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Finance
INDO-ZAMBIA BANK
Fire, Marine, Engineering, Motor, and Miscellaneous
Accident. They operate throughout Zambia through
their network of 7 offices: two in Lusaka and one in
Ndola, Kitwe, Chingola, Solwezi and Livingstone.
Since its establishment, Goldman has acquired a
reputation for sound underwriting and claims settle-
ment practices, being ever conscious of the fact that
they are custodians of public money. Goldman has
the right balance of distribution channels consisting
of their direct marketing team, agents and brokers.
Their top management is highly qualified and experi-
enced in the industry.
Goldman has brought together an excellent man-
agement and underwriting team that is well respect-
ed in the insurance market. Their combined skills in
insurance company management and insurance un-
derwriting, coupled with the company’s high stand-
ard of service and excellent reputation have ensured
Goldman Insurance a leading position in the Zam-
bian Insurance market. The rates for various classes
of business are based on the exposure to risk, the
reinsurance support, and the vast experience of the
technical team. Due to these factors, they are able
to quote the most competitive rates to clients. It is
Goldman`s policy to be prudent and conservative in
underwriting all the risks proposed, bearing in mind
the need to observe professional standards, good in-
surance practice and the client’s requirements.
Claim services will be undertaken through the ap-
pointed insurance broker or directly where there is
no intermediary involved. Goldman maintains ad-
equate liquidity within its investment programme to
meet day-to-day claim settlements and the claims
service is constantly being reviewed to achieve poli-
cyholder satisfaction. Claims are paid in the shortest
possible time after receipt of all the required docu-
ments.
Goldman aspires to maintain their position as market
leader and continue to grow with the Zambian econ-
omy and safeguard the Zambian people against risk.
Shukla
Managing Director
Plot NO. 6907, Cairo Rd.
P.O. Box No. 35411, Lusaka
Tel: +260-211-224979 / 225080
Fax: +260-211-225090
izb@zamnet.zm / mdizb@zamnet.zm
www.izb.co.zm
Indo-Zambia Bank Ltd was established in 1984 and
represents a unique example of collaboration be-
tween Zambia and India. The Zambian Government
has a 40% stake in the bank and the other 60% is
divided between three important public sector Indian
banks – Bank of India (20%), Bank of Baroda (20%)
and the Central Bank of India (20%).
Indo-Zambia Bank aims to act as a catalyst for the
economic development of Zambia through its full
range of banking services accommodating the Min-
ing, Tourism, Real Estate, Manufacturing and Agri-
cultural sectors. With over 25 years of experience,
Indo-Zambia Bank sets new goals and aims at reach-
ing new horizons each year. They have 12 branches
around the country, and plan to keep expanding their
network.
“We offer a full range of banking services, geared to-
wards a wide spectrum of clients and are aiming to
become a truly world-class Zambian bank.”
Shukla
Managing Director
They are dedicated to the service of the nation and
commit themselves to the provision of reliable and ef-
ficient banking services to the Zambian people, and
aspire to become the bank of choice for all retail and
corporate needs. The Bank maintains a large degree
of customer confidence and is considered as one of
the most secure and customer friendly banks in Zam-
bia. They uphold a very sympathetic and caring out-
look for small and medium businesses and provide an
array of products geared towards SMEs, Retail, and
Corporate Clients.
With regards to the Bank’s IT system, in 2008 Indo-
Zambia was proud to migrate to new state-of-the-art
Flexcube software. This enabled the Bank to launch
Internet banking and additional customer friendly
The Minister of Presidential Affairs, Hon. Ronald Muku-
ma, MP (r) handing over to a delighted Secretary to the
Treasury, Mr Likolo Ndalamei a Bonus Share Certificate
issued by the Bank