the Bank to articulate survival strategies.
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