By JUDITH NAMUTOWE  –
FINANCE Minister Alexander Chikwanda has said Government will work with Zambeef to find institutions that can finance Zambeef’s outgrower schemes for the Palm Oil project in Chief Kopa’s area in Mpika.
Mr Chikwanda said Government would work with Zambeef to try and find institutions which could finance and promote the outgrower scheme for Palm Oil in the district.
He was speaking when he launched the 35th National Savings and Credit Bank (NATSAVE) Mpika Branch yesterday.
Zambeef, a private company is carrying out a 20,000 outgrower scheme for palm oil project in Mpika.
Meanwhile, Mr Chikwanda noted that it had become traditional for most banks in Zambia to concentrate their branch expansion in the already banked districts, resulting in a number of districts such as Mpika with a number of economic potential not being serviced.
Mr Chikwanda said Government would continue to facilitate viable branch expansion, and introduction of new and innovative financial products, to tap savings and channel the savings to investment.
Bank of Zambia (BoZ) director, non banking financial institutions Visscher Bbuku said NATSAVE commanded  a total asset portfolio of K635 million as at September 30, and customer deposit of K374 million, while net loans stood at K306 million.
Mr Bbuku said BoZ was particularly encouraged by the NATSAVE’s leading role in expanding lending to Small and Medium  Enterprises (SMEs) in rural areas of Zambia in accordance with its mandate.
NATSAVE managing director Cephas Chabu thanked the council and local chiefs for allocating land  on which  the bank had built at the cost of  K3.5 million.