PABS rolls out K11m loans to small business sector
Published On December 30, 2013 » 2790 Views» By Hildah Lumba » Business, Stories
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By JAMES KUNDA –

THE Pan-African Building Society (PABS) has in 2013, spent a total of K11million on loans and leases to retail and corporate clients.

PABS Ndola branch manager Jones Mulenga said in an interview that out of the total funds, the institution loaned out K3.5million to its retail clients from the public sector while, the remainder of K7.5million was leased-out to corporate clients, predominantly the Small Medium Scale Entrepreneurs (SME’s) whom the institution serves in this category.

“The institution has performed fairly well in 2013, with the clientele base growing tremendously, obviously, owing to the favourable services that are being rendered to both our retail and corporate clients,” Mr Mulenga said.

He said efforts by the institution to grow its customer base would be further enhanced in 2014 by the introduction of Automated Teller Machines (ATMs), which are expected to be rolled out at all PABS branches next month.

“These facilities are already operational across our branch network in Lusaka and by January, 2014, the ATM’s should be up and running to service the clients in Ndola and surrounding areas,” Mr Mulenga said.

The institution also plans to open up branches in Mpongwe and Solwezi next year to ensure that people benefit from the monetary products and services.

Mr Mulenga said this was how PABS was responding to the overwhelming demand for monetary services in Zambia which was a hub for extended economic activities countrywide.

 

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